DEARBORN, Mich. — This morning, Ford Motor Credit Co. reported that its net income for 2007 was down by $508 million when compared with 2006. Overall, net income came in at $775 million for the year, compared with $1.283 billion a year earlier. ... [Read More]

BROOKFIELD, Wis. — Fiserv recently announced that non-prime lender Resurgent Auto Finance is now utilizing Fiserv Automotive Solutions' loan origination system and decisioning technology. Resurgent Auto Finance, based in Greenville, S.C., was established in September 2007. It specializes in providing funding ... [Read More]

FORT WORTH, Texas — Higher-than-anticipated credit losses in AmeriCredit's subprime and near-prime portfolios, compounded by weaker recovery rates, are leading the company to trim dealer relationships, tighten lending requirements, reduce expected originations and cut staffing. Basically, the company is reevaluating its ... [Read More]

PHOENIX, Ariz. — Full-year consumer bankruptcy filings jumped 40 percent throughout the country in 2007 over the previous year, according to the National Bankruptcy Institute. The statistics revealed that consumer filings for the year reached 801,840, compared with 573,203 in 2006. "The ... [Read More]

LOS ANGELES — Westlake Financial Services is calling 2008 a year of growth. Accordingly, the company announced it is expanding its reach into two more states. With the addition of Wyoming and Tennessee, the company is now offering services in 31 ... [Read More]

FARMINGTON HILLS, Mich. — RouteOne announced Monday that U.S. Bank, the sixth largest commercial bank in the United States, has joined its increasing list of finance sources on its Web-based credit application management system. U.S. Bancorp, with $238 billion in assets, ... [Read More]

SYRACUSE, N.Y. — Indiana-based Dealer Services Corp. and XpressCredit announced recently that they have joined forces to offer the floor planner's more than 10,000 dealer clients additional financing solutions through XpressCredit's Web-based portal. XpressCredit describes itself as a leading Internet-based financial ... [Read More]

SCHAUMBURG, Ill. — Experian Automotive recently announced it has expanded the capabilities of its AutoCount market reporting services. AutoCount can now help dealers and lenders market more effectively through detailed reporting on specified geographies as soon as the information is available ... [Read More]

HOUSTON — The National Alliance of Buy-Here, Pay-Here Dealers recently announced that its 10th Annual National Conference will be held May 6 to 8 in Las Vegas. The newly renovated Las Vegas Hilton will serve as the site for this upcoming ... [Read More]

ARLINGTON, Texas — Officials recently announced that two industry associations are partnering with the National Independent Automobile Dealers Association to expand NIADA's 62nd Annual Convention and Expo in Grapevine, Texas. The event will be held June 24 to 28. Dave Robertson, ... [Read More]