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BREAKING: Wells Fargo Dealer Services to Merge 60 Regional …
May 31, 2017 · Wells Fargo Dealer Services is in the process of consolidating its network of collection centers, a company spokeswoman confirmed to Auto Finance News. “Wells Fargo Dealer Services is reorganizing its collections activities in order to improve the customer experience,” the company said in an emailed statement. “Dealer Services is evolving to meet changing needs of […]
Navy Federal Credit Union launches online car-buying platform …
Mar 12, 2021 · 0. Navy Federal Credit Union is expanding on its digital car-buying capabilities with a new online purchasing platform powered by the online new- and used-car marketplace TrueCar. Navy Federal, like many auto lenders, is looking for ways to streamline car buying and financing online amid a shift in consumer preferences, Joe Pendergast, vice ...
Global Lending Services Buys Resurgent Auto Finance, Secures …
Aug 14, 2012 · Newly established Global Lending Services LLC has acquired Resurgent Auto Finance. The acquisition includes a $38 million loan portfolio as well as a funding and servicing platform. Atlanta-based Global Lending Services also has entered into a partnership with New York-based investment firm BlueMountain Capital Management. Several BlueMountain managed funds and Chairman Douglas Duncan will ...
Santander acquires Gateway One $1B portfolio - Auto Finance News
Dec 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 …
Westlake using digital refunds to save resources
Oct 25, 2023 · Westlake Financial has digitized auto loan refund payments to save time and devote more resources to core operations. The lender signed on with corporate payouts platform Onbe to replace its check-based program for auto loan overpayment refunds with a digitally based process, according to a Westlake release. The digital program launched in mid-July has […]
10 Innovative Startups Disrupting Mobility Finance
May 30, 2017 · Here are 10 innovative startups that are disrupting the auto finance space, and how each plans to respond to mobility trends: 1. Divido: Buy Now, Pay Later. Divido is a platform for merchants, lenders, and intermediaries that want to offer instant new credit as a payment option. Its business model allows customers to spread the cost of any ...
Wells Fargo Auto Division Adopts New Name to Reflect Changes
Jan 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 has implemented is an effort to ...
CU Loan Source originations increase 83%, rebrands to Cinch Auto ...
Mar 4, 2022 · The prime indirect lender eyes further geographic expansion in 2022. Despite a lack of vehicle supply, Cinch Auto Finance, formally CU Loan Source, has logged an increase in origination and application volume as the indirect auto finance company focuses on geographic expansion. The Atlanta-based credit union service organization, which is owned ...
Bank of America defers ‘tens of thousands’ of auto loans
Apr 7, 2020 · Bank of America’s auto division has deferred “tens of thousands” of auto loans since first implementing its consumer relief measures March 20, a company spokesperson confirmed with Auto Finance News, but could not provide a more concrete figure. Customers can choose to defer their payments for 30-, 60- or 90-day periods to help avoid delinquencies.