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Double-pledging of loan collateral is not isolated to subprime lender Tricolor’s alleged fraud. Tricolor was not the first portfolio Vervent serviced with alleged double-pledging issues, nor likely the last, Lou Geibel, executive vice president at the backup servicer, said at the recent Auto Finance Capital Summit in Nashville, Tenn. Vervent is the backup servicer for […]
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Auto lender Arivo Acceptance wanted to develop new software faster, so it enlisted a group mainly comprised of interns with...
Extra-long car loans can lower consumers’ monthly payments, but they also keep dealers from selling vehicles to those customers for...
Alternative asset management firm Bayview Asset Management in the past five years has purchased about $25 billion in auto collateral through bulk...
Luxury vehicle dealerships are fighting a rapidly growing scam in which fraudsters impersonate delivery companies to steal vehicles. Kalamazoo, Mich.-based...
David Thompson
David Thompson
David Thompson
