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Arivo Acceptance to update risk model, doubles footprint to 20 …
WEBSubprime lender Arivo Acceptance is gearing up to roll out an updated credit risk model as the company nearly doubles its national footprint and moves its operations to a new facility. Arivo is now in 20 states, up from about 10 in pre-pandemic times, Chief Financial Officer Steve Pachella told Auto Finance News.
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 transferred automatically to […]
Santander acquires Gateway One $1B portfolio | Auto Finance News
WEBSantander 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 National Bank, the ...
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Wells Fargo Auto Division Adopts New Name to Reflect Changes
WEBWells 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 […]
Santander to Buy Citi Auto Loan Portfolio | Auto Finance News
WEBSantander Consumer USA extended its buying spree today, inking a deal to acquire $3.2 billion of CitiFinancial Auto’s loan portfolio. Santander will also manage another $7.2 billion of Citi’s auto loans. Terms of the deal, expected to close next quarter, were not disclosed. With these purchases, Santander’s managed auto portfolio will hover around $30 billion.
5 questions with … Christine Brown, Wells Fargo head of auto …
WEBWells Fargo Head of Auto Strategy and Senior Vice President Christine Brown began her career as a personal banker underwriting auto loans. After moving to other lines of the business for 15 years, she found herself back in the auto finance industry in 2019 when she was appointed to her current position. As head of […]
Navy Federal Credit Union launches online car-buying platform …
WEBMar 12, 2021 · 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 ...