The Industry's Leading Source For F&I, Sales And Technology


2051  -  2075  of  2272

January 28, 2010 - Industry News

Originations Infrastructure Rebuilt, Says AmeriCredit

Touting year-over-year improvements in originations, credit performance and earnings, AmeriCredit officials said on Jan. 27 the company is in a good position to rebuild its business in 2010.

Tags: AmeriCredit, subprime

January 26, 2010 - Industry News

CUDL to Represent 750 Credit Union Partners at 2010 NADA Convention

CUDL, which administers the nation’s largest auto lending network for credit unions, will represent its more than 750 partnering credit unions at the 2010 National Automobile Dealers Association (NADA) Convention.

Tags: credit unions, CUDL, NADA

January 25, 2010 - Industry News

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

January 20, 2010 - Industry News

VINtek Expands Relationship With Santander Consumer USA

VINtek, a provider of auto finance services and solutions for lenders, announced an agreement to manage vehicle titles for Santander Consumer USA (SC USA) Inc., resulting from SC USA’s acquisition of the indirect auto loan portfolio of Texas-based Triad Financial.

Tags: electronic lien and titles, nonprime, Santander Consumer USA, Triad Financial, VINtek

January 20, 2010 - Industry News

Chase Names Gouran Manager of Sacramento Auto-Financing Center

Chase has named Phil Gouran as manager of its custom auto finance center in Roseville, Calif.

Tags: Chase

January 19, 2010 - Industry News

Sonic Automotive Completes $521 Million in Credit Facilities

Sonic Automotive Inc. announced today that it has entered into new syndicated credit facilities with various financial institutions which mature in August 2012.

Tags: floorplan financing, inventory

January 14, 2010 - Industry News

Auto ABS Performs Well in 2009 Despite Pressure From High Unemployment

The U.S auto loan ABS sector has performed relatively well in 2009 compared to other ABS asset classes despite the increase in unemployment, bankruptcies of GM and Chrysler and the volatility in the used-car market, according to ratings firm DBRS.

Tags: Auto ABS, unemployment rates

January 14, 2010 - Industry News

Western Sierra and Experian Help Dealers Reach Creditworthy Consumers

Western Sierra Acceptance Corp., a consumer lender based in Northern California that specializes in automotive financing, and Experian Automotive will provide credit prescreen services to dealers to help them more easily and effectively market to auto finance consumers.

Tags: credit prescreening, Experian, Western Sierra Acceptance Corp.

January 14, 2010 - Industry News

Nationwide Acceptance Corporation Joins RouteOne

RouteOne LLC announced Jan. 14 that it has completed integration with independent subprime lender Nationwide Acceptance Corporation (NAC). Dealers in all of the markets served by NAC may now process credit applications electronically to NAC through the RouteOne platform.

Tags: Lender, Nationwide Acceptance Corporation, nonprime, RouteOne, subprime

January 12, 2010 - Industry News

Consumer Loan Delinquencies Decline in 3Q 2009

The auto finance industry is showing signs of improvement as direct and indirect auto loan delinquencies both dropped in the third quarter 2009, according to the American Bankers Association.

Tags: delinquencies, direct loans, indirect loans

January 12, 2010 - Industry News

Fitch Raises Ratings on Ford, Ford Motor Credit

Fitch Ratings has upgraded the issuer default rating for Ford Motor Company and Ford Motor Credit Company to 'B-' from 'CCC'; the outlook remains positive.

Tags: Fitch Ratings, Ford, Ford Credit, TALF

January 11, 2010 - Industry News

GMAC Approves Financing for 94 Percent of Chrysler Dealers

GMAC Financial Services issued an update Friday on its efforts to provide nearly 1,500 Chrysler dealers with wholesale financing.

Tags: Chrysler Financial Services, GMAC Financial Services, wholesale financing

January 7, 2010 - Industry News

Fitch Lifts Moratorium on Rating Dealer Floorplan Transactions

Fitch Ratings has lifted the moratorium on rating auto dealer floorplan transactions and published a revised Global Dealer Floorplan (DFP) ABS criteria report. It supersedes, in its entirety, the reports titled “Rating Criteria for U.S. Dealer Floorplan ABS”, dated May 14, 2008 and “European Auto Dealer Floorplan ABS Criteria”, dated Feb. 6, 2008.

