Tricolor Auto Preps First Rated Securitization

Buy-here, pay-here lender Tricolor Auto Acceptance LLC is preparing to issue its first rated securitization, a $101.7 million transaction slated to close Nov. 21, according to a Kroll Bond Rating Agency presale report released this week. The securitization is backed by loans with a weighted average Fico score of 583 and a weighted loan-to-value ratio […]

Buy-Here, Pay-Here Group Settles FTC ‘Furnisher’ Charges

The finance arm for a chain of buy-here, pay-here dealerships agreed to pay more than $82,000 to settle Federal Trade Commission charges that the lender violated the rules for furnishing accurate consumer data to credit reporting agencies. “An inaccurate credit report can have a huge impact on consumers,” said Jessica Rich, director of the FTC’s Bureau of Consumer Protection, in […]

Tricolor Auto Expands HQ

Irving, Texas-based Tricolor Auto Group has bumped up the headquarters space it leases to 24,913 square feet from 16,763 square feet, according to a report on GlobeSt.com. The property is owned by Landlord Rosemont Realty LLC of Santa Fe, N.M. TriColor Auto (www.tricolorauto.com) has rented the location since April 2010. One of the fastest growing […]