NIADA adds Nicholas Financial as newest industry partner
Wednesday, February 28, 2018 - 11:32am
Wednesday, February 28, 2018 - 11:32am
New Nicholas Financial president and chief executive officer Doug Marohn is continuing to make moves to bolster the finance company that specializes in subprime vehicle installment contracts. After recently highlighting plans to enhance originations along with installing an interim chief financial officer, the National... Read More
Equifax sees encouraging payment activity in subprime
Tuesday, February 27, 2018 - 11:46am
Tuesday, February 27, 2018 - 11:46am
As consumers start to edge away slightly from new-vehicle leases toward financed installment contracts for used vehicles, Equifax Automotive deputy chief economist Gunnar Blix is encouraged by recent payment performance — no matter what type of deal is attached to the unit. The latest Equifax data showed auto... Read More
3 former Spireon executives resurface with new GPS solution from Procon Analytics
Monday, February 26, 2018 - 11:41am
Monday, February 26, 2018 - 11:41am
A trio of experienced executives who previously were leaders at Spireon now are overseeing new product development at Procon Analytics, including a tool specifically aimed at the subprime auto finance space. Procon Analytics recently announced the company is entering the vehicle finance industry with an advanced risk... Read More
Fitch examines what’s ahead for captives
Monday, February 26, 2018 - 11:40am
Monday, February 26, 2018 - 11:40am
Fitch Ratings recently took a deeper look at the captive segment of auto financing, projecting their performance and potential revenue push toward their parent automaker. Analysts determined the trend of rising leverage for U.S. captive auto finance companies, fueled by strong new-vehicle retail financing and lease... Read More
Texas credit union praises CRIF Select for help during Hurricane Harvey recovery
Friday, February 23, 2018 - 11:30am
Friday, February 23, 2018 - 11:30am
Six months since Hurricane Harvey battered the Lone Star State, Federal Emergency Management Agency (FEMA) said Texans in coastal towns, urban areas and rural counties continue to move forward with their unprecedented recovery. And CRIF Select highlighted how it’s been involved with that process for Texas Dow... Read More
As composite rate climbs, January auto defaults dip
Friday, February 23, 2018 - 11:26am
Friday, February 23, 2018 - 11:26am
The composite reading of the S&P/Experian Consumer Credit Default Indices rose again in January, representing the sixth uptick of the past seven months. But it was the auto finance component of the overall index that propelled the continued upward drift. According to data released this week by S&P Dow Jones... Read More
Latest Black Book white paper offers 4 subprime success strategies
Thursday, February 22, 2018 - 10:06am
Thursday, February 22, 2018 - 10:06am
While some auto finance companies are backing off their originations in the subprime space as TransUnion articulated earlier this week, Black Book is arming managers and underwriting departments with new analysis for institutions still looking to add paper developing in lower credit tiers. Black Book announced late on... Read More
Partnership rundown: Expansions at LAUNCHER.SOLUTIONS and F&I Express
Wednesday, February 21, 2018 - 11:59am
Wednesday, February 21, 2018 - 11:59am
Both LAUNCHER.SOLUTIONS and F&I Express each enhanced their offerings for dealerships and finance companies by adding more industry partners. LAUNCHER.SOLUTIONS, a technology provider specializing in subprime auto finance originations, recently announced that it has added Kelley Blue Book to its list of data... Read More