NEW YORK — It was revealed Wednesday that investment bank Sevara Partners has helped secure a $50 million subordinated credit facility for Southern Auto Finance Co. — a subprime auto finance company headquartered in Florida and operating in nine states. The ... [Read More]

LOS ANGELES — Westlake Financial's Advanced Lending & Portfolio Services, which buys buy-here, pay-here contracts, recently announced its third quarter results, revealing a significant 2,000 percent growth year-over-year. The company ended the third quarter with a total portfolio size of $11.5 million. Commenting on ... [Read More]

NEW YORK — Ally Financial's strengthening third-quarter auto originations weren't enough to overcome softening within the company's mortgage division, resulting in a net loss. Ally said earlier this week that it sustained a third-quarter net loss of $210 million, compared ... [Read More]

CARY, N.C. — As final preparations are made for the Used Car Week Conferences, which will be held Nov. 14–18 in Las Vegas, it was announced the special conference room rate of $200 expires today and cannot be extended. Bill ... [Read More]

WASHINGTON, D.C. — Revealed late last week, Ford Motor Credit’s president has been installed as the American Financial Services Association’s 2011–2012 chair. John Noone was appointed to the position during the association’s 95th annual meeting in the nation’s Capitol. Commenting ... [Read More]

CLEARWATER, Fla. — With more location growth on the horizon, Nicholas Financial enjoyed a record second quarter, generating a 39-percent increase in net earnings. The company recently reported its second-quarter net earnings figure rose to $5.520 million from $3.982 million. ... [Read More]

CLEARWATER, Fla. — Clarity Services, a provider of subprime, thin-file and under-banked consumer data reporting, recently announced the release of its new Clear Subprime ID Fraud solution. The company highlighted Clear Subprime ID Fraud can provide several identity verification elements ... [Read More]

CARY, N.C. — Some of the repossession and recovery industries' top executives will offer their insights and best practices for the industry during the brand-new, half-day Re3 Conference, which will take place Nov. 16 in Las Vegas. The Re3 Conference ... [Read More]

CINCINNATI — Security National Automotive Acceptance Corp. announced this week it closed on the sale of the company and its TriStar insurance affiliates to a group of private investors. The existing senior management team, headed by president and chief executive ... [Read More]

FORT WORTH, Texas — General Motors Financial revealed Wednesday the pricing of a $900 million offering of automobile receivables-backed securities. The weighted average coupon on the notes to be paid by GM Financial is 2.9 percent. Moreover, the 2011-5 transaction ... [Read More]