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Nicholas Financial to Improve Underwriting Amid Earnings Drop

Subprime lender Nicholas Financial Inc. suffered losses in 2018 as a result of legacy portfolios with “difficult pools in terms of underwriting quality” from purchases made in previous years, Chief Executive Doug Marohn said in an earnings statement earlier this month. Clearwater, Fla.-based Nicholas lost $900,000 for the quarter ended Dec. 31, 2018, and originations […]

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 […]
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