Post Tagged with: "Ally Financial Inc."

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 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 4 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

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