SubPrime Auto Finance News Staff

According to a filing with the Securities and Exchange Commission submitted late last week, Credit Acceptance president Steven Jones announced his decision to retire as an officer and employee of the company. The SEC document indicated that Jones’ decision is effective on June 30. Jones has been part of a... Read More

SubPrime Auto Finance News Staff

The cadence of customer-payment improvement stemming from an injection of cash from the Internal Revenue Service surfaced again, according to the latest analysis from S&P Global Ratings. On Tuesday, analysts reported prime and subprime collateral performance in the U.S. auto loan asset-backed securities (ABS) market... Read More

SubPrime Auto Finance News Staff

The trophy case at defi SOLUTIONS is starting to get quite full as the company received another accolade this week. In recognition of its position as a dynamic and disruptive industry Fintech innovator and business partner defi SOLUTIONS has been named to CIO Review’s annual list of Top 20 Most Promising... Read More

SubPrime Auto Finance News Staff

Innovate Auto Finance added to its human capital this week in an effort to keep its book of business growing. Innovate Auto Finance, a purchaser and servicer of auto portfolios and provider of line-of-credit financing, has hired Kevyn Rails as vice president of portfolio acquisitions. In this role, the company indicated... Read More

SubPrime Auto Finance News Staff

As Edmunds spotted interest rates on new-vehicle financing climbing to the highest level in nearly a decade, the latest auto finance data from Equifax showed severe delinquency edged up only slightly in February. According to information shared this week with SubPrime Auto Finance News, Equifax determined the severe... Read More

SubPrime Auto Finance News Staff

Finding vehicles up for repossession is daunting, so service providers are continuing to merge their technologies in order for finance companies to improve recovery efforts. ALS Resolvion announced that it recently became the first repossession management firm to successfully integrate its in-house proprietary... Read More

DIMONT and Auto Trakk announce partnership

SubPrime Auto Finance News Staff

Vehicle leasing in the subprime space is getting a boost by two service providers now collaborating. DIMONT, a provider of insurance claims recovery and collateral loss mitigation services, finalized a partnership this week with Pennsylvania-based Auto Trakk, a leading automotive leasing company specializing in leasing... Read More

SubPrime Auto Finance News Staff

As another state in the Northeast established an consumer protection agency that resembles the one at the federal level, the acting director of the Consumer Financial Protection Bureau included what he called a “request that Congress make four changes to the law to establish meaningful accountability for the... Read More