Huntington Auto Finance | Auto Finance News | Auto Finance News

Dealers Prioritize Lender Communication, J.D. Power Survey Finds

As interest rates rise, dealer satisfaction with their lender partners is increasingly reliant on quick and meaningful communication with credit staff, according to the 2018 J.D. Power Dealer Financing Satisfaction Survey released this week. “Satisfaction declines by 163 points, on a 1,000-point scale, when dealers are not able to reach the credit staff,” Jim Houston, […]

Huntington Sticks With Prime Loans Amid Interest Rate Hike

Despite some lenders expanding credit standards to accommodate riskier loans, Columbus, Ohio-based Huntington Auto Finance is making sure it drives the appropriate yields based on its “buy box,” Richard Porrello, lead of auto finance, told Auto Finance News. Lenders such as Wells Fargo Auto and Santander Consumer USA, meanwhile, have signaled a willingness to move […]

Congress Rolls Back Dodd-Frank Rules, Relieves Banks of Stress Test Requirements

Fewer than 10 banks will be required to submit stringent stress test analysis to federal regulators following Congress’ passage of bipartisan legislation designed to rollback Obama-era financial regulation. The House voted 258-159 to roll back parts of the 2010 Dodd-Frank Act, which will now designate banks with assets above $250 billion as “systemically important financial […]

Huntington Grows Portfolio Amid Super-Prime Push

Huntington Auto Finance managed to grow its portfolio by 8% year over year while originating loans at higher super-prime credit tiers, the bank reported during its first-quarter earnings call last week. The Columbus, Ohio-based bank held auto balances of $12.1 billion during the quarter compared with $11.2 billion the same time the year prior. Huntington’s […]

Huntington Grows RV, Marine Portfolio 32% Following State Expansion

Huntington Bancshares Inc. grew its RV and marine finance portfolio 32% year-over-year to $2.4 billion in 2017, reflecting the expansion of the acquired FirstMerit Corp. business into 17 new states over the past year, the bank reported during fourth-quarter earnings Tuesday. “Note that the fourth quarter is seasonally the weakest for loan production in this […]

Huntington Grows Auto Oustandings 9% in 2017 as Losses Lower

Huntington Auto Finance grew its full-year 2017 outstandings to $11.5 billion — a 9% increase compared to 2016, according to the bank’s fourth-quarter earnings today. Additionally, auto outstandings increased 10% to $11.9 billion in the fourth quarter as compared to the same period a year prior. “[This reflects] continued strength in new and used automobile originations across […]

AFN’s Top 10 Tech Stories of 2017

Fintech earned the attention of the auto industry this year, as captives and lenders aimed for partnerships and the industry as a whole noted the importance of technology in staying competitive. TD Auto Finance, Bank of America Dealer Financial Services, and Huntington Bank all expressed an interest in forming partnerships, while Toyota Financial Services and […]

Stanutz Reflects on 31 Years of Growth at Huntington Amid Retirement

Nick Stanutz counts Huntington Bank’s sixfold growth of its auto portfolio as one of the highlights of his 31-year career with the company. Stanutz, the bank’s senior executive vice president and managing director of auto finance, will retire at yearend. Through September, Huntington had $11.9 billion of auto loans outstanding, up from $10.8 billion in […]
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