Launcher rolls out origination solutions tailored for credit unions

JACKSONVILLE, Fla. –  LAUNCHER.SOLUTIONS (Launcher) entered the credit-union world on Tuesday to offers a solution the company believes can work exceptionally well in both the prime and the subprime market with regard to risk assessment and complex workflows. The technology provider specializing in loan originations announced that it now can serve credit unions market with its configurable loan origination system appTRAKER. Launcher’s full suite of software solutions will now be available to credit unions as well as other lenders and financial institutions. “We have found that in addition to a loan… Read More »Launcher rolls out origination solutions tailored for credit unions

COVID-19 intensifying customer-satisfaction challenges for banks

JACKSONVILLE, Fla., and TROY, Mich. –  The COVID-19 pandemic and government measures to slow its spread are altering the way Americans bank, pay and shop on an unprecedented scale and with rapid speed, according to a survey recently released by financial services technology provider FIS. J.D. Power pointed out that banks have been confronting a difficult paradox for the last several years. According to the J.D. Power 2020 U.S. Retail Banking Satisfaction Study, the most satisfied retail banking customers use both branch and digital services to conduct their personal banking, while… Read More »COVID-19 intensifying customer-satisfaction challenges for banks

F&I Providers Relief Fund strives toward $1M goal as need grows

PONTE VEDRA BEACH, Fla. –  Personnel within one of the most important dealership departments still need help as the coronavirus pandemic continues. Organizers of the F&I Providers Relief Fund for F&I managers have raised more than $500,000 in only about a month — half of its $1 million fundraising goal — but the board is still looking for donors to meet the overwhelming need for financial assistance grants to F&I managers. Only about three weeks after announcing a seven-member board of directors and $1 million fundraising goal, the F&I Providers Relief… Read More »F&I Providers Relief Fund strives toward $1M goal as need grows

SCUSA reaches $550M settlement with 33 states over subprime paper

DALLAS –  On Tuesday, Santander Consumer USA Holdings finalized a voluntary settlement topping $550 million with 33 states and the District of Columbia that alleged that contracts that the finance company funded through certain dealers dating back to 2010 violated consumer protection laws because of the high risk that certain individuals would default. Officials said SCUSA has also agreed to injunctive terms that they believe make important changes to its underwriting practices. The complaint alleged that Santander violated law by approving contracts that it expected would default at rates of greater… Read More »SCUSA reaches $550M settlement with 33 states over subprime paper

Memorial Day weekend: Steep discounts motivating car shoppers

CHICAGO –  In the current COVID-19 crisis environment, Cars.com is seeing more people considering buying a vehicle, as many view their car purchase as a much-needed escape and safe mode of transportation, said Cars.com editor-in-chief Jenni Newman. “The good news is, consumers no longer have to leave their home to purchase a vehicle, as we’ve seen thousands of dealerships nationwide adopt digital buying practices such as virtual test drives and appointments and home delivery options,” Newman said in a news release. Virus concerns and steep discounts on cars are motivating 33%… Read More »Memorial Day weekend: Steep discounts motivating car shoppers

Black Book observations as ‘normal’ makes gradual return to auction

LAWRENCEVILLE, Ga. –  Black Book’s newest COVID-19 Market Update released on Tuesday described how auctions, consignors and dealers all are continuing to acquaint themselves with the “normal” within the wholesale market. Analysts are seeing more indications of a late spring market regenerating a bit as buyers adapt to relying on online technology to make inventory decisions. Black Book reiterated that wholesale prices dropped significantly in April as uncertainty over COVID-19 impact and response dampened the demand. Analysts pointed out that wholesale prices declined by 5.9% in April. “Typically, used prices increase… Read More »Black Book observations as ‘normal’ makes gradual return to auction

Dealers juggle inventory as buyer demand climbs going into Memorial Day

LAWRENCEVILLE, Ga., & SANTA MONICA, Ca. –  Dealers are caught juggling how to structure their inventory as shopper activity and purchase intension climbs to levels registered before the coronavirus pandemic arrived, according to information and observations shared by Black Book and TrueCar on Tuesday. And the trends are particularly important considering that the important Memorial Day sales weekend is straight ahead. TrueCar analysts began by explaining its COVID-19 vehicle-buying insights arrived based on their marketplace data prior to and after COVID-19 social distancing mandates that began to take effect as well… Read More »Dealers juggle inventory as buyer demand climbs going into Memorial Day

PODCAST: Why CPO should remain a priority

Tuesday, May. 19, 2020, 04:27 PM CARY, N.C.  –  In this episode of the Auto Remarketing Podcast, Ben Bartosch of J.D. Power Valuation Services returns to the show to talk certified pre-owned vehicles. He weighs in on how long automaker incentives for CPO might last, why dealers should maintain their focus on acquiring CPO-worthy inventory and more. Plus, Bartosch expands on the analysis shared in this article. To listen to this episode, click on the link available below, or visit the Auto Remarketing Podcast page.  Download and subscribe to the Auto Remarketing Podcast on iTunes or… Read More »PODCAST: Why CPO should remain a priority

Location Services adds 2 new executives to management team

ANN ARBOR, Mich. –  Location Services made two significant additions to its senior leadership team on Tuesday. The provider of loss mitigation solutions for the financial services industry brought on Jose Delgado as chief client officer and Mohit Mahajan as chief information officer. Delaware Street Capital partner David Heller of Location Services’ parent company credited chief executive officer Jerry Kroshus for the executive moves, saying in a news release that “Jerry has a knack for building strong teams.  “Adding top talent like Jose and Mohit to our senior leadership group reinforces… Read More »Location Services adds 2 new executives to management team

Location Services hires 2 former PAR North America executives

ANN ARBOR, Mich. –  Location Services made two significant additions to its senior leadership team on Tuesday. The provider of loss mitigation solutions for the financial services industry brought on Jose Delgado as chief client officer and Mohit Mahajan as chief information officer. Delaware Street Capital partner David Heller of Location Services’ parent company credited chief executive officer Jerry Kroshus for the executive moves, saying in a news release that “Jerry has a knack for building strong teams.  “Adding top talent like Jose and Mohit to our senior leadership group reinforces… Read More »Location Services hires 2 former PAR North America executives