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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

LendingClub survey reveals how unaware consumers are about current outstanding debts

Revisiting topic of partial payments
SubPrime Auto Finance News Staff
Recent analysis by LendingClub Corp. might reinforce why the debt-to-income portion of your auto finance company’s underwriting guidelines could be dinging applications more often nowadays — especially if the individual is leaning heavily on their credit cards. LendingClub’s research on ... [Read More]

Dissension surfaces even when FTC votes unanimously to punish Arizona dealers

3 commissioners gain confirmation at FTC
Nick Zulovich, Senior Editor
Here’s how a unanimous vote can still contain dissension in the automotive regulatory world. The Federal Trade Commission voted unanimously to join the state of Arizona against a pair of franchised dealerships. Officials said the stores engaged in a wide ... [Read More]

CFPB brings its own enforcement action involving credit repair

subprime credit report
SubPrime Auto Finance News Staff
A couple of days after the Federal Trade Commission handed out penalties associated with credit repair, the Consumer Financial Protection Bureau (CFPB) took similar actions involving the same topic last week, too. The CFPB filed a proposed order to resolve ... [Read More]

Auto-credit availability dips for fourth consecutive month

SubPrime Auto Finance News Staff
The flow of credit from the auto-finance spigot is steadily decreasing. The Dealertrack Credit Availability Index now has declined for four months in a row, as Cox Automotive reported the July reading at 92.9. That index level represented a 1.0% ... [Read More]

Obra Capital buys out Solera Auto Finance

SubPrime Auto Finance News Staff
Solera Auto Finance has new owners and branding. Obra Capital, an asset management firm with a specialized approach to alternative investing, on Tuesday announced a buyout of the finance company from Solera Corp. First launched at NADA Show 2022, Obra ... [Read More]

TransUnion spots another quarterly decline in subprime auto

SubPrime Auto Finance News Staff
Auto finance originations are down, personal loan balances sit at a record high, and consumers of all credit tiers are antsy for an interest-rate reprieve from the Federal Reserve. Those findings are the primary highlights of Q2 2024 Quarterly Credit ... [Read More]

Latest 700Credit alliance is with Fuse Autotech

partnership gears
SubPrime Auto Finance News Staff
Another alliance involving 700Credit surfaced this week to help dealerships digitize their car sales, enabling their teams to retail and finance cars more efficiently. The latest move by the provider of credit reports, compliance solutions, soft pull, identity verification and ... [Read More]

FTC lawsuit results in $12M penalty, end of operations for credit-repair company  

FTC outlines 3 goals for improved digital economy
SubPrime Auto Finance News Staff
Subprime auto finance companies often tout that an ancillary benefit of providing financing to consumers with soft credit histories is it can be a path to resuscitating an individual’s credit profile through on-time payments. This week, the Federal Trade Commission ... [Read More]

Ally tops J.D. Power’s dealer financing rankings in subprime for fourth straight year

SubPrime Auto Finance News Staff
Ally Financial, Chase Automotive Finance and Capital One Auto Finance finished in the top three and above the average segment score among non-captive subprime auto finance companies ranked in the J.D. Power 2024 U.S. Dealer Financing Satisfaction Study released on ... [Read More]

9 regulators propose rule to standardize data submitted to federal financial agencies

SubPrime Auto Finance News Staff
Last week, the Consumer Financial Protection Bureau and eight other federal financial regulatory agencies announced a proposed rule to establish data standards for certain information collections submitted to financial regulatory agencies. Officials said the proposal would promote interoperability of financial ... [Read More]

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