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near prime financing

Southside Launches National Subprime Loan Portfolio Program

Southside Financial Group announced the launch of a nationwide program to purchase existing nearprime and subprime auto loan portfolios ranging from $500,000 to $40 million.

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Auto Finance Driving Sales in Early April

Despite a slew of market challenges, the automotive retail market continues to motor along. In the driver’s seat is an improving auto finance market, CNW stated in its April Retail Automotive Summary.

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.

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.

Finance Express Adds Gateway One to Lender Platform

Finance Express, a provider of Web-based financial services and technology for independent auto dealerships, said that Gateway One Lending & Finance (GOLF), a lender specializing in prime and near-prime paper, joined the Finance Express platform.

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.

RouteOne Integrates With Westlake Financial Services

RouteOne LLC completed integration with California-based Westlake Financial Services, a privately held finance company specializing in the acquisition and servicing of near-prime to subprime automotive retail installment contracts.

Approvals Improve for Prime and Near Prime; Fall for Subprime

Auto loan approvals improved in July for the prime and near prime markets, but shoppers in the subprime market continued their struggle to get approvals by conventional means, according to CNW Research.

Westlake Financial Enters Hawaii Market

Westlake Financial Services recently expanded into the state of Hawaii. Westlake now operates in 37 states, with Hawaii-based contracts accepted starting May 1, 2009.

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More Than 700,000 Credit Applications Rejected in 1Q, Says CNW

Despite sales being off by nearly 40 percent from the first three months of last year, credit-application rejections increased 329 percent from the same period last year, according to CNW Research.

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