SubPrime Auto Finance News Staff

Nationwide recovery management and skip tracing firm Millennium Capital and Recovery Corp. made a total of eight personnel moves this week as five executives ascended into new positions, and three managers joined the company. According to a news release, the promotion of several key company leaders included: —... Read More

SubPrime Auto Finance News Staff

The auto financing process certainly has evolved significantly for the days of paper faxes, but Equifax emphasized that pre-approvals and credit checks remain a critical component of the automotive shopping process. Equifax unveiled additional analysis in its ongoing study of consumer credit and shopping trends with the... Read More

SubPrime Auto Finance News Staff

Platinum Auto Finance recently made a series of strategic moves, including an expansion in markets near its base in Florida while closing one of its facilities in North Carolina. The expansion portion of the subprime auto finance company’s strategy involves increasing its sales presence in key markets in Florida... Read More

SubPrime Auto Finance News Staff

Auto defaults dropped last month for the third consecutive month as the May reading now has settled below the 1-percent mark for the fourth year in a row. According to data through May released by S&P Dow Jones Indices and Experian, the auto finance default rate dropped 6 basis points from the previous month to land... Read More

Nick Zulovich, Senior Editor

In a case unrelated to auto finance, a ruling by a New York federal judge released this week found the Consumer Financial Protection Bureau to be unconstitutionally structured; an action that disagreed with the D.C. Circuit Court of Appeals stating to the contrary from earlier this year. Hudson Cook partner Lucy Morris... Read More

Joel Kennedy, Spinnaker Consulting Group

During the recent National Automotive Finance Association Non-Prime Financing Conference, I led “Fraud Friday” sessions where I presented my taxonomy of fraud and showcased two panels highlighting more of the unique and innovative solutions in the space today. While there is a lot of interest and enthusiasm... Read More

Mike Levison, ALS Resolvion

During the past 12 to 18 months, there has been a real increase in interest by lenders around the idea of establishing “all-in-one pricing” (AiO) with their repossession forwarders. Most of this interest has been spurred by concerns expressed by the Consumer Financial Protection Bureau regarding ancillary fees... Read More

SubPrime Auto Finance News Staff

This week during the National Independent Automobile Dealers Association’s Expo and Convention, Spireon introduced Quick Locate, the latest feature of its GoldStar GPS solution. The company highlighted Quick Locate can provide dealers and subprime auto finance companies instant visibility to vehicle location and... Read More

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