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December 3, 2015 - Industry News

BMO Completes Acquisition of GE's Transportation Finance Business

Photo courtesy of BMO Harris Bank.

The acquisition comes more than two months after BMO Harris Bank informed dealers it was exiting 12 states to refocus its indirect auto business.

Tags: BMO Harris Bank, Consumer Financial Protection Bureau, General Electric, lenders

November 24, 2015 - Industry News

CFPB Releases Fall 2015 Rulemaking Agenda

The Consumer Financial Protection Bureau recently released its fall 2015 rulemaking agenda. In it, the CFPB outlined its list of current initiatives that would help it govern consumer finance markets, including the auto finance industry.

Tags: auto finance, CFPB, Consumer Financial Protection Bureau, lenders

September 22, 2015 - Industry News

Black Book Identifies Underwriting Strategies for Lenders

In order to manage risk levels and achieve ongoing profitability, lenders need to use collateral and residuals in the underwriting process. That’s according to a new whitepaper from Black Book’s Lender Solutions division.

Tags: Auto Loan Terms, Black Book, lenders, underwriting and collections, White Paper

April 14, 2015 - Industry News

Black Book Adds VP of Lender Solutions

Black Book has selected Barrett Teague to serve as vice president of its Lender Solutions business.

Tags: Black Book, employment, Hiring, lenders

February 19, 2015 - Industry News

Five Trade Groups Urge CFPB to Fix ‘Flaws’ in Fair Lending Enforcement

A coalition of five trade groups representing the nation’s largest auto finance sources urged the CFPB to review and respond publicly to a study that questions its methodology for measuring disparities in dealer reserve.

Tags: BISG, CFPB, Consumer Financial Protection Bureau, discrimination, fair lending, lenders, NADA, reserve, Study

July 29, 2014 - Industry News

J.D. Power: Dealers Will Pay Premium for Good Service from Lenders

Sixty-six percent of dealers who were surveyed indicated that they are willing to pay as much as an additional 0.50 to 0.60 basis points on their loan terms to receive good service from their lenders.

Tags: J.D. Power and Associates, lenders, Study

April 8, 2014 - Industry News

NADA Used Car Guide: Credit Conditions to Become 'Slightly Less Favorable'

The NADA Used Car Guide expects credit conditions to become ‘slightly less favorable’ by the end of the year as finance sources take on more risk.

Tags: car prices, Credit, Experian, Federal Reserve, lenders, NADA Used Car Guide

January 28, 2014 - Industry News

700 Credit, Equifax Partner on Income and Employment Verification Solution

The two firms have partnered on a new solution for dealers that is designed to resolve “stips” raised by their finance sources, allowing them to instantly verify income and employment information.

Tags: 700Credit, auto finance, Employment Verification, Equifax, lenders

January 21, 2014 - Industry News

SFG Finance Achieves 30% Year-Over-Year Growth

SFG Finance announced this week that its portfolio grew 30% over the last year thanks to the company’s subprime flow program — an initiative in which independent, indirect auto lenders originate and immediately pass through auto loans that meet SFG Finance’s program guidelines.

Tags: buy-here, credit unions, lenders, pay-here, Portfolio, SFG Finance

December 19, 2013 - Industry News

Dealertrack Credit App Network Tops 1,400 Lender Connections

The Dealertrack Credit Application Network has grown from five lenders in 2001 to more than 1,400 lenders today, allowing dealers to electronically submit application data to a diverse network of banks, independent finance companies, captives and credit unions.

Tags: Credit Applications, credit unions, Dealertrack, lenders

November 14, 2013 - Industry News

Black Book Releases Collateral Insight Engine for Finance Sources

Black Book’s new Collateral Insight Engine is designed to help auto finance sources analyze historical, current and projected vehicle values in real time.

Tags: Black Book, lenders, SAAR

August 22, 2013 - Industry News

Equifax Solution Provides Consumer Credit Insights

Finance sources using the new Equifax Dimensions can see up to two years of detailed consumer credit activity, allowing them to make more precise and profitable lending decisions.

Tags: credit reports, Equifax, lenders

May 7, 2013 - Industry News

Dealertrack Hits Lender Connection Milestone

Dealertrack’s credit application network, which allows dealers to electronically submit application data to a diverse network of finance sources, has exceeded 1,300 active lenders.

Tags: active lenders, Dealertrack, Dealertrack Credit Application Network, lenders, milestone

January 29, 2013 - Industry News

NIADA Expands Relationship with Wolters Kluwer

The National Independent Automobile Dealers Association added Wolters Kluwer Financial Services to its National Corporate Partner Program.

Tags: dealers, lenders, National Corporate Partner Program, NIADA, Partnership, Wolters Kluwer Financial Services

June 19, 2012 - Industry News

WordPress Releases Car Loan Calculator Widgets and Plugins

Car dealers and small lenders can now add value to their websites with the recently upgraded free loan widgets and new WordPress Plugins from CarLoanCalculator.me.

Tags: car loan, CarLoanCalculator, lenders, plugins, widgets, WordPress

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