Extended-Term Contracts Lower Credit Quality in Bank of the West Securitization

Extended-term contracts, an increased loan-to-value ratio, and a rise in the number of loans with lower Fico scores are responsible for weakened credit quality in Bank of the West’s $764 million auto trust securitization — the bank’s first of the year — according to a Fitch Ratings’ presale report. The average term of loans securitized […]

• Joey Pizzolato
• June 17, 2019
• Capital Markets

Lengthening Loan Terms a Concern for ‘Healthy’ Subprime ABS Market

PLANO, Texas — The growing popularity of loan terms over 60 months is a concern for the subprime auto securitization market, Amy Martin, senior director of structured finance at S&P Global Ratings, said at the Nonprime Auto Finance Conference last week. “We’re concerned about the lengthening of loan terms because that could lead to a […]

• Joey Pizzolato
• June 10, 2019
• Capital Markets, Risk Management

3 Themes to Watch in April

Last month, compliance and operations stories dominated the ranks as Auto Finance News’ most-read March stories. Below are AFN's top three themes to monitor, as determined by the six most-read stories in March. TCPA Settlements As the auto regulatory environment continues to heat up with stiffer oversight on both state and federal levels, TCPA settlements […]

• Bianca Chan
• April 1, 2019
• Capital Markets, Compliance & Regulation, Innovation & Technology, Risk Management, Sales & Marketing

Retouching Operations: Bank of the West Adds to Its Financing Palette

From the March issue: Despite a recent industrywide rise in auto loan delinquencies, one legacy prime lender is expanding its product set to satisfy dealer partners. “We needed to reinvent our business model,” Bank of the West Executive Vice President of Personal Finance Michael Pereira told Auto Finance News. “Bank of the West has a […]

• Bianca Chan
• March 15, 2019
• Features, Innovation & Technology, Risk Management, Sales & Marketing

Bank of the West Harnesses Robotics, Automation for Swift Turnaround

Bank of the West is betting on automation and robotics to boost approval rates and to trim turnaround time, Executive Vice President and Head of Personal Finance Michael Pereira told AFN. The goal, Pereira said, is to have automated offers on 90% of the applications coming in, giving the bank the ability to respond more […]

• Bianca Chan
• March 5, 2019
• Innovation & Technology, Risk Management, Update

Bank of the West Seeks to Build Out Floorplan Portfolio

Boosting floorplan financing volume is top of mind for Bank of the West, Michael Pereira, the bank’s executive vice president and head of personal finance, told Auto Finance News. “The flooring is very much integrated within our [retail] program,” Pereira said, adding that the lender is making strides to better connect with and service dealer […]

• Bianca Chan
• February 27, 2019
• Risk Management, Sales & Marketing

Bank of the West to Launch Dealer Portal by Yearend

San Francisco-based Bank of the West is making investments to strengthen dealer relationships. At the top of the priority list is a dealer portal, slated for release by yearend. “We continue to invest in the dealer interface,” Executive Vice President of Personal Finance Michael Pereira told AFN. “We need to be engaging with our dealers […]

• Bianca Chan
• February 21, 2019
• Innovation & Technology, Risk Management

Auto Volume Slows as Lenders Pull Back, New Big Wheels Report Shows

Although loan volume has increased at a 40% pace since 2013 for the nation’s 10 largest lenders, the rate of growth is slowing as some lenders pull back, according to the newly released Big Wheels Auto Finance Data 2018. Big Wheels is produced by Auto Finance News and ranks the top 100 auto financiers by […]

• William Hoffman
• May 16, 2018
• Archives, Credit Performance