SubPrime Auto Finance News Staff

On Friday, FactorTrust announced the addition of Lobel Financial to its growing list of financial service companies implementing its alternative credit data into their credit decisioning process. Lobel Financial, a finance company specializing in purchasing and servicing vehicle installment contracts from independent... Read More

Auto Approve names Kroshus as president & CEO

SubPrime Auto Finance News Staff

Bringing nearly 30 years of experience with him, Jerry Kroshus has been named president and chief executive officer of Auto Approve, a refinance company that specializes in helping consumers find the best possible vehicle interest rates through its national network of credit unions, banks and finance companies. Kroshus... Read More

Why CPS is going through a ‘painful process’

Nick Zulovich, Senior Editor

Consumer Portfolio Services chairman and chief executive officer Brad Bradley described how the subprime finance company is going through what he called a “painful process.” While the company’s originations are down from last year, its delinquencies didn’t spike to alarming levels. Rather,... Read More

SubPrime Auto Finance News Staff

Both consumers and dealers likely want to know potential buyers’ credit standing in order to facilitate delivery, and a new product fueled by CoreLogic and Equifax rolled out on Wednesday aims to accomplish that objective. Analytics and data-enabled solutions provider CoreLogic launched BuyerConnect; a solution... Read More

SubPrime Auto Finance News Staff

With contract holders’ ability to pay paramount, 700Credit now is offering Income PreCheck, an instant income and employment verification solution that can help dealerships verify buyers' stated income and employment. The verification is derived by accessing The Work Number, a database of employer-provided... Read More

SubPrime Auto Finance News Staff

LenderLive Services, a division of LenderLive Holdings, announced on Tuesday that it will now provide expanded compliance services through a new line of business: LenderLive Compliance Solutions. The company highlighted the new entity will offer both bundled and a la carte services to vehicle finance companies, credit... Read More

Down payments for used & new models on the rise

SubPrime Auto Finance News Staff

New auto finance analysis from Edmunds shows increases in term length and monthly payments. These metrics have made headlines for some time now as potential buyers focus on what they can fit into their budgets. But Edmunds also noticed an increase in another data point that might help to illustrate the work... Read More

SubPrime Auto Finance News Staff

License plate recognition (LPR) software and data solutions provider MVTRAC on Tuesday announced the closing of growth recapitalization of the company with Bison Capital Asset Management along with changes to its top leadership structure. MVTRAC shared Bison Capital’s investment will allow MVTRAC to... Read More