Tags: Auto ABS, Fitch Ratings, floorplan financing

January 5, 2010 - Industry News

GMAC Financial Services Announces Capital and Strategic Actions

GMAC Financial Services announced a series of actions intended to strengthen the company's capital base, position it for improved financial performance, minimize further adverse effects on GMAC related to Residential Capital LLC (ResCap), and improve access to the capital markets over time.

Tags: Ally Financial, GMAC Financial Services, ResCap LLC, Treasury Department

January 5, 2010 - Industry News

Key Credit Index Says Weak Economy Heading in Right Direction

Although its key index remains above the expansion level, the National Association of Credit Management (NACM) said its December Credit Managers’ Index matched the mood of the economy as a whole – essentially flat.

Tags: bankruptcies, Credit, Credit Applications, National Association of Credit Management

December 29, 2009 - Industry News

New Year Brings Continued Performance Pressure for Auto ABS

Annualized net losses (ANL) on U.S. auto ABS rose again in November in a trend likely to continue into 2010, according to Fitch Ratings.

Tags: Auto ABS, delinquencies, Fitch Ratings

December 17, 2009 - Industry News

Navigator Holdings Makes $3.2 Million Subprime-Portfolio Offering

Navigator Acceptance, a division of Navigator Holdings LLC, has released a fourth-quarter loan portfolio offering worth $3.2 million.

Tags: loan portfolios

December 16, 2009 - Industry News

TransUnion Forecasts Auto Delinquencies to Fall and Rise in 2010

The national auto loan delinquency rate will increase approximately 7 percent at the end of 2010 to 0.92 percent, up from an expected 0.86 percent at the conclusion of 2009, according to TransUnion’s annual auto loan forecast.

Tags: delinquencies, TransUnion

December 15, 2009 - Industry News

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

December 15, 2009 - Industry News

ACS Launches Lending Gateway for Dealers

Automobile Consumer Services Inc. (ACS) launched a new lending platform aimed at giving auto dealers access to financing and leasing sources.

Tags: Finance, leasing sources, Lender

December 15, 2009 - Industry News

Interest Rates Dip Slightly in October, Says Federal Reserve

Consumer credit decreased at an annual rate of 3.3 percent in the third quarter and continued to decline in October, according to the Federal Reserve’s monthly report.

Tags: Auto Loans, Consumer Credit, Federal Reserve, Finance, interest rates, loan-to-value ratio

December 15, 2009 - Industry News

Autobytel Powers

Autobytel Inc., a provider of online consumer leads and marketing services to the auto industry, announced Monday that its vehicle price quote and dealer selector platform will power, the recently launched car-buying portal of LendingTree LLC.

Tags: Autobytel, special finance

December 10, 2009 - Industry News

Geithner Extends TARP; Hopes to Spur Business Lending

Saying the recovery of the financial system remains incomplete, Treasury Secretary Timothy Geithner extended the government’s $700 billion Troubled Asset Relief Program (TARP) to October 2010, but promised to pledge no more than $550 billion.

Tags: NADA, Small Business Administration, TARP

December 10, 2009 - Industry News

Rep. Watt Looks to Eliminate Dealer Exemption From CFPA

The National Automobile Dealers Association (NADA) is mobilizing a nationwide grassroots effort today to oppose Rep. Mel Watt (D-N.C.)’s amendment to eliminate an exemption for auto dealers from the soon-to-be created Consumer Financial Protection Agency (CFPA).

Tags: Consumer Financial Protection Bureau, NADA

December 10, 2009 - Industry News

Industry Shows Signs of Stabilization, Says Experian

Despite continued economic struggles, the automotive lending industry in the U.S. showed signs of stabilization during the third quarter 2009, according to a quarterly analysis of automotive credit by Experian Automotive.

Tags: Auto Loans, Credit Scores, delinquencies, Experian