Post Tagged with: "Chase Auto Finance"

Chase Avoids Down-Cycle Pressures by Sticking to Credit Strategy

Chase Avoids Down-Cycle Pressures by Sticking to Credit Strategy

June 9, 2017 at 10:00 am 1 comment

Chase Auto Finance is sticking to its strategy and trusting that normalization will run its course, despite the fact that off-lease volume and its effect on used-car values is a stress point, Head of Retail Lending Bruce Jackson told Auto Finance News. “Used-car prices coming down is really good newsRead More

Bill Jensen Comes Out of Retirement to Join Westlake

Bill Jensen Comes Out of Retirement to Join Westlake

May 18, 2017 at 12:00 pm 0 comments

Westlake Financial Services has hired former Chase Auto Finance executive Bill Jensen to develop the lender’s strategic accounts division, the company announced in a press release yesterday. Jensen’s new duties will include analysis of all strategic account relationships to maximize business for dealerships and Westlake, the release stated. “Bill brings overRead 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

Chase Auto Originates $8 Billion in First Quarter

Chase Auto Originates $8 Billion in First Quarter

April 13, 2017 at 12:06 pm 1 comment

Chase Auto Finance’s first-quarter originations were down 16.6% year over year to $8 billion in loans and leases, the company announced today. The dip in origination is a reflection of record high auto sales in 2016, according to the company. The auto delinquency rate 30-plus days past due — at 0.93%Read More

Bank of America Competes With Chase Auto for Online Direct Space

Bank of America Competes With Chase Auto for Online Direct Space

April 11, 2017 at 10:27 am 0 comments

Bank of America recognizes that it’s not the first to offer a direct auto lending portal for consumers via an app and website — the bank launched a new pilot program last week — but David Doyle, the company’s consumer bank product and pricing executive, said the lack of a third partyRead 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

Watch How Chase Originates Auto Loans Online [Video]

Watch How Chase Originates Auto Loans Online [Video]

March 1, 2017 at 11:30 am 0 comments

With so many apps and online portals for financing vehicles in the marketplace, it can be hard to know what distinguishes them all and how they even work — without actually buying a car or hurting your credit score. Chase Auto Finance wants to help consumers understand its latest platformRead More

Chase 4Q16 Auto Originations Drop 14% YoY

Chase 4Q16 Auto Originations Drop 14% YoY

January 13, 2017 at 11:40 am 1 comment

Chase Auto Finance ended 2016 on a decline – as far as auto originations went. The company originated $8 billion in auto loans and leases in 4Q16, compared with $9.3 billion in the previous quarter, and down from $9.2 billion at the same time a year prior – a 13%Read 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

Chase Auto Finance Names O’Donovan as New CEO

Chase Auto Finance Names O’Donovan as New CEO

November 17, 2016 at 3:49 pm 0 comments

JPMorgan Chase & Co. named Mark O’Donovan — a 20-year Chase veteran — as chief executive of auto finance, effective immediately, according to an internal memo shared with Auto Finance News today. He succeeds Thasunda Duckett who became CEO of consumer banking in September. O’Donovan will join the Chase consumerRead 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

Chase Auto 3Q Originations Grow 14% YoY

Chase Auto 3Q Originations Grow 14% YoY

October 14, 2016 at 11:46 am 2 comments

Chase Auto Finance originated $9.3 billion of auto loans and leases in the third quarter, up from $8.5 billion in 2Q, and up from $8.1 billion at the same time a year prior, the company announced today. The 30+ day delinquency rate for auto was at 1.08% in the thirdRead More

Chase’s Thasunda Duckett Promoted to CEO of Consumer Banking

Chase’s Thasunda Duckett Promoted to CEO of Consumer Banking

September 28, 2016 at 11:34 am 0 comments

Thasunda Duckett will move on from her position as CEO of JPMorgan Chase & Co’s auto finance arm in order to lead as CEO of the bank’s biggest business — consumer banking — according to memos from the company. Gordon Smith, CEO of consumer and community banking, will take onRead More

Chase Auto Pulls Back on Longer-Term Loans

Chase Auto Pulls Back on Longer-Term Loans

September 20, 2016 at 12:00 pm 1 comment

Chase Auto Finance has decreased the volume of 84-month auto loans it originates across all Fico bands, and continues to pull back on subprime, Gordon Smith, chief executive of JPMorgan Chase & Co. Consumer & Community Banking unit, said Monday during the 2016 Barclays Global Financial Services conference. “Nothing in the dataRead More

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