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 […]

TCF Turns to E-Contracting to Speed Decisioning

TCF Bank is looking to expand its e-contracting solution with other application portal vendors — such as DealerTrack — in 2018, Todd Pierson, president of the bank’s auto lending arm Gateway One, told Auto Finance News. Currently, TCF is live with a pilot through RouteOne to bring e-contracting to participating dealers. “That [expanding e-contracting] will improve the relationship with our customer […]

Westlake Sees ‘Quick’ Dealer Adoption of E-Contracting, Exec Says

Westlake Financial Services saw “very quick” dealer adoption of its e-contracting solution, which the lender first rolled out in January to five states, and which has since grown to 22 states, Casey Harmon the company’s senior vice president of corporate development, told Auto Finance News. E-contracting is now used on 60% of the contracts coming through […]
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