FARMINGTON HILLS, Mich. -- Chrysler Financial, a unit of DaimlerChrysler Financial Services Americas, recently announced it has expanded its non-prime financing alliance with CitiFinancial Auto. "Chrysler Financial is delighted to join with CitiFinancial Auto in support of our Chrysler, Jeep and Dodge dealers,"... Read More

HUNT VALLEY, Md. -- Lee & Mason of Maryland Inc. is now offering auto lenders an innovative new program called Debt Protection that is designed to help increase loan contract volume, decrease delinquencies, increase fee income and more. Debt Protection can be added as an addendum to a loan contract. Through the... Read More

COSTA MESA, Calif., and TORONTO -- Experian recently announced enhancements to its anti-money laundering detection platform to provide additional capabilities and flexibility for financial institutions as they monitor, investigate and report suspicious monetary activity. The company has added advanced risk scoring and case... Read More

Flex Fund Financial Services Introduced

NEWPORT BEACH, Calif. -- Several industry veterans recently launched Flex Fund Financial Services to provide used-inventory floor-planning services for dealers and salvage buyers. Discussing the new company's services with SubPrime Auto Finance News, Cliff James, Flex Fund's chief executive officer and board... Read More

DETROIT -- In a recent survey, GMAC discovered that the majority of consumers are well-informed about the vehicle-purchasing process; however, executives said shoppers could take more time to understand their credit scores before reviewing financing options. Meanwhile, AAA reports that many consumers continue to be... Read More

DEARBORN, Mich. -- Ford Motor Credit announced it is consolidating and centralizing most of its originations and servicing operations in the United States to help reduce costs and improve process efficiencies. Moreover, the company said it is making salaried personnel reductions, which cover about 2,000 positions in the... Read More

TORONTO -- DealerAccess Canada announced it has launched the eF&I Certified Finance Interface with Reynolds and Reynolds Canada as an enhanced bidirectional interface between the REYNOLDSYSTEM and the DealerAccess portal. Executives noted that the interface of DealerAccess with the REYNOLDSYSTEM has been officially... Read More

SOUTHFIELD, Mich., and FORT WORTH, Texas -- Credit Acceptance Corp. recently announced the completion of a $50-million credit facility, while AmeriCredit announced its 55th asset-backed securitization for $1.2 billion. Credit Acceptance Corp. said it completed a $50-million credit facility with Variable Funding Capital... Read More