Marcie Belles's Blog – December 2011 Archive (5)

Sizing Up the Competition

Ask anyone in auto finance, and they’ll tell you that competition is getting tougher. New companies are cropping up, LTVs are inching higher, and lenders are developing more innovative products.

But how will competition in 2012 differ from competition in years past? What must lenders do to prepare for the showdown? And what’s the likelihood the industry will emerge unscathed?

Added by Marcie Belles on December 16, 2011 at 10:30am — 2 Comments

The Occupier Effect

A faction of the “Occupy Wall Street” campaign has set its sights on the education finance sector. Its strategy: urging people to default on their student loans.

The Occupy Student Debt Campaign, as the initiative is called, was formed as “a response to the student debt crisis and the dependency of U.S. higher education on debt-financing from the people it is supposed to serve,” according to its web…

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Added by Marcie Belles on December 8, 2011 at 12:30pm — 2 Comments

Bank of America, DataScan Launch Car-Buying Site

Consumers in the market for used cars can secure vehicle inspections, financing, and protection plans online, thanks to a new venture developed by Bank of America and inspection company DataScan Field Services.

The service, available at PRNDL.com (pronounced Prindle), is available for cars, boats, and RVs.

“Our goal is to provide consumers with one tool to streamline what can be a cumbersome process when purchasing a used car,”…

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Added by Marcie Belles on December 8, 2011 at 12:00pm — 1 Comment

N.Y. Auto Fraud Rings Scam 18 Lenders

A three-year investigation has ended with the indictment of 18 people who allegedly defrauded 18 financial institutions to the tune of $1.9 million. At the heart of the two fraud schemes: 47 loans for high-end vehicles.

Here’s how the alleged fraud went down, according to New York City Police Department and the Queens County District Attorney’s Office, which…

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Added by Marcie Belles on December 1, 2011 at 3:00pm — 7 Comments

Beige Book Highlights Solid Auto Sales

Though overall economic activity has increased at a “slow to moderate pace,” auto sales have fared well, according to the Beige Book, an economic report culled from the Federal Reserve Bank’s 12 districts.

Here’s a look at the auto-related data from yesterday's Beige Book: