All Posts | Auto Finance News - Part 3

Bart Reagor fights back against Ford Credit

Bart Reagor, former co-owner of Reagor-Dykes Auto Group, is fighting back against Ford Credit Co. in the court of public opinion, which has resulted in a delay of a final judgment, Wayne Dolcefino, founder of Dolcefino Consulting, told Auto Finance News. The case — which has been postponed until Oct. 7 — will move to […]
  • Joey Pizzolato
  • July 12, 2019
  • Risk

Lenders likely to withstand threat of aging vehicles, analysts say

The average vehicle age in the U.S. continues to climb, yet lenders have little to worry about, analysts said. The average age of light vehicles in operation has risen to 11.8 years, thanks to better technology and overall vehicle quality improvements, Mark Seng, director of IHS Markit‘s global automotive aftermarket practice, said in a press […]

Auto ABS heats up with $4.7B of issuance

A handful of prime and subprime securitizers pumped up ABS volume this week, bringing $4.7 billion of loans and leases to market, according to presale reports from S&P Global Ratings.  Auto ABS volume totaled $61.3 billion as of July 8, up 12.7% year over year, according to data from JPMorgan Securities. On the prime side, […]

Credit Acceptance stock closes in on $500 per share

In Credit Acceptance Corp.’s first day of trading on June 5, 1992, the stock closed at $2.71 per share. Fast forward 17 years, and the subprime lender’s stock price is nearing the $500-per-share mark. In its first decade of trading, CAC’s stock averaged $11.43 per share. It crossed the $20 mark in 1995 and the […]

Fraud analytics, alt-data reduce risk for nonprime lenders

The ability to identify risk as early as possible in the loan origination process can improve portfolio performance, and lenders focused on nonprime segments have better resources than ever before to reduce loan risk. Early identification of high-risk borrowers can reduce or potentially eliminate defaults. Fraud analytics and alternative credit data — which provides a […]

CPS ramps up direct lending, eyes title loan venture

In an effort to get ahead of increased competition stemming from a potential economic slowdown, Consumer Portfolio Services is diversifying its business, Chief Financial Officer Jeffrey Fritz said. Specifically, CPS is increasing its direct lending volume and is developing a title lending business. CPS originated $8.2 million of direct loans in the first quarter. At […]

Moody’s to establish standard for quantifying cyber risk

Moody’s Corp. is working to establish a global standard for quantifying and assessing cyber risk for financial institutions. Through a joint venture with think-tank Team8, Moody’s will develop technology tools and methods to measure and analyze cyber risks facing lenders. Derek Vadala, global head of cyber risk for Moody’s, was named chief executive of the […]
  • Nicole Casperson
  • July 10, 2019
  • Risk

Chase Auto CEO Mark O’Donovan joins AFS for key session on the industry’s future

Auto Finance News is excited to host Mark O’Donovan, chief executive of Chase Auto, at this year’s Auto Finance Summit for a fireside chat on Tuesday, Oct. 28, at 9:15 a.m. PT. The 19th annual Auto Finance Summit will take place Oct. 28-30 at the Bellagio Las Vegas. Click here for the full agenda.  The […]
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