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Westlake Financial’s ABS volume to top $3b by yearend

MIAMI — Westlake Financial Services is on track to issue $3.4 billion in asset-backed securitizations by the end of the fourth quarter, a 13.3% increase year over year, company Treasury Director Franka Bicolli told Auto Finance News. “Usually we issue the third securitization in August,” Bicolli said. “This year we have increases with different warehouse […]

LIBOR replacement on track for 2021

MIAMI — LIBOR’s replacement is top of mind at this year’s ABS East conference, and the general sentiment among issuers, investors and trustees is that a new overnight funds rate will be solidified by the targeted 2021 release. “[The industry] is getting to a point where people are narrowing down [the details] and [LIBOR’s replacement] […]

Texas bank sues Ford Credit for $25M

Ford Motor Credit has been sued for $25 million by the International Bank of Commerce (IBC) for allegedly failing to notify the bank and other investors that funding was terminated for Reagor-Dykes Auto Group (RDAG) dealerships. Laredo, Texas-based IBC had loaned and refinanced more than $30 million to Reagor-Dykes from August 2017 to February 2018, the […]

How aftermarket products give subprime lenders an edge

Fueled by off-lease volume and consumer demand, used-vehicle sales are nearing record levels. For lenders focused on used vehicles — particularly lenders with subprime practices — these are opportune times. However, lenders need to differentiate their services to scale a profit. By leveraging cloud, auto-decisioning and paperless lending technologies, lenders gain a competitive edge with […]

Aclaró expands into prime auto lending market

Aclaró Inc., the rapidly-evolving artificial intelligence company, has expanded its products and services to the prime auto lending market after successfully launching its disruptive technology in the subprime market. It moves into prime auto loans, permitting a range of lenders, borrowers, and auto dealers to take advantage of industry-leading insights to create better long-term financial […]

State of the subprime auto lending market

Working in the subprime auto lending market, the tendency is to focus on the threats and opportunities that are directly in front of us. We zone in on our specific subprime auto portfolios and do our best to obtain the highest risk-adjusted returns. Ultimately, it is easy to get stuck in the weeds rather than […]

Why low balance letters are not working

Regardless of the industry, there comes a time when certain business practices are followed even though they aren’t the most efficient or most profitable. The legendary Rear Admiral Grace Murray Hopper, a pioneer of computer programming, used to say that the most dangerous phrase in any language is, “We’ve always done it this way.” The auto […]

Aclaró releases EcoSystem 3.0, adds new board member

Aclaró, which provides disruptive technologies to the automotive, financial and government sectors, has released Aclaró EcoSystem 3.0 (ES 3.0), a game-changing toolset for vehicle purchasers, lenders and dealers, and added a new member to its board. With these announcements, the artificial intelligence software company continues the rapid advancement toward its overarching mission of helping lenders, […]

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Tag Archives: investors

Westlake Financial’s ABS volume to top $3b by yearend

LIBOR replacement on track for 2021

Texas bank sues Ford Credit for $25M

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