Scottsdale, Ariz. — Beginning June 25, all graduates of the Automotive Dealership Institute’s finance and insurance program will be trained to use Lane Guide’s nationwide database to locate loan service centers and payoff departments.
The payment address provided by the borrower is often a third-party processor or a drop-box location. Lane Guide is able to identify the branch or administration office an F&I professional needs for payoffs, funds verification or credit inquiries. If a lender has closed, Lane Guide cross references the listing and provides information for the successor.
“Incorporating Lane Guide into our class curriculum is another way for ADI to train students for real-life, hands-on situations they will face while working in dealerships,” said Alan Algan, executive director/CEO of ADI.
Established in 1957, Lane Guide has been used by the automotive industry to locate information concerning payoffs, demands, ratings, verifications, returned check disposition, bank/lender mergers, acquisition references, mortgage discharges and other financial information. The Lane Guide lists more than 140,000 open and closed lenders, creditors and banks nationwide.
“We are pleased that ADI graduates will have access to the benefits of Lane Guide to see first-hand how our information can assist them in their daily operations within the dealership,” said Richard Lane, vice president of Lane Guide.
This lender directory offers a complete reference on all banks, savings banks, finance companies, mortgage lenders, loan servicers, credit unions and other major creditors. The listings include complete mailing address, phone and fax numbers, toll-free information lines, credit rating policies, bureaus reported to, rating hours and more. The directory data is available in regional print editions or nationwide on CD-ROM and the Internet. Each printed edition includes lenders nationwide that lend or provide service in that region.
Lane Guide uses LenderTrace, the largest closed lender database in the industry. The company also maintains the U.S. Master File of Closed Lenders, which indexes more than 36,000 lender names nationwide. For more information about Reno, Nev.-based Lane Guide, call 800-LANE-GUIDE or visit www.laneguide.com.