The National Automotive Finance

(NAF) Association says there was an increase of over 25 percent in the

numbers of people attending and companies exhibiting at their 7th

Annual Non-Prime Auto Lending conference, June 18-20 in Chicago.

"We've seen steady growth in attendance every year," says Jack

Tracey, executive director of the Association, "but this year's

growth is pretty impressive." More than 140 companies were

represented among the speakers, conference attendees, sponsors and

exhibitors.

The Association credits the growth, at least in part, to

pertinent content. "The program is created by people who work in the

industry and so it is always relevant," says Steve Hall, Eastern

Automotive Group and president of the Association, "and, after seven

years, people know that attending the conference is time well spent."

A crossfire session, following the successful format used in the

Association's regional workshops, opened the conference on the

afternoon of the 18th. A panel of executives from leading finance

companies and dealerships debated the tough issues facing non-prime

auto finance today. Participants included: Paul Snider, CIQ,

Inc./VOISYS; John W. Bening, Bening Automotive Group; Keith M.

Wiesman, Dealer Diversified LLC; Brent West, Triad Financial

Corporation; and V. Eric Pointer, Credit Union Services, Inc.

Thursday's program opened with an economic forecast from David

McKay, senior director J.D. Powers and Associates. He focused on

opportunities for and threats to non-prime auto lending in the coming

year.

Technology issues continue to interest the industry.

"Web-based Aggregators," a panel moderated by Steve Hall, Eastern

Automotive Group, and including Rich McLeer, Dealer Track, Patrick

Ghere, Bankers Integration Group, and Kelly Mankin, Route One,

discussed the opportunities and challenges of immediate Internet

access to multiple funding sources.

"Electronic Contracting," a panel including Ed Jen,

DealerTrack, Inc., Chip Riordan, First American CMSI, R. David

Whitaker, Goodwin Proctor, LLP, Christoper Estaphan, Lehman Brothers,

and Dan Doman, RouteOne presented another important technology issue

that is changing and streamlining the dealer-originated auto

financing.

NAF Association's legal affairs subcommittee, chaired by David

Kotkin, presented two panels to discuss issues that included: OFAC

list; product/payment packing cases; collection practices; privacy

safeguards; USA Patriot Act; bankruptcy law; and customer

identification programs.

An additional legal session on the implications on delaer markup

from discrimination law suits was presented by Anne Fortney, partner,

Hudson Cook LLC.

Tom Webb, chief economist, Manheim Auctions, provided a

comprehensive overview of the volatile used car market that so

markedly affects non-prime auto lending.

The annual membership meeting was held on Friday morning.

Tracey reported that the Association has added 37 new members since

the 2002 conference. Elections were held to fill positions on the

board of directors. New to the board are: Paul Rule, Bank One; Rod

Rifai, Consumer Portfolio Services; and Lou Loquasto, Wells Fargo

Financial Acceptance.

The annual non-prime auto lending survey has been completed and

results compiled. According to Marcie Belles, Momentic Research, who

managed this year's survey, non-prime lenders continue to refine

their web-based lending tactics. Responding lenders are increasingly

using the internet for loan pre-qualifications and approvals, while

curtailing their use of the web for functions such as advertising and

loan servicing. The survey will be published in July.

ACS and DealerTrack were corporate sponsors of the 7th annual

conference. The large exhibit area, open throughout the conference,

gave those attending the opportunity to learn about recent

developments in products and services for the industry, says the company.

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