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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

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]

Sundaram: The illusion of a subprime auto lending bubble

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Raj Sundaram, Dealertrack Technologies
The first several months of 2015 have brought fears and concerns that the automotive lending market faces another subprime bubble like we saw back in 2008.  In reality, based on what we have seen at Dealertrack, the credit picture is ... [Read More]

Millennium Capital and Recovery Names General Counsel & Chief Compliance Officer

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SubPrime Auto Finance News Staff
Nationwide recovery management services provider Millennium Capital and Recovery Corp. recently hired Alison Kinnear as general counsel and chief compliance officer. Millennium indicated Kinnear will lead the company’s in-house legal and compliance activities. President Jayne Bronchetti highlighted the addition of ... [Read More]

Inilex Now Part of Reynolds Certified Interface Program

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SubPrime Auto Finance News Staff
In an effort to give finance managers more options to present to vehicle buyers, Inilex recently announced that its SkyLINK theft-recovery system has been selected by Reynolds and Reynolds as part of the Reynolds Certified Interface (RCI) Program. The provider of ... [Read More]

With Latest CFPB Rule Announced, What Next?

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Nick Zulovich, Editor
While a pair of industry associations indicated they weren’t blindsided when the Consumer Financial Protection Bureau released its final larger participant rule this week, an attorney with more than 30 years of experience cautioned finance company executives about not ignoring ... [Read More]

SAFCo Taps Former ACA Exec To Be COO

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SubPrime Auto Finance News Staff
Southern Auto Finance Co. (SAFCo) recently hired a former American Credit Acceptance (ACA) executive to be chief operating officer of the subprime auto finance company. Joining SAFCo after having been COO of ACA since 2009 is Tom Holgate. “It’s an honor to ... [Read More]

Credit Acceptance Modifies Credit Availabilities & Terms

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SubPrime Auto Finance News Staff
Credit Acceptance Corp. announced that week that the company increased the amount of its revolving secured line of credit facility with a commercial bank syndicate. The company raised the line from $235.0 million to $310.0 million while also extending the ... [Read More]

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