This week's top auto & powersports finance news stories
 
First Associates
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baja

First Associates Loan Servicing Opens a New 1000-Seat Operations Center in Baja California

First Associates Loan Servicing announced today the opening of their new 1000-seat capacity operations center in Baja California, Mexico. This state-of-the-art center will support the continued global expansion of First Associates and enable the company to continue delivering first-class service and security for their clients.

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Falling Auto Prices

Car Prices Still Falling but The Sky Isn't as Lender Profits Up

Auto lenders that sounded alarm bells about slumping car values are seeing less of a price drop than feared. Proof of the reprieve - however short-lived - is showing up in their profits. Ally Financial Inc., the bank that gets most of its revenue from auto loans, saw record adjusted earnings in the second quarter. General Motors Co.'s finance arm reported all-time high pretax profit in the period, and Ford Credit's was its best since 2011.

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top10

Sub-Prime Auto Loan Delinquencies Continue to Rise, but Experts Provide Divergent Views of Impact

Nearly one year ago, we wrote about auto loan delinquencies' potential impact on the automotive industry. Now, car sales are falling and auto loan delinquencies are making headlines again, with a growing number of subprime loans falling into default. UBS reports that subprime default rates are reaching levels consistent with those just prior to the recession.

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Nearly New Cars

Millions of Nearly New Cars and Trucks Head to Market This Year

Millions of off-lease cars and trucks are heading for the used-car market this year and next, a big increase in the supply of "nearly new" used vehicles.  The upshot for consumers is that sooner or later, the increase in supply should cause used-vehicle prices to fall, for both cars and trucks.  According to J.D. Power and Associates, nearly 3.4 million leases are expected to expire this year. 

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Product Spotlight: Treasury Services
 
First Associates Treasury Services
 

From an industry leader with the expertise, infrastructure and cloud-based technology to provide first-class paying agent, collateral management and other treasury service requirements. Without the need for additional third-party service providers.

First Associates is the only company in its class to receive a Morningstar MOR RV1 ranking for overall excellence which is a direct reflection of the stellar reputation we have earned as a trusted service provider. Our peers rated us a LendIt 2017 Top Service Provider, we merited a zero-discrepancy SSAE-16 audit and we meet all CFPB, TCPA and FDCPA regulations. This is why so many clients put their trust in us to administer their treasury services.

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Upcoming Events
 
 

Webinar: The Importance of a Servicer Ranking: What it Takes to Earn a Top Ranking from Morningstar Credit Ratings
September 13
1:00 PM

ABS East
September 17-19
Fontainebleau Hotel
Miami Beach, FL

LendIt Europe
October 9 - October 10
London Intercontinental
London, United Kingdom

LEND360
Save 15% with promo code FIRSTASSOCIATES15
October 11-13
Fairmont Dallas
Dallas, TX

Powersports Finance
October 24 - October 25
Wynn Las Vegas
Las Vegas, NV

California Financial Services Association
October 12 - October 14
Ritz Carlton Hotel Rancho Mirage
Rancho Mirage, CA

Auto Finance Summit 17
October 25 - October 27
Wynn Las Vegas
Las Vegas, NV

American Banker Digital Lending + Investing Conference
November 2 - November 3
Sheraton New York
New York, NY

 
 

About First Associates Loan Servicing, LLC 

First Associates offers in-depth industry expertise, cutting-edge technology and a comprehensive array of services across a variety of asset classes. We are the fastest growing third party servicer of loan and lease portfolios in the United States and are the only company in our class to achieve a Morningstar ranking of ‘stable’ which is the highest certification available to assess operational risk and excellence in loan servicing. Our model is build with your success in mind and we deliver flexible, scalable and innovative solutions to meet the demands of any client. Learn More 

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888.486.2509
solutions@1stassociates.com 
www.1stassociates.com