"Any data that correlates the dollar loss experience with the average term of loan? Or the average interest rate on the loan being charged off? "
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Frank Rauscher commented on Nikki Mascali's blog post Experian: Auto Delinquencies, Repo Rates Increased in 1Q13
Nikki Mascali's blog post was featuredExperian: Auto Delinquencies, Repo Rates Increased in 1Q13
Auto loan delinquencies and repossession rates rose in the first quarter, according to Experian Automotive’s State of Automotive Finance Report. When compared with 1Q12, 30-day delinquencies rose 1.3%, 60-day delinquencies had an uptick of 12.4%, and repos increased 16.9%."Obviously, we never want to see a rise in delinquencies or repossessions, but when you compare the current findings with previous years, they are still lower than the recession-level rates," said Senior Director of Automotive…See More
Nikki Mascali posted a blog postExperian: Auto Delinquencies, Repo Rates Increased in 1Q13
Auto loan delinquencies and repossession rates rose in the first quarter, according to Experian Automotive’s State of Automotive Finance Report. When compared with 1Q12, 30-day delinquencies rose 1.3%, 60-day delinquencies had an uptick of 12.4%, and repos increased 16.9%."Obviously, we never want to see a rise in delinquencies or repossessions, but when you compare the current findings with previous years, they are still lower than the recession-level rates," said Senior Director of Automotive…See More
Nikki Mascali's blog post was featuredBMWFS Makes Changes to U.S. Executive Team
BMW Group Financial Services yesterday announced changes to its U.S. executive team that will take effect June 1.Shaun Bugbee will move to Germany to become the head of new markets for Europe, and Fred Isele will assume his role of vice president, sales and marketing for BMWFS, which supports BMW, Mini, Rolls-Royce, and BMW motorcycles. Isele joined BMWFS in 2001 after 11 years at BMW North America. He became president of Alphera Financial Services, which finances other franchises owned by BMW…See More
Nikki Mascali posted a blog postBMWFS Makes Changes to U.S. Executive Team
BMW Group Financial Services yesterday announced changes to its U.S. executive team that will take effect June 1.Shaun Bugbee will move to Germany to become the head of new markets for Europe, and Fred Isele will assume his role of vice president, sales and marketing for BMWFS, which supports BMW, Mini, Rolls-Royce, and BMW motorcycles. Isele joined BMWFS in 2001 after 11 years at BMW North America. He became president of Alphera Financial Services, which finances other franchises owned by BMW…See More
William Fowler commented on Nikki Mascali's blog post Lawyer: CFPB on ‘Warpath’ for Auto-Lending Add-On Products"Putting to much power in the hands of petty government officials is nothing but trouble. So make the CFPB go to court and prove their case that is the proper execution of law."
Frank Rauscher commented on Nikki Mascali's blog post Lawyer: CFPB on ‘Warpath’ for Auto-Lending Add-On Products"Unfortunately, the banking industry has lost the trust of everyone including the regulators because of all the abusive, deceptive, irresponsible actions over the last decade. The captive finance companies contributed to it as they gained power while…"
William Fowler commented on Nikki Mascali's blog post Lawyer: CFPB on ‘Warpath’ for Auto-Lending Add-On Products"The Dodd-Frank Act authorizes the Bureau to conduct investigations to ascertain whether any person is or has been engaged in conduct that, if proved, would constitute a violation of any provision of Federal consumer financial law. Section 1052 of…"
Nikki Mascali's blog post was featuredLawyer: CFPB on ‘Warpath’ for Auto-Lending Add-On Products
Auto lenders are under the Consumer Financial Protection Bureau’s microscope, as the agency issued subpoenas regarding the sale of extended warranties and other financial products, people close to the matter said in a published report.Lenders worry the investigation could put the brakes on strong auto-loan activity. Any impending regulation could affect millions of borrowers for new and…See More
Nikki Mascali posted a blog postLawyer: CFPB on ‘Warpath’ for Auto-Lending Add-On Products
Auto lenders are under the Consumer Financial Protection Bureau’s microscope, as the agency issued subpoenas regarding the sale of extended warranties and other financial products, people close to the matter said in a published report.Lenders worry the investigation could put the brakes on strong auto-loan activity. Any impending regulation could affect millions of borrowers for new and…See More
Nikki Mascali's blog post was featuredSEC: Cap One, Former Execs Played Down Auto Loan Losses
Capital One Financial Corp. will pay a $3.5 million fine to settle allegations of understating millions of dollars in auto-loan losses prior to the recession, said the U.S. Securities and Exchange Commission yesterday.The SEC said the lender minimized its auto finance losses by 18% in the second quarter of 2007 and by 9% the following quarter, a time most lenders' profits stemmed from subprime loans. The agency’s investigation discovered that Capital One Auto Finance’s charge-offs and…See More
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Experian: Auto Delinquencies, Repo Rates Increased in 1Q13
Posted on May 15, 2013 at 3:26pm 1 Comment 0 Likes
Auto loan delinquencies and repossession rates rose in the first quarter, according to Experian Automotive’s State of Automotive Finance Report. When compared with 1Q12, 30-day delinquencies rose 1.3%, 60-day delinquencies had an uptick of 12.4%, and repos increased 16.9%.
"Obviously, we never want to see a rise in delinquencies or repossessions, but when you compare the current findings with previous years, they are still lower than the recession-level rates," said Senior Director of…
Continue GM Set to Spend $200 Million on California, East Coast Dealership Upgrades
Posted on May 14, 2013 at 10:30am 0 Comments 0 Likes
General Motors Co. plans to spend more than $200 million to help dealers in metro regions of California, New York, and New Jersey renovate, move, or close showrooms, people close to the matter told The Detroit News.
The move is geared toward increasing sales and gaining marketshare in these regions, where the automaker…
Continue AFSA: 'Significant Burden' on Lenders If Foreign Language Amendments Pass
Posted on May 13, 2013 at 3:00pm 0 Comments 0 Likes
Amendments pending in 18 states would require financiers to translate consumer contracts into 300 languages, according to an analysis by the American Financial Services Association. Such translation, AFSA state government affairs committee said in a recent white paper, would impose "a significant burden on the industry."
Specifically, California, Nevada, and New Mexico have gone beyond the U.S. Civil Rights Act of 1964 to propose or enact legislation or regulations for the contracts,…
Continue BMWFS Makes Changes to U.S. Executive Team
Posted on May 9, 2013 at 3:30pm 0 Comments 0 Likes
BMW Group Financial Services yesterday announced changes to its U.S. executive team that will take effect June 1.
Shaun Bugbee will move to Germany to become the head of new markets for Europe, and Fred Isele will assume his role of vice president, sales and marketing for BMWFS, which supports BMW, Mini, Rolls-Royce, and BMW motorcycles. Isele joined BMWFS in 2001 after 11 years at BMW North America. He became president of Alphera Financial Services, which finances…
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