Kroll Bond Rating Agency (KBRA) examined how states are modifying their use of federal unemployment benefit programs connected to the pandemic and identified four finance companies whose automotive securitizations might have the most resulting risk exposure. Analysts recapped in a report distributed this week that a total of 26 states have announced plans to opt […] [Read More]

Veteran buy-here, pay-here dealers already might understand the complexities and potential gains of a well-run reinsurance program. New operators or other dealerships might think that the previous sentence had a typo. In an effort to help the whole industry, we dedicated this Auto Remarketing Podcast episode to be “Reinsurance 101,” asking Shaun Petersen, who is […] [Read More]

Allied Solutions is continuing to forge industry relationships aimed at enhancing output for all firms involved. The newest one with Tracers — a cloud-based public and private records research software — is designed to create an “all-in-one” resource for improving collections and repossession with comprehensive consumer data and delinquency management tools. Tracers includes a wide […] [Read More]

Alfa, provider of the asset finance software platform Alfa Systems, recently published the third and final paper in its thought leadership series, “AI in Equipment and Auto Finance.” The whitepaper titled, “Part 3: Moving Forward with Machine Learning” was produced in association with Alfa iQ, which is a partnership between Alfa and Bitfount. Bitfount works […] [Read More]

A measure was recently introduced in the U.S. Senate that aims to create another agency on par with the Consumer Financial Protection Bureau but for regulatory oversight of data. Sen. Kirsten Gillibrand recently announced her renewed legislation — the Data Protection Act of 2021 — would create the Data Protection Agency (DPA), an independent federal […] [Read More]

Used-car ecommerce platform Shift, which began selling cars in Texas for the first time in May, has added two more markets where customers in the Lone Star State can buy vehicles. The company announced Tuesday that Dallas and Fort Worth have been added as full-service markets, joining Austin and San Antonio, which were added this […] [Read More]

One of this year’s Emerging 8 honorees now has new ownership. On Wednesday, J.D. Power announced it has acquired Superior Integrated Solutions/Darwin Automotive, a leading provider of F&I software used by dealerships. The company highlighted in a news release that the acquisition enhances the value J.D. Power can provide with its data, analytics, and software […] [Read More]

LMP Automotive Holdings has named a new chief financial officer, promoting senior corporate controller Robert Bellaflores to the role. Bellaflores has held that position since April, and was a senior-level executive in the projects division at Steven Douglas & Associates before joining LMP. He had been there since 2006. Bellaflores’ background also includes time as […] [Read More]

When StoneEagle F&I senior vice president of business development Joe St. John worked as a dealership manager, he taped a dime to the phones of store employees in the finance department to remind them of the revenue goal for every delivered vehicle. “Now, if you’re running less than $1,000 a car, you probably need to […] [Read More]

CarLotz is opening its second hub in California, with this one serving the Los Angeles area. The company said Tuesday it plans to open the Pomona, Calif., hub location later this year. Its other Golden State hub is in Bakersfield, which opened last week. “We were confident that CarLotz’s consignment model would fill a void in […] [Read More]