Participation Points: Why Servicers Should Encourage Borrower Engagement

Customer engagement is a hot topic, with many companies now adding “customer experience” directors and other such roles to their ranks. But what does it mean to “engage” a borrower? In basic terms, engagement describes participation. But, for loan servicers, that means interacting with the borrower on their terms. With the right tools and resources, […]
  • Sagent Lending Technologies
  • September 14, 2018
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3 Strategies to Improved Dealer Communication

Dealers serve as the sounding board to what plans, tactics, and strategies OEMs and captives implement, John Thacker, national director of sales for Kia Motors Finance, told Auto Finance Excellence. “If [Kia] has a new plan or program and we want to pilot it, we run it by our dealer council because their feedback is […]
  • Nicole Casperson
  • September 12, 2018
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FTC Conducts First Compliance Sweep Since Amendment to Used Car Rule

The Federal Trade Commission (FTC) announced in mid-July that it conducted the first compliance sweep of car dealerships since the effective date of its revised Used Car Rule requiring the use of a new Buyer’s Guide sticker. The sweep occurred between April and June 2018 in 20 cities nationwide. The FTC partnered with 12 agencies […]
  • Chad Fuller
  • September 7, 2018
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Five Questions With… Chuck Berend of BBVA Compass

Five Questions With is a monthly Q&A segment on AutoFinanceExcellence.org that offers a glimpse of what senior industry executives are thinking about outside the boardroom. Read on to find out. Chuck Berend has led BBVA Compass‘s auto finance unit since April 2017. He came to Birmingham, Ala.-based BBVA in July 2015 as senior vice president […]
  • Nicole Casperson
  • September 5, 2018
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Ramping Up Operations With an Eye Toward Acquisition

If there is one lesson Westlake Financial Services has learned since it started purchasing portfolios back in 2011, it’s to prepare for hiccups along the way. Through the launch of portfolio acquisition and management divisions, the lender has discovered several essential practices that businesses should incorporate for successful acquisitions and overall growth. Westlake leverages its third-party […]
  • Nicole Casperson
  • August 29, 2018
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Honcker Pushes Out Features as the Company Creates New Revenue Channels

Editor’s note: This interview was originally featured in the June issue of Auto Finance News.  With 2019 on the radar, vehicle leasing app Honcker is evolving its business to include features that engage customers from the moment they start searching for vehicles through the end of their leases, Founder Nathan Hecht told Auto Finance News. […]
  • Auto Finance News
  • August 27, 2018
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3 Reasons Lenders Should Promote Refis

As lenders pull back from the subprime space competition for prime credit is getting ultra-competitive, and lenders are going to have to think creatively to attract customers, said Brian Landau, senior vice president and automotive business leader at TransUnion. “There’s more competition now and less demand,” Landau said. “It causes some challenges for the incumbents […]
  • William Hoffman
  • August 24, 2018
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Kathy Kraninger: CFPB Nominee or Smoke Screen?

The White House nominated Kathleen Kraninger to be the new director of the Consumer Financial Protection Bureau. Currently associate director for general government in the Office of Management and Budget (i.e., deputy to OMB and interim CFPB Director Mick Mulvaney), Kraninger was not among the names rumored to have been on the shortlist for the job […]
  • Michael Benoit
  • August 22, 2018
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Former Tesla Exec Maps Strategies for New Venture With Startup Fair

Shared services are gaining momentum, as the opportunity for mobility outweighs consumers’ desire for ownership, Diarmuid O’Connell, chief strategy officer for subscription service Fair, told Auto Finance News. Formerly vice president of business development for Tesla Inc., O’Connell was one of the company’s longest-serving executives before his departure in October 2017. He was instrumental in […]
  • Nicole Casperson
  • August 20, 2018
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