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August 31, 2010

Auto Loan ABS Performance Follows Seasonal Downshift

The performance of U.S. auto loan ABS is starting to exhibit seasonal negative trends, according to the auto loan ABS indices results from Fitch Ratings.

Tags: auto ABS, delinquencies, Fitch Ratings, prime, subprime

August 31, 2010

Auto Loan Delinquencies Drop; Nonprime and Subprime Loans Rise

Automotive loan delinquencies dropped during the second quarter this year, marking the second consecutive quarter with a year-over-year decrease in quarterly delinquencies, according to Experian Automotive.

Tags: 60-day delinquencies, average amount financed, average credit score, deep subprime, delinquencies, Experian Automotive, nonprime, subprime

July 13, 2010

Subprime Approvals Lagging Behind, Reports CNW

Auto finance sources continued to favor the less risky lending categories in June, with approval rates for the prime and nearprime categories reaching new highs. The story was different for subprime approvals, which continued their descent from a high in April.

Tags: CNW Research, loan approvals, nearprime, prime, subprime

July 9, 2010

Chase Opens Auto Finance Office in Virginia

Chase Auto Finance recently opened a full-service Custom Finance Business Center in Richmond, Va., to help dealers provide financing solutions for subprime customers.

Tags: Chase, subprime

June 15, 2010

Auto Loan Delinquencies Drop for First Time Since 2007

American consumers are doing a better job of making payments on their auto loans as delinquencies on 30- and 60-day loans fell in the first quarter of 2010, according to Experian Automotive.

Tags: 60-day delinquencies, average credit score, Experian Automotive, prime, subprime

June 1, 2010

Chase Opens New Auto Finance Office in Pittsburgh

Chase Auto Finance opened a new Custom Finance office in Pittsburgh to meet the subprime financing needs of auto dealers in western Pennsylvania.

Tags: Chase, subprime

May 18, 2010

Approvals, Pent-Up Demand Continue to Rise, Says CNW

Auto loan approvals continued to pick up in April, the same month pent-up demand reached its highest level since the third quarter 2008, according to CNW Research.

Tags: CNW Market Research, consumer demand, loan approvals, near-prime, prime, subprime

May 18, 2010

Fi-Magazine.com Adds Special Finance Training Videos

F&I and Showroom magazine is now offering five free online videos that provide insight and instruction on handling today’s special finance customer.

Tags: special finance, subprime, training

March 5, 2010

Q&A: Dealer Services Execs Plot Course for New Wells Fargo

F&I sits down with the three executives who have taken the reigns of the combined dealer services groups of Wachovia and Wells Fargo. Hear what they have to say about the current market conditions and Wachovia officially taking on the stagecoach name.

Tags: FLOORPLAN FINANCING, Small Business Administration, subprime, Wachovia Dealer Services, WELLS FARGO

January 25, 2010

Regional Acceptance Corporation Joins Loan Platform

RouteOne LLC has completed integration with North Carolina-based Regional Acceptance Corporation, allowing dealers to process credit applications electronically to Regional Acceptance through RouteOne.

Tags: RouteOne, subprime

December 15, 2009

Prestige Financial Securitizes $151 Million Loan Portfolio

Prestige Financial Services Inc. completed its seventh rated term securitization, issuing $140.5 million in notes backed by $151.1 million in subprime automobile installment loans.

Tags: auto ABS, Prestige Financial, subprime

November 24, 2009

Safe Bet: Prime-Credit Customers Get Growing Share of Loans

A growing percentage of new-car sales are going to prime-credit customers as banks and other financial institutions look for safer bets, according to CNW Market Research.

Tags: CNW Market Research, near prime, prime, subprime

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