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Avid Acceptance Scores $50M Credit Facility

Avid Acceptance LLC has finalized an asset-backed warehouse facility with Capital One — its second such facility in four months — adding $50 million of liquidity, Chief Financial Officer Curtis Ash told Auto Finance News. The new Capital One credit facility, combined with a JPMorgan Chase facility established in November 2018, furthers the Salt Lake […]

Capital One Auto Originations Decelerate Amid Increased Competition

Capital One Financial Corp.’s auto origination volume fell 5% last year, according to a fourth-quarter earnings report. In an earnings call, Chief Executive Richard Fairbank attributed the deceleration to an increase of competitive intensity in the auto industry. Auto originations fell to $26.2 billion in 2018, compared with $27.7 billion in 2017. Despite Capital One’s […]

Regional Acceptance Joins List of Lenders Utilizing Third-Party Title Transfer System

Regional Acceptance Corp. (RAC), a subsidiary of BB&T Corp. specializing in the subprime space, is the most recent lender to outsource their title transfer process to Dealertrack Accelerated Title, the companies announced this week. “We have several lenders on the product right now and several that have signed up that we are in the process […]
  • Nicole Casperson
  • September 14, 2018
  • Strategy