Inside Vervent’s Tricolor repo challenges
Tricolor backup servicer Vervent faces a robust collections challenge, with potentially thousands of defaulted vehicle loans in the three months ...
Tag: Auto Dealer Activity
Podcast: Dealers grapple with new registration requirements, ATPs riseÂ
New identification requirements for vehicle registrations in Texas have prompted concerns from dealers and lenders about a potential increase in unregistered or uninsured cars on the ...
New Texas ID rule could affect renewals on 500K vehicles, threaten dealer businessÂ
Stricter identification requirements for vehicle registrations and renewals in Texas have prompted a wave of concerns from dealerships along with ...
Former Tricolor CEO Daniel Chu ‘largely responsible’ for Tricolor fraud, trustee says
Former Tricolor Chief Executive Daniel Chu’s motion seeking sole use of Tricolor’s $15 million insurance designed to fund legal defenses ...
KBRA lowers Tricolor auto ABS ratings to default status
Kroll Bond Rating Agency downgraded ratings on dozens of classes of notes across Tricolor Auto’s asset-backed securitization deals after interest ...
America’s Car-Mart consolidates 5 stores, lays off 10% of workforce
Amid a $22.5 million net loss in its fiscal second quarter ending Oct. 31, buy here, pay here dealer America’s ...
Tricolor bondholders seek to subpoena JPMorgan Chase, Fifth Third
A group of Tricolor bondholders has requested to subpoena JPMorgan Chase and Fifth Third Bank to learn whether they had ...
Vervent CEO says Tricolor ‘vaporized’ over a weekend amid sudden collapse Â
Tricolor’s sudden slide into Chapter 7 bankruptcy forced backup servicer Vervent to take on additional operational tasks on top of ...
