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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

National Auto Care acquired by different private equity firm

acquisition
SubPrime Auto Finance News Staff
National Auto Care Corp. is changing hands again. The provider of F&I products, administration, consulting services, training and marketing support to independent agents, insurance companies, financial institutions, third-party administrators and credit unions, has entered into an agreement to be acquired ... [Read More]

IRS explains 3 activities typically done by agency scammers

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SubPrime Auto Finance News Staff
While it’s been more than three months since individuals and businesses had to file their federal income forms, the Internal Revenue Service warned that many taxpayers have encountered individuals impersonating IRS officials — in person, over the telephone and via ... [Read More]

Advice to reduce compensation friction during hiring process

job interview
SubPrime Auto Finance News Staff
Automotive Personnel founder and chief executive officer Don Jasensky offered a strategy so finance companies and other employers can handle one of the most challenging portions of the hiring process — the potentially large chasm between the salary offered and ... [Read More]

17 credit unions join GrooveCar Direct in Q2

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SubPrime Auto Finance News Staff
GrooveCar Direct announced 17 new credit union partners have joined its online vehicle shopping and financing program during the second quarter. Coming aboard the program in Q2 were institutions from 12 different states, serving 137,305 members, including: — AAA Federal ... [Read More]

3 subprime ABS pool elements pushing losses to near recessionary peaks

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SubPrime Auto Finance News Staff
While improved recoveries in May helped to boost the overall metrics within the U.S. auto loan asset-backed securities (ABS) sector, S&P Global Ratings noticed significant turbulence is developing within the subprime space. On a static pool vintage basis, S&P Global ... [Read More]

Why finance companies should analyze static pools of dealers, not just consumers

subprime credit report
Nick Zulovich, Senior Editor
Equifax auto finance leader Lou Loquasto pictures an industry landscape where finance companies rank dealerships based on risk and potential profitability, just like they do consumers as applications arrive in the underwriting department. By extrapolating the knowledge gleaned through static ... [Read More]

CFPB establishes Office of Innovation as director nominee faces Senate

capitol hill
SubPrime Auto Finance News Staff
Coinciding with Kathleen Kraninger telling the Senate Banking Committee this week how she would oversee the regulator as its new director, the Consumer Financial Protection Bureau outlined the head of a new division — the Office of Innovation. Acting director ... [Read More]

Levison: Are you buying a repo service or a repo result?

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Mike Levison, ALS Resolvion
Over the years, repossession and skip-tracing services have come to be viewed somewhat as commodities by many in the lending community. As such, outside of compliance, the primary focus around the management of these services has been cost. After all, since ... [Read More]

June auto default rate stays flat

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SubPrime Auto Finance News Staff
For the first time since last fall, the auto default rate remained flat on a sequential basis. According to data through June released this week by S&P Dow Jones Indices and Experian, last month’s reading came in at 0.93 percent; ... [Read More]

Kennedy: Reviewing non-prime auto performance and looking ahead

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Joel Kennedy, Spinnaker Consulting Group
I’ve recently spent a considerable amount of time poring over the 2018 Non-Prime Automotive Finance Survey, which is administered annually by the National Automotive Finance Association. All who review this important survey will see the story of increasing operating expenses, ... [Read More]

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