auto loan origination - Tagged Posts

Auto Delinquency Soars in Q1

S&P Global Mobility reports auto loan delinquency exceeded recession-era highs in the first quarter.

Equifax: Finance Sources Pull Back From Subprime, Leasing

January saw a significant drop in lease originations, as finance sources placed a greater emphasis on loan incentives, according to Equifax. The firm also reported that subprime accounts fell to their lowest share of the market since 2006.

New York Fed: Auto Originations Reach 18-Year High in 2016

Every type of debt posted a quarter-over-quarter increase, with auto loan balances increasing by $22 billion ($93 billion from a year ago) to $1.16 trillion. Much of that growth was driven by originations, which totaled $142 billion. That’s the highest level recorded in the 18-year history of New York Fed’s data.

Auto Loan Balances Top $1 Trillion in Q3, TransUnion Reports

Despite auto loan balances rising by $101 billion, delinquencies remained flat from a year ago. Officials with the credit reporting agency said their seeing controlled and deliberate growth by lenders.

Q3 Auto Originiations Up at Wells Fargo, Chase Auto Finance

Wells Fargo and Chase Auto Finance grew third-quarter auto originations by 10% and 19%, respectively, with a Wells Fargo official noting that new auto sales were at their highest levels in a decade.

Wells Pulls Back, Chase Sees Thinner Margins

The country’s largest auto lender, Wells Fargo, tempered its auto lending activities in 2015’s first quarter, with new originations down 10% from the previous year. Also reporting was J.P. Morgan Chase, which increased originations by 9%.

Fiserv Credit Platform Reaches Milestone for Funded Contracts

Fiserv reports that econtracts comprised nearly 20% of all funded contracts on its end-to-end auto loan origination solution.

FirstClose Partners With Dent Wizard on New Service Plan

Users of FirstClose's online loan origination service will now be able to offer an exclusive auto appearance service plan designed by Dent Wizard, the two companies announce.

Equifax: Auto Loans Make Up Half of New Non-Mortgage Credit

Auto loan originations totaled more than $196 billion in May 2013, representing more than half of all new non-mortgage consumer credit originated in 2013, according to a new report from Equifax.

Three Top 20 Finance Sources Report Solid Loan Growth in 2012

Chase, Wells Fargo and Huntington Bank report expanded auto lending in the fourth quarter 2012 vs. the same quarter in 2011.