Credit Acceptance Corp.’s originations decreased in the third quarter as the subprime lender faces increased competition and worse-than-expected loan performance. Southfield, Mich.-based CAC’s consumer loan assignments declined 16.5% year over year to 79,916 units and were down 19.4% on a dollar basis, according to the lender’s Oct. 30 earnings release. CAC’s adjusted portfolio rose 2.1% […]
Already subscribed? Log in
