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loan originations

Equifax: Subprime Pullback Continued in Q1

Subprime originations fell 4.5% from a year ago to 1.841 million in the first quarter, a period in which total outstanding balances topped a quarter trillion, the firm reported.

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CU Direct Claims $30 Billion in Auto Loans, Pays Cash Dividend

Credit unions funded 1.4 million loans through CU Direct’s Lending 360 and CUDL lending platform, generating a record $30 billion in credit union auto loans in 2016 and surpassing the $26 billion in loans the company funded in 2015.

Wells Fargo Reports Record Originations for 2015

Fueled by falling gas prices and record new-vehicle sales, Wells Fargo originated a record $31 billion in auto loans for 2015.

Ally Increases Used, Nonprime Originations With Loss of GM Lease Business

Ally’s second quarter originations were flat from a year ago despite the loss of General Motors’ lease business, with the company shifting its origination mix toward used and nonprime.

Western Funding Has Biggest Month in Company History

During the month of June, Western Funding funded 906 deals for $11.2 million in contracts — its biggest origination month ever.

Credit Unions Now Third Largest Auto Lender Type, CUDL Reports

Credit unions are competing aggressively in the automotive marketplace, financing one in four auto loans so far in 2015, CU Direct reports.

Market on the Move

The auto finance industry broke new ground in several reporting categories in the first quarter. But not all records are meant to be broken.

Moody’s: Subprime Auto Risk Factors on the Rise

With subprime auto lending volumes having more than doubled since the 2009 financial crisis, Moody’s expects to see higher credit losses, which have been gradual so far.

GM Financial Resists Market Share Race

GM Financial reported this week a decrease of about $200 million in North American consumer loan originations for the quarter. But there’s a reason for that, says the company’s chief executive.

Equifax: Auto Loans Make Up Half of New Non-Mortgage Credit

Auto loan originations totaled more than $196 billion in May 2013, representing more than half of all new non-mortgage consumer credit originated in 2013, according to a new report from Equifax.