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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

CPS CEO Says Company Greatly Reducing New-Contract Purchases from Dealers

Nick Zulovich
IRVINE, Calif. — During the fourth quarter of 2008, Consumer Portfolio Services reported it purchased $7.3 million of contracts from dealers, compared with $33.6 million during the third quarter and $265.8 million during the fourth quarter of 2007. Overall for the year, ... [Read More]

Louisiana Credit Union First to Join AppOne’s Credit Union Platform

Nick Zulovich
BATON ROUGE, La. — AppOne, a part of Wolters Kluwer Financial Services, announced that it has added the first credit union on its credit union platform. Joining this platform is Dow Louisiana Federal Credit Union. Using the AppOne platform, DLFCU is ... [Read More]

DBRS Upgrades Three Classes from Two Auto ABS Transactions

Nick Zulovich
NEW YORK — In a bit of positive news, DBRS announced it has upgraded three classes from two auto asset-backed securities transactions. These include: —$4,705,917 Goldman Sachs Auto Loan Trust 2005-1, Class B from AA to AA (high) —$2,449,479 Goldman Sachs ... [Read More]

Ford Cuts Almost $10 Billion in Debt; Rating Agencies Respond

Nick Zulovich
DEARBORN, Mich. — On Monday, Ford announced that its debt restructuring initiatives will reduce its debt by about $9.9 billion from $25.8 billion. Moreover, the company said this will lower Ford's annual cash interest expense by more than $500 million, which ... [Read More]

Triad Financial Names Director of Portfolio Services

Nick Zulovich
NORTH RICHLAND HILLS, Texas — Triad Financial recently announced that it has named a new executive to oversee the company's third-party servicing efforts. Taking on this position is Stephen Smith. In his role as director of portfolio servicing, he will manage ... [Read More]

New FICO Scores Could Predict 5-15% More Auto Loan Delinquencies

Nick Zulovich
MINNEAPOLIS — FICO recently announced the release of its newest scores, which are targeted specifically for the auto lending and bankcard industries. Credit reporting agency TransUnion is making the scores available to lenders and issuers under the names FICO Risk Score, Classic ... [Read More]

Consumer Bankruptcy Filings Continue to Build

Nick Zulovich
ALEXANDRIA, Va. — March consumer bankruptcy filings came close to doubling those of the same time frame a year ago, according to the American Bankruptcy Institute, which relies on data from the National Bankruptcy Research Center. More specifically, U.S. consumer bankruptcy filings ... [Read More]

GMAC Widens Auto Credit Spectrum, Offers Inventory Help for Dealers

Nick Zulovich
DETROIT — GMAC reached out a helping hand to dealers yesterday by announcing that the company is now offering approvals in the subprime tiers for qualified buyers, in addition to earmarking $5 billion for auto loans and temporarily easing wholesale finance ... [Read More]

ABA: As Job Losses Stack Up, Delinquencies Continue Climb

Nick Zulovich
WASHINGTON, D.C. — Job losses continued to hurt consumer finances during the fourth quarter of 2008, which is reflected in the rising delinquencies in almost every loan category, including auto loans. In fact, indirect auto loan delinquencies climbed from 3.25 percent ... [Read More]

Kia Motors America Secures Financing

Nick Zulovich
IRVINE, Calif. — Kia Motors America announced today that it has successfully closed a $305 million revolving credit line with a group of leading U.S.-based financial institutions. Of the funding group, Wells Fargo Foothill, a part of Wells Fargo & Co., ... [Read More]

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