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GMF Subpoenaed Again

GMF Subpoenaed Again

October 24, 2014 at 4:51 pm 0 comments

General Motors Financial Company Inc. received an additional subpoena from the Department of Justice in September, according to a 10-Q filed Thursday with the Securities and Exchange Commission. In the filing, GMF explained that the company had been served with “additional investigative subpoenas to produce documents from state attorneys generalRead More

Asbury Automotive Names New COO on Heels of Earnings

Asbury Automotive Names New COO on Heels of Earnings

October 24, 2014 at 11:47 am 0 comments

David W. Hult will be the new chief operating officer of Asbury Automotive Group, the company announced on Thursday, effective November 3rd.

Huntington to Return to ABS Market in 2015

Huntington to Return to ABS Market in 2015

October 23, 2014 at 10:51 am 0 comments

Steve Steinour, chairman, president, and chief executive at Huntington Bancshares announced, during the 3Q earnings call on Friday, that the bank will most likely offer auto securitization in the coming year.

To Target Millennials, You Must Know Millennials

To Target Millennials, You Must Know Millennials

October 23, 2014 at 10:45 am 0 comments

Millennials are known as the toughest sell for lenders and auto dealers alike. Thanks to a balance of education and nascent careers, this generation is in a state of flux while trying to figure out how to finance their lives. Superlatives abound for this generation. They are the most ethnically and culturally diverseRead More

New Rules for ABS Transparency on the Way

New Rules for ABS Transparency on the Way

October 23, 2014 at 9:35 am 0 comments

As part of Congress’ directive to implement significant risk retention programs, federal regulatory agencies including the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency and the Office of the Comptroller of the Currency all adopted the credit risk retention requirements of section 941 of the Dodd-Frank Act for asset-backed securities.

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 1 comment

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.

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