Post Tagged with: "Ally Financial Inc."

Ally will offer auto finance and insurance products for peer-to-peer marketplace, TRED. (PRNewsfoto/Ally Financial)

Ally Offers P2P Financing, Insurance Through TRED

May 18, 2017 at 12:20 pm 1 comment

Ally Financial Inc. rolled out financing for peer to peer auto contracts through the TRED platform, and will add vehicle service contracts and guaranteed asset protection (GAP) directly to the online service, the companies announced in a joint press release today. The lender began offering financing in April, and plans toRead More

Ally Counts on Inventory Drop to Reduce Floorplan Balances by Midyear

Ally Counts on Inventory Drop to Reduce Floorplan Balances by Midyear

May 15, 2017 at 10:17 am 1 comment

Ally Financial Inc.’s floorplan outstandings climbed in the first quarter, but are expected to drop by midyear, according to Chief Financial Officer Chris Halmy. The $4 billion increase — to $35.4 billion — was primarily due to higher dealer inventory levels and an increase in higher priced vehicles, such asRead More

Auto Balances Top $1 Trillion Again Despite Slowdown, Top 10 Players Poised for Shakeup

Auto Balances Top $1 Trillion Again Despite Slowdown, Top 10 Players Poised for Shakeup

May 15, 2017 at 10:00 am 0 comments

NEW YORK (May 15, 2017) — The auto finance industry had yet another record-breaking year in 2016, once again surpassing $1 trillion in loan and lease outstandings, according to the annual Big Wheels Auto Finance ranking of car lenders and lessors, which has been published annually since 1999, and wasRead More

Ally’s Clearlane Platform to Add E-Signature

Ally’s Clearlane Platform to Add E-Signature

May 11, 2017 at 12:05 pm 0 comments

Ally Financial’s new online loan origination platform Clearlane will add e-contracting capabilities by July, which will allow consumers to electronically sign and submit financial contracts online, or via a mobile device, the lender announced in a press release today. Clearlane was launched in April after Ally bought BlueYield last year, andRead More

Lenders See Regulatory Stability, CFPB Complaints Show

Lenders See Regulatory Stability, CFPB Complaints Show

May 10, 2017 at 12:51 pm 1 comment

After years of retooling, investing, and stressing over the regulatory environment following passage of the Dodd Frank Act in 2010, an analysis of the Consumer Financial Protection Bureau’s complaint database is showing signs of stabilization. Yes, the overall number of complaints submitted to the bureau has risen — 7,185 last year,Read More

Top Lenders Pull Back Auto Originations Amid High Losses

Top Lenders Pull Back Auto Originations Amid High Losses

May 4, 2017 at 12:53 pm 3 comments

An analysis of first quarter earnings among 11 auto lenders — who together comprise one third of the overall auto finance volume — showed originations have dropped 4%, compared with the same period last year, according to Autonomous Research. The banks include Wells Fargo Dealer Services and JPMorgan Chase, who sawRead More

Syncing Paths: Where Traditional and Online Lending Meet

Syncing Paths: Where Traditional and Online Lending Meet

February 14, 2017 at 12:11 pm 0 comments

Not many companies offer a direct-to consumer product. You wouldn’t go to Crest store to get your toothpaste, a Yoplait store to get your yogurt, and a separate Kleenex store to get your tissues. No, you’d go to a grocery or convenience store and get all of those things inRead More

New ABS Reg Could Stall Issuance Through Yearend, S&P Says

New ABS Reg Could Stall Issuance Through Yearend, S&P Says

November 29, 2016 at 10:36 am 1 comment

A securitization rule implemented this month, which requires auto loan and lease securitizers to provide loan-level data, will likely drag down securitization volume this year, said Amy Martin, senior director of structured finance at S&P Global. “Reg AB II loan-level requirements went into effect, so we think that’s probably going toRead More

Lenders Aim to Curb Rising Losses, Fitch Index Reports

Lenders Aim to Curb Rising Losses, Fitch Index Reports

November 2, 2016 at 8:00 am 0 comments

Auto ABS losses continue a “steady climb,” Fitch Ratings said in its most recent Auto ABS index report released yesterday. Some lenders have tried to curb declining asset performance by improving underwriting Fitch noted, and as a result, a number of auto ABS securitizations came to market last quarter withRead More

Ally Auto Eyes Used Market, President Says

Ally Auto Eyes Used Market, President Says

October 18, 2016 at 11:45 am 0 comments

Ally Financial Inc. is keeping its eye on the used-car market as it enters growth mode, Ally Auto President Tim Russi said. “Historically, if you back up, we did very little used [financing],” he said during a fireside chat at AFS. “We looked at our opportunities, and we wanted to expand our dealerRead More

CFPB’s ‘BISG’ Algorithm Not Designed to Determine Race, Creator Says

CFPB’s ‘BISG’ Algorithm Not Designed to Determine Race, Creator Says

August 30, 2016 at 12:51 pm 1 comment

The controversial algorithm behind the Consumer Financial Protection Bureau’s formula to determine disparate impact was originally created for healthcare research, according to an in-depth article published this week in the Los Angeles Times. The Bayesian Improved Surname Geocoding algorithm, called BISG for short, is a formula that utilizes data fromRead More

Ally Charge-Offs Rise on Sale of Super-Prime Loans

Ally Charge-Offs Rise on Sale of Super-Prime Loans

August 3, 2016 at 10:46 am 0 comments

Ally Financial Inc. sold $1.6 billion of mostly super-prime auto loans in the second quarter, which contributed to a 29 basis-point rise in charge-off rates, an Ally spokeswoman told AFN. Net charge-offs for the quarter rose to 0.94%, from 0.65% in the prior-year period. “The loan sales did contribute to an increase inRead More

Ally Auto Originations Drop 13%

Ally Auto Originations Drop 13%

July 26, 2016 at 12:30 pm 0 comments

Ally Financial Inc.’s auto originations fell 13% to $9.4 billion for the second quarter, versus $10.8 billion at the same time a year prior, according to the bank’s earnings released today. While there are some smaller verticals within the auto industry that could yield further growth, such as commercial services and otherRead More

Ally’s Russi to Participate in Fireside Chat at 2016 Auto Finance Summit

Ally’s Russi to Participate in Fireside Chat at 2016 Auto Finance Summit

July 13, 2016 at 11:40 am 0 comments

Tim Russi, president of Auto Finance at Ally Financial Inc., will sit down for a fireside chat at the 2016 Auto Finance Summit, on October 6 in Las Vegas. At Ally, Russi is responsible for developing the strategy and driving the performance of the auto business.  He has more than 30Read More

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