Risk | Auto Finance News - Part 7

Trump Car Tariffs Would Hurt Global Growth, EU’s Malmstrom Warns

U.S. tariffs on car imports would deal a blow to the global economy and Europe will retaliate if they’re imposed, European Trade Commissioner Cecilia Malmstrom said. “It would be very harmful for our economy, it would be harmful for the global economy, and it would be harmful for the U.S. economy, because many cars are […]
  • Bloomberg News
  • March 8, 2019
  • Risk

California Subprime Lender Settles DOJ Investigation Over Unlawful Auto Repossessions

A California-based auto lender has agreed to pay the Department of Justice $80,000 following allegations that the lender violated the Servicemembers Civil Relief Act, a law designed by the DOJ to ease financial burdens on servicemembers during periods of active military service. California Auto Finance, based in Orange County, Calif., allegedly repossessed vehicles of two […]

Regions Bank to Exit Indirect Lending Space [FULL DETAILS]

Regions Bank has set the wheels in motion to shutter its indirect auto lending business, Auto Finance News has learned. The Birmingham, Ala.-based bank will continue to originate direct auto loans. “We informed the dealers and sent out a notice to them on Jan. 14,” Tom Lazenby, senior vice president and line of business executive […]

Regions Bank to Exit Indirect Lending Space

Regions Bank has set the wheels in motion to shutter its indirect auto lending business, Auto Finance News has learned. The Birmingham, Ala.-based bank will continue to originate direct auto loans. “We informed the dealers and sent out a notice to them on Jan. 14,” Tom Lazenby, senior vice president and line of business executive […]

Borrowers Granted Extensions Four Times More Likely to Repay Loans, KBRA Finds

Despite Honor Finance’s previous unorthodox loan extension practices, new research by Kroll Bond Rating Agency maintains that loan extensions remain a viable loss-mitigation tool for securitization servicers. "In moderation, extensions are a very useful tool — they maximize cash flow to the ABS trust," Brian Ford, senior director of structured finance research at KBRA, told Auto […]

Regulation Lags Behind Alt-Data Usage

LAS VEGAS – Lenders that use alternative data for underwriting should tread carefully until regulation has a chance to catch up, said executives at a securitization conference yesterday. “We want to support business and don’t want to stifle innovation, but we have to move in a measured way,” Rostin Behnam, commissioner of the Commodity Futures […]

Seasoned Loans Outperform Unseasoned Loans in Subprime Securitizations — Eventually

Fresh research from Kroll Bond Rating Agency shows that, contrary to popular belief, seasoning may not be the most accurate indicator of a subprime loan’s performance. Data from KBRA’s Subprime Auto Loan ABS report published Thursday illustrates that "very seasoned" subprime loans — those with 48 months of payment history — exhibited higher net losses […]
Page 7 of 100« First...56789 102030...Last »