Author - Mike Gibb

Daily Digest – August 17. Delinquency Rate on Auto Loans Increases; Experts Share Tips For Improving Collection Practices

DELINQUENCY RATE ON AUTO LOANS INCREASES AS LENDERS PULL BACK ON SUBPRIME LENDING The delinquency rate on auto loans increased 10% between the second quarter of 2016 and the second quarter of 2017, according to data released by TransUnion. The likely reason for the increase is the influx of subprime loans that lenders have been originating...

Daily Digest – August 14. Nicholas Financial Losses Climb in 2Q, Higher Losses on Horizon

NICHOLAS FINANCIAL LOSSES CLIMB IN 2Q  The delinquency and charge-off rates at Nicholas Financial are climbing steadily, according to data released by the company during its second-quarter earnings report. The total amount of loans that were at last 31 days delinquent was $58.2 million at the end of the second quarter, up from $37 million last...

Daily Digest – August 10. Credit Unions Top List of Auto Loan Originators; Wells Puts Blame on Vendor For Insurance Fiasco

CREDIT UNIONS TOP LIST OF AUTO LOAN ORIGINATORS CU Direct, a network of credit unions, originated the most auto loans during the first six months of 2017, beating Capital One, Wells Fargo, and Ally. CU Direct originated nearly 600,000 auto loans during the first half of 2017, 19% more than it did last year. WELLS PUT BLAME ON VENDOR FOR...

Daily Digest – August 8. Man Arrested For Allegedly Shooting At Repo Agent; DRN’s Alex Price Hosting Skiptracing Webinar Series

MAN ARRESTED FOR ALLEGEDLY SHOOTING AT REPOSSESSION AGENT A Pennsylvania man was arrested yesterday after he allegedly shot at a repossession agent who showed up to recover the man’s vehicle. Nobody was hurt in the incident and the vehicle was ultimately repossessed after the man was arrested. ALEX PRICE HOSTING FOUR-PART SKIPTRACING...

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