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Capital One Sees Charge-Offs, Delinquencies Rise in July

August 16, 2017 at 12:35 pm 0 comments

Capital One Financial Corp. reported a month-over-month rise in charge-offs and delinquencies by 0.06% and 0.36%, respectively, according to a monthly report ending July 31. The rise in charge-offs is in line with previous statements from Capital One, including its second-quarter earnings. Charge-offs rose to 1.8% in July, and delinquencies 30Read More

SuperMoney’s Direct Auto Aggregator Spotlights Full Cost of Interest Rates

SuperMoney’s Direct Auto Aggregator Spotlights Full Cost of Interest Rates

August 16, 2017 at 12:00 pm 0 comments

The loan offer engine SuperMoney is launching a direct vehicle finance vertical today with roughly 20 participating auto lenders, the website’s founder Miron Lulic told Auto Finance News. SuperMoney’s platform launched with personal loans in April which could include unsecured auto purchases, but the new vertical allows for secured, unsecured,Read More

BB&T Boosts Subprime Portfolio 15%

BB&T Boosts Subprime Portfolio 15%

August 16, 2017 at 10:00 am 0 comments

Although BB&T Bank’s loan volume is declining overall, subprime outstandings grew 14.7% year over year, the lender said during its second-quarter earnings call last month. Regional Acceptance Corp. — the subprime unit of BB&T, which accounts for nearly a third of the bank’s overall book — grew its portfolio toRead More

8 Tips for Improving Collection Practices

8 Tips for Improving Collection Practices

August 16, 2017 at 9:45 am 0 comments

Delinquencies continue to climb to levels unseen since the financial crisis, which is why many lenders are focused on improving collections practices and bolstering their loss mitigation strategies. Auto Finance News spoke with four collections experts to pinpoint best practices and optimal strategies for mitigating losses and improving collections. HereRead More

Polaris Ups Investment in Rewards Program to Power Dealers

Polaris Ups Investment in Rewards Program to Power Dealers

August 16, 2017 at 9:00 am 0 comments

Polaris Industries Inc. made a “strategic shift” in its promotional strategy this year to invest more in its dealer retail rewards program, Matt Homan, the OEM’s president of off-road vehicles, said at during the company’s analyst and investor meeting in late July. “Dealers have goals, and if a dealer meets theirRead More

Collect More, Spend Less: An ROI Guide to Collecting Through Digital Channels [SPONSORED]

Collect More, Spend Less: An ROI Guide to Collecting Through Digital Channels [SPONSORED]

August 16, 2017 at 9:00 am 0 comments

If your collections strategy is limited to predictive dialing, you could be wasting $4 to $7 on each contact — and it’s not just because people are hanging up or not answering. Predictive dialers alone fail big because 93% of consumers prefer alternative channels such as email and text. ByRead More

Westlake’s Customized Subprime Program Hooked CARite

Westlake’s Customized Subprime Program Hooked CARite

August 15, 2017 at 12:38 pm 0 comments

Westlake Financial Service’s partnership with the online and brick-and-mortar dealership group CARite began with a message on LinkedIn. “We were evaluating which lenders we do business with and where we saw some gaps in terms of who can approve what kinds of deals,” Mike Cavanaugh, chief operating officer for CARite,Read More

Credit Unions Boost Used Financing Marketshare

Credit Unions Boost Used Financing Marketshare

August 15, 2017 at 12:12 pm 0 comments

Credit unions have captured more vehicle financing marketshare over the past several quarters, due in large part to a focus on used-vehicle financing, Melinda Zabritski, Experian’s senior director of automotive finance, told Auto Finance News. “One thing we see with credit unions is a lot of growth in used-car financing, and moreRead More

Average Fico Drops in Nissan’s Latest ABS Issuance

Average Fico Drops in Nissan’s Latest ABS Issuance

August 15, 2017 at 12:03 pm 0 comments

The weighted average Fico score in Nissan Motor Acceptance Corp.’s latest securitization dropped 3 points to 772 — as compared to the captive’s previous transaction — yet still ranks among the highest credit quality of issuances that Moody’s Investors Service has rated, according to the presale report released last week.Read More

Lenders Collaborate to Share Insights in Fraud Consortium

Lenders Collaborate to Share Insights in Fraud Consortium

August 15, 2017 at 9:00 am 0 comments

PointPredictive is actively looking for more financial institutions to join its Automotive Lending Fraud Consortium, which is an industry collective aimed at tackling the problem of auto and powersports fraud through collaboration, Frank McKenna, chief fraud strategist for the solutions provider, told Powersports Finance. Historically high lending volumes are fueling anRead More

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