Archives | Auto Finance News - Part 5

Recreating Chrysler Capital

Nearly 10 years after Chrysler LLC came to the government seeking a $12.5 billion bailout in the midst of the financial crisis, and eight years after Cerberus Capital Management sold Chrysler Financial to TD Bank, the OEM may finally get back its captive finance arm, the company announced in late May. A lot has changed […]

How a Digital Lending Process Can Benefit Finance Companies

If lenders haven’t updated their legacy lending system in a while, they’re in the right place. A digital lending process takes advantage of technical innovations, including cloud, decision rules, imaging, mobile, and analytics. The result is a significantly greater degree of automation. Automation means lower processing costs, better-quality lending decisions, reduced risk, and improved compliance. Digital […]

Portfolio Purchaser Creates University Lab to Analyze BHPH Data

Flock Specialty Finance, which typically helps clients purchase charged-off debt portfolios, has turned to academia to help produce alternative lending data for the buy-here-pay-here space, the company announced earlier this month. Led by Associate Dean and Director of the Analytics and Data Science Institute Dr. Jennifer Priestley, Kennesaw State University in Georgia will host the […]

Honor Finance’s ABS Downgrade Seems to Signal Market Contraction

Subprime auto lender Honor Finance’s 2016 ABS issuance is the first post-crisis downgrade — an indication that the industry’s contraction period is coming sooner than expected, Joe Cioffi, chair of the insolvency, creditors’ rights, and financial products practice group at Davis & Gilbert, told Auto Finance News today. “[The downgrade] is a reminder that ratings are […]

4 Hiring Tips to Growing an Auto Loan Portfolio

Good hiring decisions are critical to running a successful business for any lender. But there are some hidden factors that many hiring managers fail to consider. Are they doing everything to make a good match? Or are they simply hiring people that seem to be a fit? These four tips will ensure you are recruiting […]

Ally’s Portfolio Grows Amid Decline in Losses

Ally Financial’s net charge-off rate decreased by the largest margin since the company’s IPO in 2014 while the bank’s auto originations grew by double digits, the company stated in its 2Q18 earnings report. The net charge-off rate for the second quarter was 1.04% of the total portfolio, down 16 basis points compared to the same time the […]

Check Your Messages: How The TCPA Is Changing for Lenders

Calling on the phone is one of the simplest ways to reach people, but for lenders and other financial companies, it can be more confusing and complicated than one might expect. Collection departments that need to reach customers to discuss payment status or account issues are governed by the Telephone Consumer Protection Act. Following a […]
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