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WEB4 days ago · Auto lenders lean into AI for customer service. Auto lenders are incorporating artificial intelligence into their processes to improve customer service automation and credit decisioning while eyeing uses... Auto Finance News is the nation’s leading source for news, insights and analysis on automotive lending and leasing.
Ford Credit Launches Lincoln Automotive Financial Services
WEBFord Motor Credit Co. has announced the launch of Lincoln Automotive Financial Services to provide a customized customer experience for the luxury brand. The 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 …
A lenders guide to refund fees and charges of ancillary products
WEBOct 25, 2019 · Ancillary products are under scrutiny by attorneys general, the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency. These regulators are evaluating creditors’ policies and practices related to refunds of ancillary products upon early termination of the underlying contracts. Many ancillary products are …
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 …
Flagship Credit to launch direct-to-consumer lending
WEBAug 11, 2022 · Flagship Credit Acceptance is expanding into direct-to-consumer lending through an equity investment in automotive e-commerce technology provider Blinker. The Chadds Ford, Pa.-based subprime lender will integrate Denver-based Blinker’s loan origination technology powered by artificial intelligence (AI) and machine learning (ML). …
Global Lending Services to start digitizing loan servicing in 2022
WEBSep 30, 2021 · Global Lending Services is planning to digitize its loan servicing operations in the first half of 2022. GLS will use Lightico’s technology for servicing processes, GLS Chief Operating Officer Dennis Morris told Auto Finance News. “There are a number of opportunities where we can leverage [the completion cloud] technology to communicate …
SAFCO enters military lending following SNAAC acquisition
WEBJan 13, 2020 · Southern Auto Finance Co. (SAFCO) will start originating loans this quarter for military personnel following the subprime lender’s acquisition of Security National Automotive Acceptance Company’s (SNAAC) front-end origination assets, SAFCO’s Director of Sales and Marketing Zack Sawyer told Auto Finance News. Fort Lauderdale, …
Self-insurance, blanket coverage or CPI: Which is better for your …
WEBMar 3, 2021 · Blanket Coverage. With a blanket insurance policy, lenders pay a premium based on the total number of loans, typically a fixed dollar amount per vehicle or a percentage of the outstanding balance.
Sierra Auto Finance Unloads Servicing Portfolio
WEBMar 19, 2019 · Sierra Auto Finance transferred servicing of its portfolios to First Investors Financial Services on March 2, seven months after the subprime lender put a pause on new originations due to “unfavorable market conditions.”. Sierra, founded in 2012, had $144 million of outstanding receivables at yearend 2018, down from $185 million in July ...
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 […]