SubPrime Auto Finance News Staff

Global Lending Services, Credit Acceptance and Consumer Portfolio Services all have been active in the securitization space during the past 60 days; moves by the subprime auto finance companies that involved more than $1.1 billion in value. The most recent move arrived this week as Kroll Bond Rating Agency (KBRA)... Read More

CFPB disbands Consumer Advisory Board

SubPrime Auto Finance News Staff

An official from the Consumer Financial Protection Bureau described this week’s moves as “transforming the way we engage.” Meanwhile, members of bureau’s Consumer Advisory Board called it a “firing.” The contrasting views about this segment of the regulator surfaced through a CFPB... Read More

Nick Zulovich, Senior Editor

Dave Kennedy and Les McCook of the American Recovery Association shared some vivid anecdotes originating from meetings with Jack Tracey and Joel Kennedy of the National Automotive Finance Association along with leadership of close to 30 finance companies with large and small portfolios. “They saw the hardship that... Read More

SubPrime Auto Finance News Staff

When GWC Warranty announced several additions to its sales leadership team, the provider of used-vehicle service contracts sold through dealers didn’t go with “green peas” to fill these positions. This week, GWC Warranty highlighted that five newly created regional sales manager (RSM) positions were... Read More

Nicholas Financial installs permanent CFO

SubPrime Auto Finance News Staff

Nicholas Financial has a new chief financial officer. According to a recent announcement, Kelly Malson will become the subprime auto finance company’s CFO effective on or before June 15. Malson will replace Chad Steinorth, who rejoined the institution on March 1 as vice president and interim CFO. Before coming... Read More

SubPrime Auto Finance News Staff

Here is another development in the industry’s effort to help contract holders make their monthly payments in ways they prefer.  Payment technology and services provider BillingTree recently announced that auto dealer management specialists Car-Ware will integrate the myPayrazr solution suite into its software... Read More

SubPrime Auto Finance News Staff

With more data than ever to consider, the National Automotive Finance Association and the American Financial Services Association highlighted seven of the most important findings from this the 2018 Non-Prime Automotive Finance Survey. Released last week during the annual Non-Prime Auto Finance Conference, the NAF... Read More

New-car financing tightens up

Joe Overby, Staff Writer

Interest rates on new-car financing is at a near-decade high, and zero-percent deals are at a seven-year low, according to Edmunds — all while the average total amount and monthly payment on new-car finance packages has reached record levels, says Experian. In short, the new-car finance market has tightened... Read More

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