Spotlight on innovation: 2024 Auto Finance Excellence Awards honor strategic leadership
Auto lenders maintained steady operations through strong leadership and a commitment to innovation despite the tight lending environment, elevated interest…
Inside Global Lending Services’ EV financing strategy
Global Lending Services has launched EV financing on the heels of implementing enhanced dealer tools and risk scoring to drive…
First Brands files for bankruptcy after weeks of lender scrutiny
First Brands Group Holdings has filed for Chapter 11 bankruptcy, capping weeks of turmoil sparked by creditor concern over the…
Repo agency margins squeezed, driving agencies out of business
Profitability woes continue to prompt vehicle recovery agencies to shutter operations leading to longer recovery times amid rising repossession volumes….
CarMax Auto Finance sees margin expansion despite rising loan losses
CarMax Auto Finance in the first quarter saw a decline in income as loan losses started to hit its financial…
DOJ indictment alleges Tricolor’s $2.2B fraud dates back to 2018
An indictment unsealed today for Tricolor former Chief Executive Daniel Chu and Chief Operating Officer David Goodgame reveals Tricolor’s alleged…
CPS prioritizes servicing and collection efforts as DQs rise
Consumer Portfolio Services is focusing on building its servicing and collections practices as the company works to get ahead of…
Axis Auto originations fall 77%
Canadian subprime lender Axis Auto Finance tightened credit parameters in the second quarter of its fiscal year 2024 ending Dec….
Share of subprime borrowers up 1.6% YoY
Subprime loan issuance climbed year over year in July but fell month over month as prime consumer demand wanes. The…
Market Trends Impacting Auto Originations and Loan Servicing
While the automotive wholesale/retail industry continues its digital transformation, two recent Cox Automotive vodcasts cover key trends across the buying/selling/ownership…
Stellantis shakes up leadership team as new CEO takes office
Stellantis NV is reorganizing its top management ranks as new Chief Executive Officer Antonio Filosa begins his push to turn…
Powell signals Fed would respond to persistent inflation shock
Federal Reserve Chair Jerome Powell said the economic impact of new tariffs is likely to be significantly larger than expected,…
MarineMax F&I revenue increases 3.7%
Marine retailer MarineMax’s third-quarter earnings reflected strong finance and insurance activity even as inflationary pressures and affordability concerns dampened demand…
Big Wheels: Auto stocks rebound after falling 2% in market sell-off
Auto stocks have rebounded after falling 2% in a single day of trading Aug. 5 as fear over the slowing…
UACC originations climb 24.7% year over year
Vroom’s finance subsidiary United Auto Credit Corp.’s originations increased on a year-over-year basis as credit tightening contributed to improved portfolio…