Southeast Toyota Finance May Tighten Credit

Southeast Toyota Finance, is mulling modest modifications to underwriting and programs this year to reduce risk, said Dan Chait, president of World Omni Financial Corp., which oversees the captive. Lenders across the industry are tightening credit to reduce risk, Chait told Auto Finance News. “We realized this [trend] is just a change in the cycle,” […]
  • Huixin Deng
  • August 11, 2017
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Royal Credit Union Promotes Brandon Riechers to CEO

Royal Credit Union promoted Brandon Riechers to president and chief executive of Royal Credit Union, effective July 31, the company announced on Tuesday. The decision was unanimously approved by the Royal Credit Union board of directors. Randy Beck has been serving as interim president and CEO since April 15, following the departure of Rudy Pereira, according […]
  • Huixin Deng
  • July 27, 2017
  • 0

Prestige Financial Moves Into New Headquarters [SLIDESHOW]

Prestige Financial Services moved into a new 25,000-square-foot headquarters on April 10, in order to house its growing employee base under one roof, Chief Operating Officer Rich Hyde told Auto Finance News. The lender has the capacity to grow to about 900 employees; currently it has 500 employees on-site. The Salt Lake City-based lender’s team was […]
  • Natalie Mattila
  • July 25, 2017
  • 0

Toyota Opens $1 Billion Texas Headquarters

PLANO, Texas — After three years of planning and construction, Toyota Motor North America Inc. celebrated the grand opening of its new centralized headquarters in Plano Texas on Thursday. The new facility, which brings the OEM and Toyota Financial Services closer together, will not only allow its employees to collaborate and communicate more effectively, but also allow the […]
  • Natalie Mattila
  • July 7, 2017
  • 2

Westlake Boosts Dialer Program to Lower Delinquencies

Westlake Financial Services has made some strategic shifts at its collections centers in order to lower delinquencies and losses as well as improve the lender’s relationships with its borrowers, Brian Renfro, senior vice president of servicing, told Auto Finance News. Renfro was hired in March to lead these changes and was able to hit the […]
  • William Hoffman
  • June 21, 2017
  • 2

Speed Leasing Recruits Former Chrome Capital Execs

Speed Leasing LLC, which started originating leases on April 25, built its entire team from former Chrome Capital LLC employees, Partner Hasham Malik told Powersports Finance. Chrome Capital stopped accepting lease applications in September 2016, after a halt in funding from Leucadia National Corp. Since then, Malik has recruited five of Chrome’s former employees for […]
  • Natalie Mattila
  • June 21, 2017
  • 0

McKay to Replace Ellison as Sheffield President

Sheffield Financial, a division of BB&T Corp., tapped Jeff McKay to serve as president, effective April 1, just shy of eight months after announcing Jeff Ellison will take the position.
  • Natalie Mattila
  • March 23, 2017
  • 0

Northpoint Expands Field Sales Team With New Directors

Northpoint Commercial Finance added three directors of business development, in an effort to bolster the existing field sales team and provide enhanced regional coverage to customers, the company announced on Monday.
  • Natalie Mattila
  • February 1, 2017
  • 0

Chrome Capital Has Closed its Doors, For Now

Motorcycle leasing provider Chrome Capital is no longer accepting lease applications as of Sept. 15. However, the company’s closing is not due to subprime risk, but rather a halt in investment funding said Peter Wasmer, the company’s president and chief executive.
  • Natalie Mattila
  • October 3, 2016
  • 0

Two-Time CEO Mark Floyd Departs Exeter Board

Exeter Finance Corp. announced changes to its board of directors yesterday, including Mark Floyd, former board member and two-time chief executive, who will depart the board to join software development company Intellaegis Inc. as its chairman. Additionally, former GE Capital executive Dan Henson will serve as chairman of the Irving, Texas-based lender’s board, replacing former chairman and […]
  • Natalie Mattila
  • September 23, 2016
  • 0
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