ATLANTA — Navigator Holdings recently revealed the sale of nearly $40 million in subprime, asset-backed loans. Company president Bobby Lazenby explained the sale of the subprime automobile loan portfolio comes as an increasing number of investors look to build balance sheets with high yielding assets. Lazenby said: “I’m happy to say the subprime market has rebounded […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack will be offering a free Webinar tomorrow to discuss critical compliance issues dealerships face in today’s market. The Webinar, scheduled for 2 p.m. ET, will be hosted by DealerTrack compliance counsel Randy Henrick. The event — which is part one of a two-part series designed to educate dealers about the […] [Read More]

HOUSTON — Sparked by strong loan origination growth, First Investors Financial Services Group's 2012 fiscal year got off to a rousing start as the company posted its best-ever quarterly net income level. The company recently revealed its net income soared to $1,881,107 or 34 cents per fully-diluted share for the three months ended July 31. […] [Read More]

NEW YORK — Contrary to the composite reading, the auto loan portion of the S&P/Experian Consumer Credit Default Indices ticked higher last month. Data released Tuesday by S&P Indices and Experian showed vehicle loan defaults moved up to 1.31 percent in August from 1.27 percent in July. While the level increased slightly month-over-month, the August […] [Read More]

Regulations force remarketing of repossessed vehicles to take a certain amount of time, but Consolidated Asset Recovery Systems believes its two newest partnerships can allow lenders to use that time as efficiently as possible. Geared to leverage potential both on the wholesale and retail fronts, CARS recently forged relationships with Copart and Asset Nation to […] [Read More]

Congress has proposed a bill that could encourage more vehicle donations to charities, and the National Auto Auction Association is urging its members to voice their support. About seven years ago, Congress changed the donation law, which ultimately discouraged the number of donations. After this change, donations plummeted 67 percent, according to the IRS.  Donators had to […] [Read More]

Through a partnership with Business Valuation Resources, officials from insideARM.com are offering reports that include financial data on more than 1,600 collection agencies and 85 law firms. The site highlighted this data that had not previously been available about the industry is being generated by BizMiner, a firm that provides tens of thousands of financial […] [Read More]

Industry veteran Marv Ingram, who retired from Toyota in late April, has secured a new position, Auto Remarketing learned. Ingram is well known for helping to develop and launch the Lexus certified program close to the turn of the century, which continues to set the tone for today’s popular OEM CPO programs. In Ingram’s new role, […] [Read More]

Auction Broadcasting Co. recently revealed an auction veteran is reuniting with Mike and Jason Hockett to join their management team. Tapped to be a managing partner in the auction division is Jim Phillips. ABC highlighted that Phillips started his auction career in 1983 working for Mike Hockett and Chet Goins at ADE in Indianapolis and […] [Read More]

In today’s supply-starved market, managing inventory can be a pressing — if not the most vital — concern for dealers. Dealers not only have to be able to get creative in how the find inventory, but they also have to manage it well and make educated decisions when it comes to buying, stocking and pricing. […] [Read More]