FORT WORTH — How are three auto finance companies handling the meltdown in the credit market and continuing to help get credit-challenged consumers behind the wheels of vehicles? Three presidents representing Westlake Financial Services, Regional Acceptance Corp. and First Investors Financial Services took the spotlight to answer this for attendees of this year's Non-Prime Auto Financing […] [Read More]

FORT WORTH — Later in the day on Thursday, Daniel Pavlinac, senior director in the Web Intelligence Research Division at J.D. Power and Associates, offered a unique look into consumer online chatter about auto loans. Basically, he said capturing data in the blogosphere is a new frontier in the voice of consumer research. "We focused on […] [Read More]

FORT WORTH — With the National Auto Finance Association's 13th Annual Non-Prime Auto Financing Conference set to kick off today, the group is set to address the unique challenges facing this arena. Basically, officials representing the association said that the current tumultuous environment is unlike anything the industry has ever faced before. "The auto ABS market […] [Read More]

FORT WORTH — A packed-full agenda from chief executive officer of non-prime lenders to attorneys to CPAs to analysts to economists and much more will take center stage at this week's National Auto Finance Association's 13th Annual Non-Prime Auto Finance Conference, which starts today. A roundup of speakers includes: —Jim Bass, NAF Association treasurer —Ian Anderson, […] [Read More]

SYRACUSE, N.Y. — XpressCredit announced earlier this week that, thanks to its integration with Carfax, the company is providing its network of dealers and lenders access to Vehicle History Reports directly through the XpressCredit platform. "Recent studies prove that Carfax Vehicle History Reports build consumer confidence and help dealers sell cars faster," Larry Gamache, communications director […] [Read More]

PHILADELPHIA — After receiving extensive feedback from its clients, VINtek has launched a revamped version of VINtekTIME, its online auto collateral management system for paperless and paper-based vehicle titles. The enhanced version of VINtekTIME features a workflow and task queuing system with timers, due dates and alerts; the integration of Department of Motor Vehicle business rules with document […] [Read More]

CARY, N.C. — SubPrime Auto Finance News will be honoring top subprime executives as part of a special feature in an upcoming edition, but to nominate an industry leader, you must act quickly. The deadline for nominations is Monday. The July/August SubPrime Auto Finance News edition will feature "Movers and Shakers: Top SubPrime Execs." The requirements […] [Read More]

FARMINGTON HILLS, Mich. — RouteOne unveiled today a pilot version of an electronic-document storage and retention solution for dealers that is fully automated and integrated within RouteOne's credit-application management system, as well as the company's other compliance-support offerings, including credit bureaus, IDOne (RouteOne's ID Verification and Authentication tool), and Adverse Action Manager. Basically, RouteOne SecureDocOne can […] [Read More]

DETROIT — GMAC Financial Services reported that the U.S. Bankruptcy Court has approved a motion presented by General Motors, which allows GMAC to continue to conduct its direct operations with automaker in the "ordinary course" of business. This is just one of the recent announcements after GM has filed for bankruptcy. Others include GM gaining permission to […] [Read More]

ALEXANDRIA, Va. — U.S. consumer bankruptcy filings continue to climb by double digits year-over-year, according to the American Bankruptcy Institute, which relies on data from the National Bankruptcy Research Center. More specifically, May filings were up 37 percent from the same period a year ago, ABI reported. However, officials said May consumer filings of 124,838 were […] [Read More]