PHOENIX — OnlineBKmanager.com announced a major overhaul of its Web-based marketing system this week. "Due to the current subprime automotive lending environment, BK marketing is more valuable than ever," said Robert Davies, president of www.OnlineBKmanager.com.  "We have hundreds of dealers logging ... [Read More]

NEW YORK — According to U.S. Structured Finance, initial market reaction to the U.S. Treasury's recently introduced TALF program is mixed. Basically, one of the goals of this new program is to make auto loans more available for consumers. "While some ... [Read More]

HOUSTON — During the last year the credit markets have tightened significantly for the subprime industry. This contraction of capital threatens the ability of many buy-here, pay-here dealers to continue in business. Without capital, BHPH dealers can't grow or even replace ... [Read More]

SAN FRANCISCO — Wells Fargo Auto Finance has decided to pull out of the Canadian auto finance industry, effective immediately, SubPrime Auto Finance News' sister e-publication, Auto Remarketing Canada recently discovered. "Wells Fargo Auto Finance announced to dealers on Nov. 12 that, ... [Read More]

FORT WORTH, Texas — On Monday, AmeriCredit Corp. announced the pricing of a $500 million offering of automobile receivables-backed securities under the AmeriCredit Automobile Receivables Trust platform, which primarily includes subprime auto loan contracts. The lead managers on the transaction are ... [Read More]

RANCHO CUCAMONGA, Calif. — CUDL, which administers the nation's largest point-of-sale and indirect lending network for credit unions, along with Manheim Financial Services, announced the further roll-out of the MAFS Advantage program this week. Through the partnership between CUDL and MAFS, the ... [Read More]

FARMINGTON HILLS, Mich. — RouteOne recently announced that it has formed an alliance with Colorado-based Triple Protection Auto Care to provide dealers an extensive Red Flags compliance and information security program. Tri-PAC's services complement RouteOne's Identify Verification and Authentication tool, powered by ... [Read More]

PHILADELPHIA — VINtek, a provider of automotive collateral management services and direct auto finance solutions for banks, credit unions and other auto finance lenders, announced that it has opened a backup facility at the SunGard Availability Services location in Wood Dale, ... [Read More]

NEW YORK — GMAC Financial Services announced early this morning that it has submitted an application to the U.S. Federal Reserve Board of Governors for approval to become a bank holding company under the Bank Holding Company Act of 1956, as ... [Read More]

MINNEAPOLIS — As U.S. financial organizations and dealers plot their course for 2009, many are waiting to see how the federal government will handle the current financial crisis under a new presidential administration. Successful organizations will be those that are not only ... [Read More]