Thursday, December 5, 2019 - 10:27am
SubPrime Auto Finance News Staff
Monday, December 9, 2019 - 11:01am
SubPrime Auto Finance News Staff
Wednesday, December 4, 2019 - 12:13pm
SubPrime Auto Finance News Staff
Monday, November 25, 2019 - 11:56am
Monday, November 25, 2019 - 11:56am
SubPrime Auto Finance News Staff
The Massachusetts attorney general recently landed a judgment against an independent dealership totalling nearly $1 million for nearly a half dozen allegations. Attorney general Maura Healey recently announced this judgment includes restitution to consumers to resolve allegations that the dealership in Framingham,... Read More
Monday, November 25, 2019 - 11:56am
Monday, November 25, 2019 - 11:56am
SubPrime Auto Finance News Staff
After revealing a change in its latest quarterly report about how dealer fees are collected, Credit Acceptance Corp. also recently shared the details about its completion of a $351.7 million asset-backed non-recourse secured financing. Pursuant to this transaction, Credit Acceptance said it contributed contracts having... Read More
Friday, November 22, 2019 - 11:05am
Friday, November 22, 2019 - 11:05am
SubPrime Auto Finance News Staff
Consumers appear to have a notable desire to purchase a vehicle amid the upcoming holiday shopping season. Their sureness that a finance company will underwrite the contract so they can take delivery doesn’t appear to be on the same level. The latest Capital One Auto Navigator survey reveals only 26% of... Read More
Thursday, November 21, 2019 - 10:31am
Thursday, November 21, 2019 - 10:31am
SubPrime Auto Finance News Staff
While a bit higher than the year-ago reading, the latest auto-finance default rate included among the S&P/Experian Consumer Credit Default Indices is on par with what the metric has been in October multiple times during the past five years. This week, S&P Dow Jones Indices and Experian released its data through... Read More
Wednesday, November 20, 2019 - 11:51am
Wednesday, November 20, 2019 - 11:51am
SubPrime Auto Finance News Staff
Resolvion — the newly formed provider of loss mitigation services stemming from the recent merger of ALS Resolvion and Del Mar Recovery Solutions — added a well-known executive to its board. Resolvion announced on Wednesday that Tim Russi, former vice chairman of Ally Auto Finance, has joined the... Read More
Wednesday, November 20, 2019 - 11:49am
Wednesday, November 20, 2019 - 11:49am
SubPrime Auto Finance News Staff
A banking merger first announced back in February finally received a blessing from federal regulators on Tuesday. The Federal Reserve Board met and approved the application by BB&T Corp. of Winston-Salem, N.C., to merge with SunTrust Banks of Atlanta, becoming Truist Financial Corp., as the potential provider... Read More
Tuesday, November 19, 2019 - 11:08am
Tuesday, November 19, 2019 - 11:08am
SubPrime Auto Finance News Staff
Coming on the heels of multiple discussions during Used Car Week 2019 about improving efficiencies during the recovery process, a pair of KAR Global business units rolled out key platform enhancements meant to accomplish that objective. Recovery Database Network (RDN) and Clearplan announced a pair of... Read More
Tuesday, November 19, 2019 - 11:01am
Tuesday, November 19, 2019 - 11:01am
SubPrime Auto Finance News Staff
The seasonal impact Kroll Bond Rating Agency (KBRA) expected to see when analysts assembled their latest prime and non-prime indices of the automotive asset-backed securities (ABS) market arrived in October. KBRA reported auto loan ABS credit performance weakened again in October with net loss and delinquency rates... Read More