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Last updated on April 23, 2014 at 1:22 EDT

Latest Subprime lending Stories

2014-04-01 08:22:20

TUCSON, Ariz., April 1, 2014 /PRNewswire/ -- A unique new funding program offered by Advantage Funding, an independent transportation lender, is helping more automobile dealerships expand customer financing by reducing roadblocks to credit approvals. "The largest hurdle for dealers looking to enter the subprime lending space is access to capital," Ed Kaye, president of Advantage Funding, told members of the National Vehicle Leasing Association (NVLA) today at NVLA's annual...

2014-03-07 08:20:27

GREENVILLE, S.C., March 7, 2014 /PRNewswire-iReach/ -- In spite of having higher balances on their auto loans in general, car owners in the United States are still managing to make payments on time. By the end of 2013, the average debt per loan holder was about $16,769. That was 4.4% more than the previous year. For 11 quarters running, the average debt has increased, according to TransUnion. Nonetheless, the quarterly late payment average was 1.3%, lower than any quarter since 2007....

2014-03-05 08:22:36

FARMINGTON HILLS, Mich., March 5, 2014 /PRNewswire/ -- RouteOne announced today that Friendly Finance Corporation is now available as a fully integrated lender on the RouteOne platform. Dealers who have a relationship with Friendly Finance may now process credit applications electronically to Friendly Finance through RouteOne. Friendly Finance Corporation is a subprime lender specializing in providing customers with auto loans before they have been discharged from a Chapter 7 or...

2014-03-02 04:20:07

MIAMI, March 2, 2014 /PRNewswire-iReach/ -- Car shoppers who assumed they could not be approved for an auto loan due to past credit problems need to visit Valley Auto Loans based out of South Carolina. The company, which recently implemented a bad credit lending policy, has been able to approve many applicants with blemishes on their credit report. In addition to a high approval rate of bad credit applicants, Valley Auto Loans has been able to connect customers to lenders offering an...

2014-01-06 10:21:29

Mortgage defaults still high after predatory lenders forced out One of the major factors blamed for the subprime mortgage crisis may have actually played only a minor role in the housing meltdown, new research reveals. Some people claim that high mortgage default rates which helped crash the economy in 2008 were the fault of predatory lenders who approved risky housing loans to unqualified buyers. But a study of an anti-predatory lending program in Chicago found that the program...

2013-12-23 23:00:58

Lehman Brothers‘ subprime mortgages, fallout from the largest bankruptcy in U.S. history, are being crowdfunded by American Homeowner Preservation(“AHP”). Consisting primarily of loans birthed by Lehman, AHP’s 2013D opportunity empowers accredited investors to acquire the interests in the $3,960,000 offering and earn returns of 9 – 12% on terms of 1 – 5 years. Chicago, IL (PRWEB) December 23, 2013 Lehman Brothers‘ subprime mortgages, fallout from the largest bankruptcy in...

2013-12-04 08:22:52

SCHAUMBURG, Ill., Dec. 4, 2013 /PRNewswire/ -- Experian Automotive today announced that interest rates for new vehicle loans dropped to 4.27 percent, the lowest rate since the organization began publically reporting the data in 2008. According to its latest State of the Automotive Finance Market report, car buyers took advantage of the lower rates in Q3 2013 to help obtain larger loans. The report also found that the average amount financed for a new vehicle reached its highest point since...

2013-11-13 04:24:10

Company is partnering with more direct lenders to offer safe loan options for borrowers with bad credit CHICAGO, Nov. 13, 2013 /PRNewswire-iReach/ -- SameDayLender24.com recently announced that it has enrolled more direct lenders that are willing to offer same day payday loans online and more flexible terms with easy and fast approval for people with bad credit. The move is in line with the growing trend among Americans who prefer personal loans over credit card purchases. To...

2013-09-30 08:21:15

As the end of the model year approaches, CarFinance.com gives buyers the inside track on purchasing a quality vehicle at a sustainable monthly payment IRVINE, Calif., Sept. 30, 2013 /PRNewswire/ -- As the end of the model year approaches, CarFinance.com, an online direct lending site dedicated to helping credit-challenged car buyers and owners, has released its 2013 Top Tips for Buying a Car with Less-than-Prime Credit. With current auto loan interest rates remaining attractively...

2013-09-17 23:27:20

According to Credit Reporting Agency Experian, 84.5 percent of people obtaining cars in the second quarter of 2013 financed the transactions with loans or leases, up from 79.7 percent in 2008. Georgetown, TX (PRWEB) September 17, 2013 U.S. banks are loosening their credit requirements when it comes to auto lending, according to a September 3 article in the New York Times. Two factors are driving this increase in sub-prime or bad credit lending. The number of car borrowers falling behind...