September 29, 2015

David Johnson will be speaking on the "Ins and Outs of Repo & Remarketing" panel at the PowerSports Finance Summit in Las Vegas on October 21, 2015.  Johnson and others will offer tips for locating hard-to-find vehicles, review the nuances of powersports condition reports, and how to maximize results at auction. 


DriverUp, the first online marketplace for automotive financing, announced it closed a $20 million Series B round. The DriverUp marketplace gives accredited investors an opportunity to directly enter the $1 trillion auto lending industry and provides dealers with an expedited, streamlined credit process.  New investor SF Capital Group led the round joined by existing investors Emerald Development Managers and RRE Ventures.  Read more.
CNBC

DriverUp, the first online marketplace for automotive financing, announced it closed a $20 million Series B round. The DriverUp marketplace gives accredited investors an opportunity to directly enter the $1 trillion auto lending industry and provides dealers with an expedited, streamlined credit process.  New investor SF Capital Group led the round joined by existing investors Emerald Development Managers and RRE Ventures.  Read more.

From the Environmental Protection Agency to ... securitized bonds? The emissions scandal currently rocking Volkswagen is having ripple effects across markets, potentially moving all the way to sliced-and-diced bonds tied to car loans and leases.  Sales of auto asset-backed securities, or ABS, have been booming in recent years as investors seek out higher-yielding products. According to Deutsche Bank estimates, about $5.6 billion worth of VW auto ABS is outstanding, with some $4.39 billion of that figure coming from bonds backed by loans and leases.
Read more.

Perhaps underwriting standards aren't quite as relaxed now as they might have a been a few quarters ago, but Fitch Ratings still is expecting to see "new entrants" into subprime auto financing during the near term.  Along with touching on subprime, Fitch's latest auto loan asset quality report highlighted a pair of other auto financing trends, including strong U.S. auto loan performance and fewer commercial banks easing underwriting terms. Read more.

Competition for floorplanning will continue to get tougher, said Mike Morgan, vice president of Floorplan Xpress, which provides floorplan financing for independent used-car dealers. "When you look at floorplanning as a basic model, it's a quick way to make a lot of money," he told Auto Finance News at the National Auto Auction Association convention here Wednesday. "We are all seeing a lot of competition, which gives dealers options," he said. Captive finance companies have traditionally dominated wholesale lending to dealers, but banks and one relative newcomer, GM Financial, are taking floorplan share.  Read more.
Events

Lend360
Atlanta, GA
10/13/15 - 10/15/15



PowerSports Finance Conference
Las Vegas, NV
10/21/15


Auto Finance Summit
Las Vegas, NV
10/21/15 - 10/23/15
Money 20/20
Las Vegas, NV
10/25/15 - 10/28/15

AltFi Global Summit
New York, NY
11/2/15
American Banker Marketplace Lending + Investing Conference
New York, NY



Spotlight on Services:

First Associates' borrower verification program is a proven method of reducing delinquencies and defaults by confirming that borrower information was collected accurately and that the borrower understands both the terms of his or her loan or lease and how to make future payments.

Advantages:
  • Reduce first payment defaults and borrower delinquency
  • Increase payment reliability by recruiting borrowers to ACH
  • Strengthen customer satisfaction and brand loyalty
  • Proactively identify problem areas in origination
  • Correct errors that may escalate into customer disputes
  • Welcome customers to your brand with friendly and professional Customer Service Representatives
About First Associates Loan Servicing, LLC.

First Associates is the fastest growing loan servicer in the nation and has been serving the needs of partners and borrowers for almost 30 years. Our state-of-the-art technology and infrastructure mean we have the flexibility and scalability to meet the demands of any client.


First Associates Loan Servicing, LLC | (858) 999-3064 | [email protected]

15373 Innovation Drive, Suite 300, San Diego, CA 92128

 

www.1stassociates.com