Massachusetts AG probe signals heightened scrutiny of subprime sector
Increasing vehicle prices have long spurred car buyers to hunt for affordable monthly payments, but now that ability to repay ...
Tag: Credit Acceptance Corp.
CAC deferral rates better than pre-pandemic levels, CEO says
Credit Acceptance Corp.’s forbearance and deferral rates have dropped to below pre-pandemic levels after improving “pretty dramatically in May” and ...
How subprime lenders face the coronavirus economy
What a difference a few months make. Last year, subprime lenders outpaced banks, captives and credit unions at a rate ...
Credit Acceptance delays quarterly SEC filing due to COVID-19
Credit Acceptance Corp. has suspended its first-quarter earnings report due to the “adverse impact” the COVID-19 crisis has had on ...
Subprime stocks drop $7B in market cap since March
The auto finance sector has been pressured from all sides since COVID-19 took root in the U.S. With vehicle production ...
Ford, Toyota, Cap One inject $4.6B into ABS market
Auto asset-backed securities volume is growing this year, with volumes outpacing last February’s levels to reach $22 billion, a near ...
Auto ABS roundup: Ford Credit, Cap One, Santander, and more
Auto lenders brought more than $6.4 billion in asset-backed securities to market this week, in transactions backed by prime and ...
Credit Acceptance sees ‘fall off’ in new dealer volume
New dealer enrollment at Credit Acceptance Corp. has experienced a “fall off” in the fourth quarter, Chief Executive Brett Roberts ...
