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TAG SEARCH RESULT: subprime

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May 13, 2015

Western Funding Launches New Program for Dealers

Western Funding has announced its Triple Pay program, which allows dealers to build a bankable portfolio and receive three different types of payments on the same deal — upfront checks, near portfolio closing and back-end payment streams.

May 5, 2015

Subprime Loan Percentage Falls to Lowest Level in Three Years

In the first quarter of 2015, the percentage of automotive loans that fell within the subprime and deep subprime risk categories made up 19.7% of the market — the lowest share since 2012, according to Experian Automotive.

April 7, 2015

Heasley Forms Nationwide Dealer and Financial Services Agency

Rod A. Heasley, a 37 year auto Industry veteran, has announced the formation of KISS Concepts Group, a master agency serving independent agents of the automotive and prime and sub-prime finance industry.

April 3, 2015

Ready Steady

Auto finance volumes were up in every risk tier in the fourth quarter 2014, suggesting that concerns over the uptick in subprime loans are exaggerated.

April 2, 2015

NYC Seeks to Remove Dealers from Subprime Auto Finance

The New York City Department of Consumer Affairs announced a new car loan initiative this month, which would direct subprime car buyers away from dealership financing to loans provided directly by banks and credit unions.

March 17, 2015

LendingTree Study Indicates Subprime ‘Auto Bubble’ Unlikely

A new study from LendingTree contradicts media claims of a subprime bubble. It shows that finance sources are not taking part in risky lending practices despite growing subprime originations.

March 10, 2015

Wells Fargo: Subprime Cap Part of ‘Ongoing Risk Management’

The bank’s dealer services division responds to the reported cap the finance source has placed on subprime auto originations.

March 10, 2015

Ready to Charge

Auto finance sources reveal that they, too, are focused on the customer experience, and say they are ready for what’s expected to be another great year for auto sales.

March 5, 2015

DOJ, N.Y. Regulator Subpoena Capital One

The finance source revealed in a regulatory filing last month that it has received a subpoena from the New York District Attorney’s Office and the Department of Justice regarding its subprime auto finance business.

February 26, 2015

Santander Agrees to $9.35 Million DOJ Settlement

Santander has agreed to settle charges that it illegally repossessed more than a thousand cars it financed for active service members over a five-year period.