Post Tagged with: "Capital One Auto Finance"

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Capital One Sees Charge-Offs, Delinquencies Rise in July

August 16, 2017 at 12:35 pm 2 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

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

Capital One to Roll Out New Online Experience [VIDEO]

Capital One to Roll Out New Online Experience [VIDEO]

August 4, 2017 at 10:00 am 0 comments

Capital One Financial Corp. upgraded its web design to offer a more “user-friendly” online experience for borrowers, according to the bank’s YouTube channel. The updated design offers consumers easier access to account services, including auto loan payment history. Consumers can adjust their settings more easily, including language preferences, notifications, and payment methods.Read More

Shift in Charge-Off Timing Leads to Hike in Losses at Capital One

Shift in Charge-Off Timing Leads to Hike in Losses at Capital One

August 2, 2017 at 11:15 am 0 comments

Capital One Financial Corp.’s auto charge-off rate rose 42 basis points year over year — to 1.25% — in the second quarter due to an accelerated policy for charging off bankrupt accounts, Chief Executive Richard Fairbank said on an earnings call. In the fourth quarter of 2016, Capital One adjustedRead More

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Capital One Expects $30 Million Increase in Charge-Offs

April 28, 2017 at 10:30 am 3 comments

Capital One Financial Corp. is expecting a $30 million, “one-time increase” in losses, due to an accelerated policy for charging off bankrupt accounts, Chief Financial Officer Scott Blackley said Wednesday on the bank’s first-quarter earnings call. Capital One announced in the fourth quarter of 2016 that it would adjust charge-off timing. Now, Capital OneRead More

Chase Ties Ally as Top Bank Auto Lender

Chase Ties Ally as Top Bank Auto Lender

March 3, 2017 at 12:37 pm 0 comments

Among bank auto lenders, Chase Auto Finance has tied Ally Financial as the top lender in the space for the first time since Ally became a bank holding company in 2008, according to full year earnings reports from the companies, compiled by Nasdaq. Both banks virtually tied for total originationsRead More

What a Ride! Four Takeaways from 2016

What a Ride! Four Takeaways from 2016

December 28, 2016 at 10:00 am 0 comments

The year of 2016 was a year of many things. It was a year in which the industry made a bid to marry auto lending and fintech. For example, Chase Auto Finance debuted a digital car-buying service, while Lending Club launched an auto refinance product. It was a year thatRead More

Quarterly Earnings Show Signs of Tightening

Quarterly Earnings Show Signs of Tightening

November 11, 2016 at 11:30 am 0 comments

Credit restrictions and underwriting practices show signs of tightening this month after lenders outlined adjustments to their portfolios based on expected normalization in the market, during third-quarter earnings calls. There are also other signs, though, pointing to the possibility of a downturn in the market. A downturn in the market couldRead More

Capital One CEO: Post-Recession Auto Volume Not Likely to Occur ‘Again In Our Lifetime’

Capital One CEO: Post-Recession Auto Volume Not Likely to Occur ‘Again In Our Lifetime’

October 31, 2016 at 11:00 am 1 comment

Rising credit losses and “rapid normalization” in Capital One Auto Finance Inc.’s portfolio has caused the company to be “very vigilant” with its underwriting practices, Chief Executive Richard Fairbank said during the bank’s earnings call Tuesday. “The auto business, after the Great Recession, was something that I don’t think we’llRead More

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