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Franchise Dealer Originations Inch Higher in Westlake’s Latest Securitization

The ratio of franchise dealer originations in Westlake Financial Services's securitizations is on an upward trajectory, according to a recent DBRS presale report.  In Westlake's most recent securitization, an $800 million transaction slated to close Feb. 20, franchise dealer originations account for 38% of the pool. By comparison, franchise originations hovered at 30% in the […]

LOS Provider Launcher Solutions Adds Alt Data From LexisNexis

Technology startup Launcher Solutions inked a deal last week to integrate alternative data from LexisNexis Risk Solutions into its loan-origination system geared for subprime lenders. Alternative data plays a significant role in auto loan underwriting, especially in the subprime sector where credit bureau profiles may be thin, Launcher Solutions President Nikh Nath told Auto Finance […]

Avid Acceptance to Double Securitization Volume on Heels of JPMorgan Chase Funding Facility

Avid Acceptance LLC’s new warehouse facility will put the lender on track to double its securitization volume next year, Chief Financial Officer Curtis Ash told Auto Finance News. The $50 million funding facility from JPMorgan Chase “will allow [Avid] a larger securitization in 2019,” Ash said, likely in the third or fourth quarter. The warehouse […]

Subprime Loan Origination System Integrates With RouteOne

Launcher.Solutions (Launcher), a loan origination system service provider for subprime auto lenders, and RouteOne, a dealership F&I software company, are teaming up with a strategic integration that will expand subprime lenders’ access to dealerships. The loan origination system is meant for the subprime and nonprime automotive industry with the goal of increasing lender’s productivity in a system […]

Toyota Financial Tests At-Home E-Contracting in Pilot

Toyota Financial Services is running a pilot in which consumers can electronically sign all financial and ancillary product documentation before going into the dealership to pick up their vehicle, according to the technology provider RouteOne. The pilot is currently active at just one Toyota dealership, as well as across the company’s employee-leasing program, according to […]

RouteOne Debuts Online Contracting, Processes First Deal With Toyota

The dealership F&I software company RouteOne LLC says it has processed the industry’s first remotely executed auto finance contract via a deal through Toyota Financial Services. The “remote eSign technology” allows dealers to send a contract package electronically to the borrower so they can sign all credit application and ancillary product documentation at home, according […]

General Motors to Implement All-In-One F&I Platform

General Motors’ Protection coverage group, Chevrolet-Buick-GMC and Cadillac (CBGC) Protection, is currently rolling out a new F&I platform across its dealer network that will soon merge its e-contracting solution at GM Financial into one unified system, reducing dealership wait times, and educating consumers through interactive video elements. MaximTrak, which was acquired by RouteOne Holdings in […]
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