As the Consumer Financial Protection Bureau continues to intensify its focus on the vehicle finance industry, every lender needs to be actively implementing best practices across their operations. Among the practices that will help lenders minimize risk while maximizing efficiency are: * Ensuring accuracy in the content, timing and delivery method of borrower communications * [...]
With the powersports industry showing steady recovery post-recession, many lenders are increasing investments in digital capabilities to boost loan and lease volumes. MotoLease LLC, for example, utilizes all electronic files, which makes the application approval process quicker and easier for lessees, Maurice Salter, chief executive, told Powersports Finance. “We can approve in a matter of seconds, [...]
Wells Fargo & Co. today reported auto originations of $7.6 billion, up 13% from the same time a year ago. As for outstandings, indirect auto receivables were $57.1 billion, up 2.5% year over year. Commercial auto outstandings were $10.3 billion in 4Q15, up 14.2%, year over year.U.S. Bank has released year-end earnings today, and wrapped [...]
