Troubled Waters: Hurricanes Strain Vehicle Inventory, Boost Used Values

In the wake of the recent hurricanes — Harvey in Texas and Irma in Florida — the industry is beginning to recover, with an uptick in sales and a boost in used-car values on the horizon. “On the volume impact, we expect Harvey and Irma to [negatively] impact volume in September by less than 10%,” […]
  • Natalie Mattila
  • October 23, 2017

Why Lenders Should Use Big Data in Decisioning Process

Credit scores have always been an important criterion in a lender’s decisioning process. However, this trend may alter as non-traditional data has increasingly attracted attention in the auto lending industry. Lenders who exclusively use traditional credit bureau scores are “missing a wealth of information that could have a huge impact on underwriting or lending decisions,” […]
  • Huixin Deng
  • September 20, 2017

Used Cars, Incentives Propel Originations at Southeast Toyota Finance

Southeast Toyota Finance saw a 5% year-over-year rise in total originations in the second quarter, thanks to “attractive incentives” and increasing consumer demand, said Dan Chait, president of World Omni Financial Corp., which oversees the captive. “Additionally, we’ve seen growth in used-retail financing as a result of certain program enhancements, and we have captured some […]
  • Huixin Deng
  • August 23, 2017

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

World Omni Makes Series of Executive Changes

JM Family Enterprises has announced a series of senior-level executive changes over the course of two months. Among the appointments include Stephan Artusi, who was promoted to group vice president and general counsel at the company at the end of July. In Artusi’s new position, he will oversee all of the company’s legal departments. Taking over […]
  • Huixin Deng
  • August 3, 2017

World Omni Seeks Talent For A.I. Advances

World Omni Financial Corp. is partnering with universities in Florida and utilizing Ph.D. candidates as part of its overal l focus on data integration and utilizing analytics, said Alfredo Cateriano, vice president of risk management, data, and analytics. “We’re partnering with scientists, statisticians, econometricians, and operations research,” he told AFN. “But also, we are really […]
  • Larissa Padden
  • May 9, 2017

World Omni to Make Big Push on Tech, Analytics in 2017

The auto finance market is moving faster than expected for World Omni Financial Corp., which is why the lender is focusing much of its efforts in 2017 on data integration and utilizing analytics, said Alfredo Cateriano, vice president of risk management, data, and analytics. “Our biggest challenge at World Omni, as within the data and […]
  • Natalie Mattila
  • March 16, 2017

World Omni to Integrate Consumer Loan Histories Into Servicing System

World Omni Financial Corp. is updating its digital platforms to better meet customer preferences and improve service this year, President Dan Chait told Auto Finance News. “We are investing a bit in IT to make sure we are interacting with our customer in the most flexible and helpful way possible,” he said. “We are keeping […]
  • Natalie Mattila
  • January 26, 2017

Baseball Statistics Provide Lessons for Auto Finance Industry

The auto finance industry should not only embrace data, but be willing to completely tear down the old ways of thinking to come up with innovative ways of analyzing that data, said Rod Arends, vice president of World Omni Financial Corp., at Used Car Week’s Subprime Forum. Data has “mattered forever, but maybe we didn’t […]
  • William Hoffman
  • November 29, 2016

World Omni: Latest ABS Issuance Brings ‘Broad Investor Interest’ [VIDEO]

MIAMI — World Omni Financial Corp. heated up the securitization pipeline for the second time this year with a $941.5 million transaction, according to a presale report from Fitch Ratings Agency. However, the transaction showed a high percentage of extended-term loans, and slightly weaker credit quality, according to Fitch. The issuance — which closed Sept. 14 — […]
  • Natalie Mattila
  • September 27, 2016
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