Post Tagged with: "Ally Financial Inc."

Ally, Santander Hit Hardest From Harvey, Await Irma Reports

Ally, Santander Hit Hardest From Harvey, Await Irma Reports

September 11, 2017 at 12:05 pm 1 comment

As analysts seek to assess auto damages in Florida after Hurricane Irma made landfall over the weekend, damage from Hurricane Harvey is coming into focus. The latest report from Morgan Stanley predicts Ally Financial and Santander Consumer USA could see earnings declines of 12% to 18%, given their high concentrationRead More

Ally, Santander Score Regulatory Wins for Investors

Ally, Santander Score Regulatory Wins for Investors

August 25, 2017 at 12:34 pm 2 comments

Ally Financial Inc. and Santander Consumer USA both scored regulatory wins this week that impact their ability to repay investors, which could be a signal of saturated growth in the auto finance industry. For Ally, the Federal Reserve this week released the bank from a commitment it made in theRead More

Fed Numbers Place Ally as No. 1 Lender Amid Wells Fargo’s Pullback

Fed Numbers Place Ally as No. 1 Lender Amid Wells Fargo’s Pullback

August 24, 2017 at 12:18 pm 2 comments

For three and half years Wells Fargo Dealer Services has been the No. 1 provider of retail loans, but now that title belongs to Ally Financial Inc., according to data from the Federal Reserve. Wells Fargo held about $58 billion of outstanding retail auto loans at the end of June,Read 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

Westlake Emerges as Preferred Subprime Lender for CARite

Westlake Emerges as Preferred Subprime Lender for CARite

August 11, 2017 at 12:15 pm 2 comments

Westlake Financial Services is the new leading provider of subprime and near-prime retail contract loans at CARite dealerships through a strategic partnership announced in a joint press release Thursday. Westlake snagged the preferred subprime lender slot over two larger players in the space. Ally Financial Inc. and Capital One AutoRead More

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Ally’s Originations Decline, but Expects Stabilization in 2018

July 27, 2017 at 12:41 pm 1 comment

  Ally Financial Inc.’s total originations dipped 8.6% in the second quarter, but the lender is expecting some stabilization in early 2018 as the company continues to phase out leases from General Motors Co., according to its second quarter earnings call. Although lease originations rose to $1.1 billion compared withRead More

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 2 comments

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 1 comment

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

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