Finance companies, especially ones that participate in the non-prime and subprime spaces, often gather as much information as possible during the underwriting process before a funding decision, making the potential of alternative data even more dramatic. George Coutros, the head of ... [Read More]

Along with the Fourth of July, Millennium Capital and Recovery Corp., has more reasons to celebrate this week. The nationwide, full-service recovery management firm secured two recent achievements in connection with data security and compliance. According to a news release, ... [Read More]

It appears the annual percentage rate (APR) on new-vehicle financing edged a bit lower in June, but the movement might not be connected to actions by the Federal Reserve last month. Edmunds reported on Tuesday that the average interest rate ... [Read More]

No doubt, both dealerships and their customers want to know ASAP if an application will be approved and a retail installment contract will be bought by the finance company. Well, the newest initiative from Consumer Portfolio Services is using that exact ... [Read More]

The Financial Accounting Standards Board (FASB) looked to reinforce its position concerning the upcoming mandates placed on banks, credit unions and finance companies in connection with reserving for losses, emphasizing the changes can be implemented without incurring “significant costs.” Last ... [Read More]

This week, SubPrime Auto Finance News secured the affidavit connected with an FBI investigation of a South Carolina Mitsubishi dealership containing scathing details about store management manipulating trade-in values, down payments and income figures in an elaborate fraud scheme that ... [Read More]

It appears Hoosier State dealers like the tools Dealertrack provides since an endorsement of them now has existed for a decade. According to a news release distributed this week, the Automobile Dealers Association of Indiana (ADAI) has renewed its preferred ... [Read More]

The past seven days have been quite active at the Federal Trade Commission. The regulator made moves involving credit reporting and active military personnel, took action in connection with an alleged credit repair scheme and worked with and its law ... [Read More]

On Tuesday, KAR Auction Services shifted an executive from AFC to a role with PAR North America. According to a news release, PAR announced Drew Shull was named vice president of sales and client experience. In his new role, the ... [Read More]

DIMONT bolstered its leadership team on Tuesday with a former VanWagenen executive who also has been involved with multiple industry organizations such as the American Financial Services Association and the National Automotive Finance Association. The Dallas-based provider of insurance claims adjusting and ... [Read More]