Investments in Public Auto Finance Companies Top $9 Billion

Institutional investors had combined shares valued at $9.4 billion in the handful of publicly traded auto finance companies, as of midyear, according to an Auto Finance News analysis of Securities and Exchange Commission filings. The SEC filings record the quarterly U.S. equity holdings of institutional investment managers with at least $100 million in equity assets […]

Nicholas Financial Sacrifices Originations for Loan Profitability, CEO Says

Subprime lender Nicholas Financial is valuing “discipline” and “pricing” over volume in an effort to increase profits by utilizing branch offices to enhance relationships with independent dealerships, Chief Executive Doug Marohn told Auto Finance News. “The focus is not on the quantity of business, but rather on the quality and profitability of what we originate,” […]

Nicholas Financial Sacrifices Originations for Loan Profitability, CEO Says

Subprime lender Nicholas Financial is valuing “discipline” and “pricing” over volume in an effort to increase profits by utilizing branch offices to enhance relationships with independent dealerships, Chief Executive Doug Marohn told Auto Finance News. “The focus is not on the quantity of business, but rather on the quality and profitability of what we originate,” […]

Nicholas Financial Shifts Strategy to Focus on Core Nonprime

Nicholas Financial attempted to expand its product offerings and provide lower interest rates, but the company’s fiscal year results released this week show that the strategy has not been working and it has decided to move back to its core subprime base. The lender’s total receivables are down 14.8% to $284.6 million for the year reflecting […]

Nicholas Financial Lowers Originations in Favor of Better Performance

Nicholas Financial Inc. is placing less emphasis on competition and refocusing on purchasing higher-credit quality contracts, reflecting a 23.4% drop in originations, the company announced Wednesday in its earnings report for the three months ended March 31, 2018. As the first full quarter report under new President and Chief Executive Doug Marohn, the lender was […]

Nicholas Financial Gears Up for Return to ‘Disciplined’ Subprime Underwriting

Amid a 41% year-over-year decline in originations during the fourth quarter of 2017, Nicholas Financial hopes to get “back to the basics” and reestablish its presence in the deep-subprime market, new Chief Executive Doug Marohn told Auto Finance News. “Nicholas is a lot of things, and Nicholas has enjoyed a very specific reputation for decades, a positive one,” […]

Nicholas Financial CEO Focuses Underwriting on Small-Dollar, Short-Term Loans

Nicholas Financial Inc. is returning to its core discipline as a subprime auto lender after the appointment of Doug Marohn as president and chief executive. Marohn, who was previously with the company from 1998 to 2011, returned to Nicholas Financial in December 2017 and is working to shift the company’s focus back to being “one […]
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