Risk Management | Auto Finance News - Part 286

BBVA Compass Moves Beyond Sun Belt

BBVA Compass plans to open new loan-production offices this year in cities beyond its existing Sun Belt state footprint. These offices ― not to be confused with the bank’s retail branches ― manage relationships with local automobile dealers. The bank has received approval to open loan-production offices in Los Angeles; San Francisco; Seattle; Nashville, Tenn.; […]

Deadline Nears for Big Wheels Submissions

With the deadline looming, now’s the time to submit 2013 results for inclusion in Big Wheels Auto Finance Data: A Ranking of the Nation’s Top Car Financiers, at submit.bigwheelsdata.com. Big Wheels produces the definitive tabulation of automotive lending and leasing activity in the nation. It offers a unique opportunity to include your company’s performance among […]

Clark Outlines TD’s Growth Strategy: ‘Capability, Scale and Breadth of Relationships’

For Paul Clark, the competitive auto finance landscape offers an opportunity for TD Auto Finance to outshine its rivals. A relative newbie in the sector, TD Auto (www.tdautofinance.com) made its national debut in 2011, when it bought Chrysler Financial. Now, with more than 9,000 dealers, two-thirds of TD’s originations come outside the bank’s main footprint. […]

S&P: Does Automation Hinder Verification?

Subprime loan delinquencies are on the rise, and rating agency Standard & Poor’s warns that automated verifications could send those late rates ― and the resulting losses ― even higher. As of Sept. 30, 2013, the average rate for payments 31-or-more days late at subprime finance companies hit 7.6%, up from 6.2% year over year. […]

CPS Aims for Highest Securitization Rating

Independent auto finance company Consumer Portfolio Services continues to grow its portfolio amid increasing interest from dealers. That was the message from President and CEO Charles Bradley Jr. in the company’s earnings call yesterday, according to a transcript on SeekingAlpha.com. In the past year, CPS’s portfolio shot up 37% to $1.2 billion. And at the […]

Gucwa to Lead Huntington’s Tennessee, Kentucky Expansion

Huntington Bank has named Charles Gucwa regional manager of auto finance operations in Kentucky and Tennessee. Gucwa succeeds Roy Wyant, who retired after 28 years with the bank. Gucwa joined Huntington as auto finance product and strategy manager in late 2012. His replacement hasn’t yet been named, Gucwa told Auto Finance News. Gucwa, who will be […]
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