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Global Lending Services bets long-term success on direct business

Global Lending Services is in the midst of establishing a direct lending business, a move Chief Executive Steve Thibodeau calls “the next gear of [the company’s] growth engine.” While the Atlanta-based auto lender is keeping short-term aspirations in check — Thibodeau said he does not see the direct business as a significant driver of volume […]

GM Financial, Hyundai ramp up lease ABS with $1.9B of issuance

General Motors Financial and Hyundai Capital America are driving auto lease ABS volume, bringing a combined $1.9 billion of receivables to market, according to presale reports from S&P Global Ratings.  GMF’s $1 billion deal marks the captive’s third lease securitization this year, boosting its total volume to $3.4 billion in 2019. The collateral pool consists […]

Global Lending Services aims for 14K dealers

On the heels of establishing a direct-to-consumer business, Global Lending Services continues to build the indirect side of the business. The subprime lender has been signing on nearly 200 new franchise dealers each month as it aims for the 14,000-dealer mark, Chief Executive Steve Thibodeau told Auto Finance News. So far, GLS has signed on […]

FBI uncovers 5-year dealer fraud scheme

The Federal Bureau of Investigation has uncovered a fraud scheme perpetrated by a Charleston, S.C.-based dealership, Hoover Mitsubishi, spanning nearly five years, according to an affidavit filed with the U.S. District Court for the District of South Carolina. The affidavit implicates the dealership’s general manager, finance manager, and owner, along with a former general sales […]

Global Lending Services to Venture Into Direct Lending

Global Lending Services is looking to build out a direct-to-consumer business, Auto Finance News has learned. "We are beginning to explore direct-to-consumer opportunities in the areas of direct-to-indirect, direct purchase, and refinance," Chief Executive Steve Thibodeau wrote to AFN in an email. "We will be exploring opportunities to partner with other lenders and players in the […]
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