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Auto Sales Approach Record Numbers, But Risks Loom

Auto Sales Approach Record Numbers, But Risks Loom

October 22, 2014 at 11:45 am 0 comments

The auto industry is headed for a record year in 2015, according to Joe Derkos, director, consulting & analytics at J.D. Power & Associates. New vehicle spending is forecast to hit $407 billion in 2014, equal to the GDP of Austria. The average transaction price is also expected to hit $30,000 on the year, andRead More

Thomas Anderson Named New CEO of Exeter

Thomas Anderson Named New CEO of Exeter

October 22, 2014 at 7:50 am 0 comments

Blackstone Group-backed Exeter Finance Corp. named Thomas Anderson chief executive of the Texas-based subprime lender effective November 3, 2014. The company said in a release that current CEO Mark Floyd will continue serving on Exeter’s board and will work with Anderson to ensure a smooth transition.

Priorities for a Strong Commercial Lending Program

Priorities for a Strong Commercial Lending Program

October 21, 2014 at 5:14 pm 0 comments

Auto dealers have survived through up-and-down economic cycles, dealership acquisitions are on the rise again, the SAAR is in the 16.3 million-16.7 million range, and 2015 is projected to be slightly higher. All signs that point to the fact that the auto industry has made a strong comeback since theRead More

S&P To Redefine “Longer-Term Loans”

S&P To Redefine “Longer-Term Loans”

October 21, 2014 at 11:45 am 0 comments

In a discussion of the state of auto ABS at the Auto Industry Hot Topics Conference on Oct. 14, Amy Martin, senior director of asset-backed securities at Standard & Poor’s, said the company would soon revise its definition of “longer-term loans” with loans 72 months or longer, rather than 60 months orRead More

10 Fundamentals for Today’s Auto Finance Business Models

10 Fundamentals for Today’s Auto Finance Business Models

October 21, 2014 at 10:38 am 0 comments

How easy it is to forget the credit crisis, forget the auto finance downturn in the late 1990s, forget the fundamentals of the automotive lending and leasing business.

Who’s Who (and What They Want) on the Capital Markets

October 21, 2014 at 10:34 am 0 comments

For any auto finance company, capital is the lifeblood. And the capital markets are the ultimate source of funding for most auto finance ventures.

Cap One’s Auto Originations Up, Mainly in Prime

Cap One’s Auto Originations Up, Mainly in Prime

October 21, 2014 at 10:30 am 0 comments

Capital One Financial Corp. posted a 14% year-over-year growth in auto originations, according to its 3rd quarter earnings, released on Thursday. This was only good enough for a 1% increase from the previous quarter, however.

Average Subprime Loan Balances on the Rise [SPONSORED]

Average Subprime Loan Balances on the Rise [SPONSORED]

October 21, 2014 at 9:37 am 0 comments

While the average loan balance for subprime credit score borrowers has been rising, analysis shows that the average loan amount generally rises with a borrower’s Equifax Risk Score. Instead of granting larger loans to the full spectrum of subprime borrowers, lenders have been keeping loan sizes the same — basedRead More

Deutsche Bank: Subprime Auto Finance Still Isn’t Mortgage Finance

Deutsche Bank: Subprime Auto Finance Still Isn’t Mortgage Finance

October 21, 2014 at 9:30 am 0 comments

Cautionary subprime auto lending headlines have been splashed across the media lately, starting with a now-infamous New York Times article from mid-July. But Elen Callahan, director, Deutsche Bank, reminded attendees of the 2014 Auto Finance Summit why the current subprime auto market is not comparable to the mortgage market that led to theRead More

PNC Consumer Auto Loan Business Slowing

PNC Consumer Auto Loan Business Slowing

October 20, 2014 at 11:45 am 0 comments

While PNC Bank saw growth in auto finance last quarter, that growth was slowed because of declining credit quality. “It jumped in the quarter and that’s largely a categorical anomaly,” said Robert Q. Reilly, the bank’s executive vice president and chief operating officer, told analysts during the bank’s recent earnings call. “Most of the jumpRead More

Electronic Titles Are Becoming the Norm — What Will Be the Consequences? [SPONSORED]

Electronic Titles Are Becoming the Norm — What Will Be the Consequences? [SPONSORED]

October 20, 2014 at 9:27 am 0 comments

More and more states are opting for electronic title issuance over paper. How will this affect your business?

Auto ABS Still Booming as Four New Offerings Come to Market

Auto ABS Still Booming as Four New Offerings Come to Market

October 17, 2014 at 12:08 pm 0 comments

The auto ABS market continues to heat up with four notable offerings coming to market just this month.

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