Credit Online, Inc., a member of The First American Corporation family of companies, has announced the addition of World Omni Financial Corp. to the growing list of companies within its online network of automotive sellers, buyers and finance sources.
Credit Online's technology electronically connects businesses that are credit originators - such as automotive dealers - to credit bureaus and multiple funding sources or "electronic" lenders throughout the United States and Canada via the Internet. According to Credit Online, the service is available 24 hours a day, seven days a week, expediting the credit application approval process. The service also provides communication and analysis tools that cater to a finance and insurance manager's need to increase productivity in the key profit center of the dealership, according to Credit Online.
World Omni Financial Corp. is an automotive finance company that assists dealers in growing their businesses with loans for floorplanning and endeavors such as vehicle inventory, capital improvements, expansion and new acquisitions.
Howard L. Tischler, Credit Online's president and chief executive officer said, "We are very pleased to welcome World Omni to the expanding family of Credit Online lenders. Its strong position in the market, particularly in the southeastern states further strengthens our CreditConnection technology as the industry standard for dealers to connect electronically with their lenders."
"World Omni has a long-standing commitment to providing outstanding service for our dealers," said Brent Burns, president of World Omni. "We believe that joining the Credit Online Network will allow us to raise this service to a new level."
About World Omni Financial Corp.
World Omni Financial Corp is an automotive-related finance and leasing operation. According to World Omni, the company manages approximately $10 billion of receivables representing 560,000 automotive lease and retail contracts and approximately $1.2 billion of automotive commercial loans. Additional information can be found at www.jmfamily.com/worldomni/default.htm.
About Credit Online
Credit Online is the e-commerce subsidiary of First American CMSI. The company credit-enables business-to-business transactions through its Internet gateway and CreditConnection technology, which links credit originators such as automobile dealers and borrowers with prime and non-prime lenders. First American also licenses credit -decisioning systems for consumer and business credit. For more information, visit the Web site at www.cmsinc.com.
About The First American Corporation
The First American Corporation is a diversified provider of business information and related products and services. The corporation's three primary business segments include: title information and services, real estate information and services which includes mortgage information services, and consumer information and services, which provides automotive, subprime and direct-to-consumer credit reporting, direct-to-consumer public records reporting, resident screening, pre-employment screening, automotive title administration, property and automotive insurance tracking services, property and casualty insurance, home warranties, investment advisory, and trust and banking services. For more information, visit www.firstam.com.
