Auto Finance News | The News That Drives the Industry - Part 782

FASB extends accounting deadline — for some

Smaller banks and credit unions now have until 2024 to comply with the Financial Accounting Standards Board’s new credit loss accounting rule. The standard, called Current Expected Credit Losses — or CECL, for short — requires lenders to record expected future losses as soon as loans are originated. The board voted yesterday to extend the […]

American Honda Finance leads captives with lowest debt-to-equity ratio

American Honda Finance Corp.’s short-term debt rating was reaffirmed with a stable outlook by Fitch Ratings, thanks to a low corporate leverage ratio and credit losses, which are the lowest among its captive finance peers, Michael Taiano, Fitch senior director of the Financial Institutions Group, told Auto Finance News. “Honda Finance has the lowest debt […]

Thinning margins spur Ford Credit downgrade

Ford Motor Co.'s weakened credit profile will likely have negative implications for its access to funding and financing volumes after a downgrade by Moody’s Investors Service this week. The downgrade moved Ford’s rating to non-investment speculative-grade status.  Moody’s said an upgrade for Ford is “unlikely in the near term,” as margins are expected to remain […]

Westlake to underwrite mortgages for dealerships

Westlake Technology Holdings is establishing itself as a financier for dealerships “on all levels” with a program to provide commercial real estate loans to auto dealers, Group President Ian Anderson announced in a press release this week. The program, called Westlake Capital Finance, is the Los Angeles-based lender’s newest business venture to become a holistic […]

Can Rate Cuts Cure Auto Finance Woes?

The Auto Finance Summit is still going on in Las Vegas, and already the core message of this year’s gathering is clear: auto finance needs capital markets relief. I certainly hope today’s actions by central banks around the world do the trick (although I am not encouraged). Today, the Federal Reserve, European Central Bank, Bank […]

Locator Technologies launches LienDex™

Locator Technologies has just launched a new feature that is affordable and efficient. LienDex™ is a program that will allow you to monitor any vehicle you have leased or financed with ease and affordability. Once you have registered your VINs with us, you can rest easy knowing that your VINs are under the watchful eye […]

Prognosis Poor for the Auto Finance Market

This evening I’ll be kicking off the eighth annual Auto Finance Summit with a presentation on the prospects for the automotive lending and leasing market. My central message: the prospects are not good. Among the points that I will be making are: -Both the overall auto market, as well as auto loan and lease asset […]

A Guide to Using Images on

Every Member of can create a new Group or Event, and we encourage you to do so. When creating a new Group or Event, our site requires that you submit a photo or image to accompany it. A photo or image not only makes your new Group or Event more likely to get noticed, […]

Will 2009 Be The New 2008?

Tucked neatly into a Wall Street Journal article about the approval of $25 billion in low-interest loans for auto manufacturers to help them re-tool their operations to produce more fuel-efficient vehicles was this little nugget: “Detroit’s Big Three, once bullish on a turnaround in the auto sector in 2009, now expect to be another challenging […]

Auto Loan Delinquency Rates Hit All-Time High

Yesterday, the proposed $700 billion federal bailout of the banking industry went down in (possibly temporary) flames. Tomorrow, car manufacturers are expected to report abysmal September sales. The meat in this bad-news sandwich comes courtesy of Fitch Ratings, which noted today that losses on auto-loan securitizations are at an all-time high. Annualized net losses were […]

Bailout Revival Lifts Stocks

Investors remained optimistic this morning that a new bailout package will be presented — and passed — by as early as Thursday. After mixed results from Asian and European markets overnight, the Dow Jones opened 200 points higher, and has remained at that level throughout the morning. While details on Plan B (for Bailout) are […]
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