First Investors Targets New LOS for 2018 After Delay

First Investors Financial Services will introduce a new loan origination system early next year, after an apparent delay in the system’s implementation, according to a recent presale report from Kroll Bond Rating Agency. The company plans to implement a new loan origination system in January 2018, and the introduction of this system is expected to expedite […]
  • Emma Sandler
  • November 28, 2017

AutoGravity Adds Real-Time Inventory Amid Financing Milestone

On the heels of reaching a milestone $1 billion of requested financing on AutoGravity, the startup is introducing real-time inventory on new and used cars for partnered dealership groups, the company announced in a press release this morning.   Prior to the integration, consumers were only able to browse through catalog models of the brands, […]
  • William Hoffman
  • September 27, 2017

VW Credit Joins AutoGravity Through Equity Investment

VW Credit Inc. has made an equity investment into the online origination portal AutoGravity and is both joining the platform as a captive lender and utilizing the company’s technology to create its own branded online financing mobile app, according to a Wednesday press release. AutoGravity declined to disclose the sum of the investment to Auto […]
  • William Hoffman
  • July 6, 2017

Higher Losses Prompt More ABS Enhancement

LAS VEGAS — Of the nine subprime auto ABS transactions that have gone to market, four have higher levels of credit enhancements, Amy Martin, senior director of structured finance at S&P Global, told AFN. “The issuers with higher credit enhancement  include American Credit Acceptance LLC, First Investors Financial Services, Flagship Credit Acceptance, and Exeter Finance […]
  • Larissa Padden
  • March 7, 2017

Westlake Financial Services Joins AutoGravity

Westlake Financial Services is now a lending partner on the AutoGravity platform, which facilitates loan originations for consumers shopping for a vehicle online, the company’s announced in a press release this morning. AutoGravity expanded to 46 states earlier this year with the promise it could offer consumers up to four financing options, from four different […]
  • William Hoffman
  • February 21, 2017

AutoGravity Expands to 46 States, Partners with Captives

The California-based digital car buying company AutoGravity announced today that it’s now available in 46 states across the country. There are at least four lending partners available in each state where the platform is offered, the company told Auto Finance News. “You can expect multiple captive lenders and we’ll be making announcements about them over […]
  • William Hoffman
  • January 25, 2017

How ‘Furnishers’ Can Avoid Trouble with the Feds

The Consumer Financial Protection Bureau is targeting violations of strict rules for so-called “furnishers,” including auto lenders, plus in many cases their vendors, and potentially some independent dealers and buy-here, pay-here dealers, assuming they all furnish consumers’ nonpublic personal information to credit reporting bureaus.
  • Jim Henry
  • July 23, 2015