Based on its latest filing with the Securities and Exchange Commission, Consumer Portfolio Services is looking to collect more resources to ramp up its subprime auto financing. The company said in the filing that it’s offering renewable unsecured subordinated notes to ... [Read More]

Black Book tapped a former SunTrust Bank executive today to be its new vice president of lender solutions. Joining the company and bringing 20 years of automotive finance industry experience is Barrett Teague, who will be responsible for overseeing strategic ... [Read More]

FNI Inc. president David Bafumo took a couple of weeks to analyze the complaint database policy the Consumer Financial Protection Bureau revealed; a move that generated immediate skeptical reaction for industry associations. Now that potentially the immediate dust has settled ... [Read More]

The National Independent Automobile Dealers Association and Dealertrack Technologies recently joined forces to give dealers an opportunity to get their F&I department questions answered without paying a retainer or being charged billable hours. Dealertrack associate general counsel Randy Henrick worked ... [Read More]

Digital Recognition Network announced this week that the company’s vehicle location data and license plate recognition technology services completed and passed a SOC 2 (Service Organization Control) Type 1 report for security, availability and confidentiality. DRN officials highlighted that independent ... [Read More]

The latest American Bankers Association’s Consumer Credit Delinquency Bulletin showed auto loan performance in the fourth quarter didn’t stumble much as the two categories analysts track moved only a total of 3 basis points year-over-year. ABA reported that direct auto ... [Read More]

While acknowledging there are some murky points about the latest U.S. employment trends that could concern finance companies and their origination departments, Manheim chief economist Tom Webb explained how managers can focus on the most important elements that can keep ... [Read More]

Less than seven days after making a trio of executive appointments, NextGear Capital announced two more additions to its leadership team this week. NextGear Capital explained these new roles will allow the inventory finance company to focus on existing integration ... [Read More]

Loan origination systems provider Financial Network and credit risk management solutions firm Clarity Services recently enhanced their relationship to incorporate Clarity’s new Clear Income Attributes report. Officials highlighted FNI’s loan origination solutions will be strengthened as a result of Clarity’s ... [Read More]

CarMax Auto Finance is comfortable enough booking subprime paper that it’s going to continue the practice into another fiscal year. Through the close of its 2015 fiscal year, CarMax Auto Finance originated $72.2 million of receivables through its test of ... [Read More]