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AFS 2019: Internal factors, market competition likely to disrupt lender success in 2020 

LAS VEGAS — Half of the audience at the Auto Finance Summit 2019 identified internal factors and market competition as the top challenges that could impede their company’s success in 2020, according to live poll results revealed during the Summit.  On the heels of the audiences’ response, senior executives from Consumer Portfolio Services, GM Financial, […]

AFS 2019: CPS, GMF, Huntington, Westlake execs expect growth in 2020 despite pressures

LAS VEGAS — Market competition and a potential economic downturn are spurring expectations of slowing originations in 2020, four senior executives from the nation’s largest lenders said during the Auto Finance Summit 2019.  Senior executives from Consumer Portfolio Services, GM Financial, Huntington Auto Finance and Westlake Financial — whose books of business range from $2.5 billion […]

CPS increases capture rates with alternative data

Consumer Portfolio Services is experiencing higher capture rates as a result of a new scorecard that was implemented last year, Senior Vice President of Risk Management Chris Terry told Auto Finance News.  Nine months post-implementation, “CPS is seeing the results without negatively impacting our pricing,” Terry said. The difference between CPS’s new consumer-focused scorecard versus […]

CPS speeds funding with quicker verifications

Consumer Portfolio Services can verify loan information more reliably with the help of an upgraded system, SVP of Sales Curt Powell told Auto Finance News. The original data feed was continually interrupted because it was “not compatible” with the pace and volume of information coming in, Powell said. After moving the feed to more dedicated […]

Citizens One, VW Credit top dealer satisfaction survey

As vehicle sales slow and consumers look to secure financing outside the dealership, lenders’ credit analysts and sales reps are becoming critical elements in a smooth auto finance operation. That’s what the latest J.D. Power 2019 U.S. Dealer Financing Satisfaction Study found based on results from 16,800 retail credit and 2,100 floorplan provider evaluations from […]
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