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Matt Babcock of Wolters Kluwer on how digital transformation continues to gain steam in auto financing
Matt Babcock, who heads up digital lending product strategy for Wolters Kluwer, returned for another visit on the Auto Remarketing Podcast. Wolter Kluwer recently released its latest quarterly Auto Finance Digital Transformation Index. Babcock recapped the sustained upward trajectory the ... Listen Here
SPONSORED EPISODE: The Buy Online Shift & What Dealers Need to Know Now
In this sponsored episode of the Auto Remarketing Podcast, Cox Automotive’s Jeri Reichel joins us to speak to the evolving Buy Online experience. She shares more about how shopper expectations are changing and what dealers should understand and do as ... Listen Here
The Spark Between EVs & CPO
In light of electric vehicle maker VinFast launching a certified pre-owned program in the U.S., Auto Remarketing senior editor Joe Overby connects with leaders from the EV space to discuss why the segment is a natural fit for CPO and ... Listen Here

Prestige Gains Conduit Facility from J.P. Morgan Chase

Nick Zulovich
SALT LAKE CITY — Prestige Financial Services announced late last week it established an asset-backed commercial paper conduit facility through J.P. Morgan Chase Bank, N.A. in Chicago. Executives indicated the facility totaled $150 million. They went on to note the ... [Read More]

Non-Prime Regional Lender Receives Wells Fargo Credit Facility

Nick Zulovich
DES MOINES, Iowa — For the second time this month, Wells Fargo Preferred Capital handed out a revolving credit facility to a regional non-prime lender that works with franchise and independent dealerships. The latest facility coming to fruition last week was for ... [Read More]

Subprime Used-Vehicle Sales Begin to Rebound, Albeit Still Down Dramatically from 2007

Nick Zulovich
BANDON, Ore. — As of August, the share of used-vehicle sales to consumers with FICO scores under 619 apparently rose to the highest level since March 2008. However, on the new-car side, buyers with a FICO below 619 have risen only ... [Read More]

CPS Announces First Rated Securitization Since 2008

Nick Zulovich
IRVINE, Calif. — On Monday, Consumer Portfolio Services announced the closing of its first rated-term securitization in more than two years. The transaction represents the company's first senior subordinate securitization since 1993, according to management. In the transaction, qualified institutional buyers ... [Read More]

S&P/Experian Say Auto Loan Defaults Continue to Climb

Nick Zulovich
NEW YORK — The Standard and Poor's/Experian Consumer Credit Default Indices discovered that auto loan defaults climbed for the second consecutive month from 1.96 percent in July to 2.05 percent in August. "Except for auto loans, the consumer credit default indices ... [Read More]

NABD Underwriting & Collections Conference to Focus on New Financial Reform, Among Other Topics

Nick Zulovich
HOUSTON — The National Alliance of Buy-Here, Pay-Here Dealers finalized agenda reveals that the new Consumer Protection Agency and the impact this will have on BHPH dealers will be a key topic at the upcoming Underwriting and Collection Conference. Featured speakers now ... [Read More]

NVLA to Host Leasing Workshop This Fall

Nick Zulovich
HANOVER, Md. — Topics ranging from lease accounting to Red Flags and social media are on the docket for the National Vehicle Leasing Association's daylong fall workshop. Besides those three subjects, the association's workshop is set to touch on bankruptcy and GPS tracking ... [Read More]

Lenders Protection Partners with AmTrust to Help Credit Unions Approve More Non-Prime Auto Loans

Nick Zulovich
AUSTIN, Texas — Open Lending, the parent company of Lenders Protection, announced it has teamed up with the insurance carriers of AmTrust Financial Services, which will become the insurance provider for the Lenders Protection program. Basically, the program allows credit unions to ... [Read More]

Friendly Finance, OnlineBKmanager.com Unite on Marketing Plan to Reach Bankrupt Buyers

Nick Zulovich
BALTIMORE — Friendly Finance Corp. and OnlineBKmanager.com are teaming up for a marketing campaign aimed at registering more franchise and independent dealers that often cater to subprime customers who already have filed bankruptcy. Friendly Finance noted that it began work in ... [Read More]

First Investors More than Quadruples Year-over-Year Originations

Nick Zulovich
HOUSTON — Sharing its first-quarter results, First Investors Financial Services announced a decrease in net income largely due to a decline in interest income that was the result of a drop in the average portfolio outstanding, in addition to lower revenues from ... [Read More]

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