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AFS 2019: Internal factors, market competition likely to disrupt lender success in 2020 

LAS VEGAS — Half of the audience at the Auto Finance Summit 2019 identified internal factors and market competition as the top challenges that could impede their company’s success in 2020, according to live poll results revealed during the Summit.  On the heels of the audiences’ response, senior executives from Consumer Portfolio Services, GM Financial, […]

AFS 2019: CPS, GMF, Huntington, Westlake execs expect growth in 2020 despite pressures

LAS VEGAS — Market competition and a potential economic downturn are spurring expectations of slowing originations in 2020, four senior executives from the nation’s largest lenders said during the Auto Finance Summit 2019.  Senior executives from Consumer Portfolio Services, GM Financial, Huntington Auto Finance and Westlake Financial — whose books of business range from $2.5 billion […]

Vote for AFN’s inaugural Executive of the Year

As yearend approaches, we at Auto Finance News are reaching out to readers to vote for the inaugural Auto Finance Executive of the Year award, celebrating the highest achievement in the auto finance industry. The 2019 Auto Finance Executive of the Year will be named and profiled on the cover of the December issue of Auto […]

Westlake pushes third-party servicing with two-prong strategy

Following its acquisition of SNAAC’s portfolio, Westlake Financial plans to be even more aggressive in the third-party servicing space heading into 2020, Todd Laruffa, vice president of Westlake Advanced Lending and Portfolio Services (ALPS), told Auto Finance News. In addition to servicing portfolios for companies that are exiting the business, Westlake is targeting companies entering […]

Westlake to underwrite mortgages for dealerships

Westlake Technology Holdings is establishing itself as a financier for dealerships “on all levels” with a program to provide commercial real estate loans to auto dealers, Group President Ian Anderson announced in a press release this week. The program, called Westlake Capital Finance, is the Los Angeles-based lender’s newest business venture to become a holistic […]

Fraud Origination Risk to Hit $7B by Year-end

The risk of fraud for auto lenders has increased 5% year over year, according to new data shared with Auto Finance News by PointPredictive’s chief fraud strategist Frank McKenna. By year-end 2019, fraud origination risk is expected to reach $7 billion. Fraud in the auto lending industry is evident. In fact, discussions between lenders at […]
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