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Recapping credit scores & other trends in auto finance with Shams Blanc of FICO
Shams Blanc, head of auto scores at FICO, made another appearance on the Auto Remarketing Podcast to elaborate more about the fall edition of the FICO Score Credit Insights report. Along with recapping what’s going on in auto finance, Blanc ... Listen Here
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

NAMAD & EFG announce first Northwood scholarship recipient

student loans
SubPrime Auto Finance News Staff
EFG Companies, together with the National Association of Minority Automobile Dealers (NAMAD), selected the recipient for their first Northwood University private donor scholarship on Monday. This NAMAD scholarship will fund the remainder of four-year tuition for Javante Dilworth while he ... [Read More]

S&P report says CFPB considering legal action against Westlake

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SubPrime Auto Finance News Staff
A securitization presale report from Standard & Poor’s gave a glimpse as to what the interaction between Westlake Financial Services and the Consumer Financial Protection Bureau has been like dating back more than a year. The report based on information ... [Read More]

Why NY dealer settlement impact might ripple elsewhere

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Nick Zulovich, Editor
While dealership management emphasized this week’s settlement with the New York attorney general “acknowledges no admission of wrongdoing or liability,” Dealertrack Technologies' Randy Henrick shared his unsavory assessment of the “payment packing” possibly orchestrated by a trio of Honda stores ... [Read More]

BB&T Dealer Finance halts markups

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Nick Zulovich, Editor
For franchised and independent dealerships that use BB&T Dealer Finance, a segment of BB&T Dealer Financial Services, flat-fee compensation is coming your way. On Thursday, the commercial bank announced the launch of what it dubbed “a nondiscretionary dealer compensation program, ... [Read More]

Industry notes: GM Financial upgrade & CPS securitization

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SubPrime Auto Finance News Staff
As Consumer Portfolio Services closed its second term securitization of the year, General Motors cheered Fitch Ratings’ decision this week to raise the credit ratings of both GM and GM Financial to investment grade with the finance company’s diminishing presence in ... [Read More]

Edmunds: ‘Substantial pullback’ in subprime not likely at this point

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Joe Overby, Staff Writer
The growth in the subprime auto finance market has been as steep as it has been talked about — and it’s also something that Edmunds.com chief economist Lacey Plache says to keep an eye on. However, she emphasized that we’re ... [Read More]

CFPB suing SNAAC over debt collections

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SubPrime Auto Finance News Staff
While officials said the complaint is not a finding or ruling that the finance company has actually violated the law, the Consumer Financial Protection Bureau sued Security National Automotive Acceptance Co. (SNAAC) today for aggressive debt collection tactics against servicemembers. ... [Read More]

Auto loan defaults sink to new low

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SubPrime Auto Finance News Staff
Auto loan defaults dropped to an historic low in May, according to the S&P/Experian Consumer Credit Default Indices released on Tuesday. Analysts for S&P Dow Jones Indices and Experian determined the auto loan default rate dipped by 8 basis points ... [Read More]

NY nets nearly $14M settlement with 3 dealers

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SubPrime Auto Finance News Staff
With actions possibly coming against another 11 dealerships in the Big Apple, New York attorney general Eric Schneiderman raked in a multi-million dollar settlement with three dealerships on Wednesday in a development associated with the alleged unlawful sale of credit ... [Read More]

Spireon, P360 forge partnership to reduce porfolio risk

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SubPrime Auto Finance News Staff
In a move targeted at the subprime market, Spireon on Wednesday formed a strategic partnership with P360, a provider of loan-level data management and analytics. The companies highlighted the collaboration will provide a comprehensive portfolio solution to help auto finance companies ... [Read More]

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