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WEB5 days ago — Auto Finance News provides the latest updates and insights on the auto finance industry, including fraud cases, financing trends, and program developments.
Westlake Tapped to Service Downgraded Honor Finance Portfolio
WEBAug 8, 2018 — Following last week’s Honor Finance ABS portfolio downgrade, Wells Fargo Bank — the trustee of the securitization — is requesting that Westlake Financial Services take over as the successor servicer to the portfolio, according to a report issued by Kroll Bond Rating Agency Inc. Honor Finance provided Wells Fargo with notice that it …
Automotive Credit Corp. Acquires Lender, Expands Credit Facility
WEBOct 17, 2017 — Subprime lender Automotive Credit Corp. (ACC) is focused on “organic growth” after completing its acquisition of Top Finance Company Inc. in late September, John Cavanaugh, chief financial officer of ACC, told Auto Finance News. “We will work on integrating the two companies, and we expect that to go very well,” he said. Southfield, Mich.-based ACC […]
Ford Credit Launches Lincoln Automotive Financial Services
WEBThe new finance company will provide financing to consumers who own or plan to purchase Lincoln models. Customers who currently use Ford Motor Credit to finance their Lincolns were transferred automatically to Lincoln Automotive Financial Services.
TD Auto to integrate loan payments on bank app
WEBMar 23, 2023 — TD Auto Finance plans to launch an integrated digital experience in the third quarter that allows customers to manage their auto loan using the bank’s mobile app. The lender also plans to expand real-time payments for dealers to Saturdays.
Santander acquires Gateway One $1B portfolio - Auto Finance News
WEBDec 19, 2019 — Santander Consumer USA is bolstering its servicing business via a newly inked acquisition of Gateway One Lending & Finance‘s $1.1 billion indirect auto loan portfolio, the companies announced on Wednesday. The acquisition includes an additional $500 million of indirect auto loan assets that SCUSA will service on behalf of TCF National Bank, the parent of […]
Powersports - Auto Finance News
WEBView industry insights and analysis for powersports lenders and dealers at Auto Finance News | Powersports Finance News.
Wells Fargo Auto Division Adopts New Name to Reflect Changes
WEBJan 26, 2018 — Wells Fargo Dealer Services is changing its name to Wells Fargo Auto in order to reflect the changes the company has made to its operations in the past year as well as open it up to more “creative” products, head of the division Laura Schupbach said in a press release. The biggest change the company […]
Wells Fargo Invests in Automated Underwriting ... - Auto Finance …
WEBMar 8, 2019 — After 18 months of tightening the reins, Wells Fargo Auto is on a growth trajectory, with a focus on investments to automate credit decisioning, Jerry Bowen, executive vice president and head of dealer relationships and product, told Auto Finance Excellence. “We got a lot of the work that needed to be done in the rearview […]
Arivo Acceptance secures warehouse facility with JPMorgan Chase
WEBNov 12, 2019 — Subprime lender Arivo Acceptance has secured an expandable $200 million warehouse line of credit with JPMorgan Chase, Steve Pachella, chief financial officer, told Auto Finance News. The warehouse facility comes on the heels of an inaugural $166 million securitization — the Sandy, Utah-based lender’s entire book of business — last month.