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SPONSORED EPISODE: Greenville Auto Auction Celebrates 16 Years—A look back and a look ahead
On this sponsored episode of the Auto Remarketing Podcast, Bill Zadeits visits with Billy Willis and Kevin Stallings of Greenville Auto Auction. The auction celebrates 16 years in early September, and the guys talk about the history of the sale, ... Listen Here
Wide-ranging car-business conversation with Lotlinx chairman and CEO Len Short
Lotlinx chairman and CEO Len Short firmly believes car dealers are the most resilient operators in any business. During this episode of the Auto Remarketing Podcast, Short explained why he is anticipating dealers showing that resilience again because it’s needed ... Listen Here
Path to delivering education in Spanish with Ignite Dealer Compliance Group
Steve Levine has dozens of dealer clients with Spanish as their native language. Those dealers also have hundreds of Hispanic customers who cannot speak or understand English. To fill compliance and training gaps created by language challenges, the owner of ... Listen Here

Servicing Solutions bolsters leadership team

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SubPrime Auto Finance News Staff
Servicing Solutions added an executive to its leadership team that management called, “one of the industry’s most respected rising stars.” The loan servicing organization specializing in primary and back-up servicing has hired Paul Marquez, an executive with more than 20 ... [Read More]

Platinum Auto Finance secures 2 sources of liquidity

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SubPrime Auto Finance News Staff
Platinum Auto Finance is beginning the second half of 2019 with significantly more financial resources. The Clearwater, Fla.-based subprime auto finance company leveraged its relationship with Finitive, a financial technology platform providing institutional investors with direct access to alternative lending ... [Read More]

Protective Asset Protection unveils online videos to explain F&I product options

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SubPrime Auto Finance News Staff
Protective Asset Protection is offering dealers another option for their presentation to vehicle buyers who might be considering products sold in the finance office. Just ahead of Fourth of July, the provider of F&I programs, services and dealer owned warranty ... [Read More]

PODCAST: Why alternative data is even more robust nowadays

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SubPrime Auto Finance News Staff
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]

Millennium Capital and Recovery gains 2 achievements for data security and compliance

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SubPrime Auto Finance News Staff
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]

Analysts explain why new & used APR edged lower in June

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Nick Zulovich, Senior Editor
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]

Details about the ASAP Program from CPS

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SubPrime Auto Finance News Staff
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]

FASB seeks to clarify 4 accounting issues over CECL changes

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SubPrime Auto Finance News Staff
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]

FBI names 8 lenders potentially impacted by alleged fraud at SC Mitsubishi store

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Nick Zulovich, Senior Editor
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]

ADAI endorsement of Dealertrack Registration and Title Solutions reaches 10 years

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SubPrime Auto Finance News Staff
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]

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