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Despite Little Guidance, Lenders Monitor Ancillary Sales

Lenders are aware that increased regulatory scrutiny of ancillary products, such as GAP insurance, is coming down the pipeline, but there’s little consensus among the Consumer Bankers Association’s Auto Finance Committee as to what aspect of these after-sale products should be monitored, said Robert Griffin, indirect lending manager at Commerce Bank. “There wasn’t a guidance […]

Commerce Bank Entices Borrowers to Shorten Terms

DALLAS — Commerce Bank isn’t pulling back on its longest loan-term offering of 75 months, but it is “encouraging” deals at 60- and 48-month terms, as part of a larger effort to tighten overall credit requirements, said Robert Griffin, the company’s indirect lending manager. To accomplish this, Commerce Bank is incentivizing consumers with lower interest […]

Commerce Bank Watchful of Delinquencies, Tightens Credit

DALLAS — Auto delinquencies are rising across the industry, but the increase has been most prominent in subprime segments. Although Commerce Bank mainly extends auto loans in the prime spectrum, it’s still keeping a watchful eye, said Robert Griffin, the bank’s indirect lending manager. “It’s easy to say ‘that’s subprime, it’s not us,’ but when you […]

Commerce Bank Sees Off-Road as Growth Opportunity, Exec Says

Commerce Bank sees off-road vehicle financing as a potential new market venture as it continues to expand motorcycle loan volume, said Indirect Lending Manager Rob Griffin. However, adding off-road vehicles into its portfolio is not included in the bank’s three-year plan, he told Powersports Finance.
  • Natalie Mattila
  • November 11, 2016
  • Archives

Commerce Bank Sells Prime Loans, Offsets Lower Loan Volume

Commerce Bank sold two pools of prime and super-prime auto loans — one in June and the second in September — in an effort to “control” new loan origination growth, after the bank’s intentional pullback in auto, Indirect Lending Manager Robert Griffin told Auto Finance News. In March, Commerce Bank set aside $50.4 million of […]

Commerce Bancshares Says Auto Stays Strong

Commerce Bancshares Inc. reported an increase in total outstanding loans for the second quarter. Helped by auto, total outstandings increased to $11.5 billion, from $11.2 billion in the previous quarter. Commerce Bancshares said demand for consumer automobile loans remained strong this quarter, growing by $59.8 million. However, the bank recorded $17 million of runoffs in […]