CPS AI voice bot to target collections
Consumer Portfolio Services is using artificial intelligence to improve collections, streamline communication with consumers and fund deals faster. Irvine, Calif.-based ...
Tag: subprime financing
CPS originations up 36% year over year
Consumer Portfolio Services’ originations grew in the second quarter while credit performance weakened. The Irvine, Calif.-based lender’s originations rose 24.7% ...
Net losses rise across prime, nonprime auto ABS
Credit performance across prime and nonprime securitized auto loan pools continued to weaken in June, driven by seasonal consumer spending ...
Higher losses prompt rating downgrades on subprime securitizations
S&P Global has again lowered its ratings on a 2022 Flagship Credit Acceptance auto securities transaction as loss expectations rise ...
Podcast: ‘Weekly Wrap’ on rising debt, tech, compliance
Higher insurance costs are exacerbating affordability and funding challenges for subprime borrowers as the auto finance industry continues to navigate ...
Buried: Subprime borrowers sink under mounting insurance costs
Consumers are being buried in debt as rising costs for everyday expenses force many to turn to credit cards to ...
CAF looks to increase penetration in nonprime
CarMax Auto Finance plans to increase its penetration rate in lower credit tiers after affordability challenges continued to hamper sales ...
CACC extends credit facility amid portfolio growth
Credit Acceptance Corp. has extended its credit facility with a commercial bank syndicate and updated the interest rate on borrowings ...
