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Latest Subprime lending Stories

2014-10-16 12:21:08

ATLANTA, Oct. 16, 2014 /PRNewswire/ -- What: According to the latest National Consumer Credit Trends Report from Equifax, subprime auto loans account for approximately 32 percent of auto loans being approved today. As subprime auto lending continues to grow, most dealers and lenders still rely on traditional credit scores and customer-reported details to maintain the stability of their loan portfolios. However, these may not be the most accurate or comprehensive ways to assess...

2014-10-02 23:04:52

Skypatrol’s DVT allows lenders to quickly and inexpensively access critical information to help verify prospective and existing borrower information. For subprime lenders this tool can be more helpful than a traditional credit check. Miami, FL (PRWEB) October 02, 2014 Skypatrol, a global leader in GPS integrated tracking solutions, announces the introduction of their game-changing DVT (Data Verification Tool) for its Defender 2.0 users. DVT utilizes the latest technology in advanced...

2014-09-03 08:22:33

Used vehicle loan and monthly payment amounts reach all-time high SCHAUMBURG, Ill., Sept. 3, 2014 /PRNewswire/ -- Experian Automotive today announced that the percentage of new vehicle loans to subprime and deep subprime borrowers began to level off in Q2 2014. According to its latest State of the Automotive Finance Market report, the percentage of new vehicle loans going to consumers in the subprime and deep subprime segments was at 15.1 percent in Q2 2014, down from 22.1 percent in Q2 2013....

2014-06-02 08:21:13

Analysis also shows consumer leasing continues to rise, with a record one in four new vehicles leaving the lot as a lease SCHAUMBURG, Ill., June 2, 2014 /PRNewswire/ -- Experian Automotive today announced that loan terms continued to lengthen, with the average automotive loan term reaching 66 months for the first time. According to Experian Automotive's latest State of the Automotive Finance Market report, loan terms in the first quarter of 2014 reached the highest level since the company...

2014-05-07 23:00:57

Home sales for 620 and below Fico borrowers improved in April, as the volume of sales rose from the same month a year earlier, according to Alternative Lending Magazine data. Palo Alto, CA (PRWEB) May 07, 2014 According to the Alternative Lending Magazine report, approximately 1,7216homes were sold in April to borrowers with a credit scores below 620 FICO using Alternative Financing such as hard money, private money and trust deed investments, up 18.02 percent year over year. This rise is...

2014-05-06 08:22:03

Four-day event will feature A-list industry experts and breakthrough technology training for subprime auto finance companies, independent retail dealers and buy-here-pay-here professionals. FORT WORTH, Texas, May 6, 2014 /PRNewswire/ --Innovate, a national convention for subprime auto finance companies, independent retail dealers and buy-here-pay-here professionals, has announced the details of its 7(th) annual conference. The event will take place Sept. 21 through Sept. 24 at the Gaylord...

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...


Word of the Day
ween
  • To think; to imagine; to fancy.
  • To be of opinion; have the notion; think; imagine; suppose.
The word 'ween' comes from Middle English wene, from Old English wēn, wēna ("hope, weening, expectation"), from Proto-Germanic *wēniz, *wēnōn (“hope, expectation”), from Proto-Indo-European *wen- (“to strive, love, want, reach, win”).
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