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Can’t get a loan? Perhaps you’re applying at the wrong financial institutions.
As large banks have tightened the reins on lending, Michigan’s credit unions, particularly those in Oakland County, have experienced phenomenal growth. Last year, the state’s credit unions added 59,000 new members, the most in five years, and lent $23.3 billion, a 5.6 percent increase over 2008.
4. January 2010
In an effort to further differentiate itself from the old GM, General Motors is pushing its dealerships to remodel by offering to pay for all the necessary work.
GM wants to make its new dealerships visually enticing to buyers, along with moving them away from the look and feel associated with “old GM” showrooms. As part [...]
4. January 2010
The $3.8B is needed due to mortgage losses.
INQUIRER STAFF AND WIRE SERVICES
The U.S. Treasury agreed yesterday to pump $3.8 billion – a third round of bailout money – into GMAC Financial Services to shore up the money-bleeding operations of the company’s residential-mortgage arm, which employs 1,800 people in Fort Washington.
GMAC said the infusion, which gives [...]
4. January 2010
HERNDON, Va., The Audi S5 provides the best residual values to its owners, more than other luxury sports cars, according to ALG. The Audi brand also ranks among the top 3 luxury brands for predicted residual value for the second consecutive year, the highest amongst German luxury competitors.
ALG’s 11th annual Residual Value Awards, for the [...]
30. November 2009
Article by: Stephen Quigley
Mortgage fraud dropped in Q3 2009, according to the first quarterly fraud index from information provider firm Experian.
ADVERTISEMENT The number of fraudulent cases in Q3 declined to 25 in every 10,000 following three consecutive quarters where around 30 in every 10,000 applications were fraudulent. However, the Q3 figure has increased from [...]
23. November 2009
By Brad Allen | Published Mon, Nov 23 2009 9:09 am
A battle for bragging rights over which company’s credit-scoring system counts the most went against Minneapolis-based FICO (formerly Fair Isaac). The case brought by FICO claimed trademark infringement and unfair competition by Experian, TransUnion and VantageScore Solutions, but a Minneapolis jury found in favor [...]
23. November 2009
LAKE SUCCESS, N.Y.–(BUSINESS WIRE)– DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK), a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, today announced that Bridget Townsend has been named senior director and general manager of the DealerTrack Inventory Optimization suite of solutions, with responsibility for product strategy [...]
17. November 2009
NEW YORK (Reuters) – Ford Motor Credit is marketing $1 billion of securities supported by auto loans to investors in the U.S. asset-backed securities market, sources said on Monday.
The upcoming sale features one-year, two-year and three-year AAA-rated tranches that will be underwritten by Barclays Capital, JPMorgan Securities and Morgan Stanley, market sources said.
Ford’s sale will [...]
17. November 2009
Here’s a reason to be optimistic if you’re a motorcycle dealer: Harley-Davidson of St. Augustine, Fla., reports that it posted record sales during the month of October. And the owners are saying it’s not an isolated incident.
“We were very pleased with our results last month,” said Clark Vitulli, co-owner of Harley-Davidson of St. Augustine (and [...]
10. November 2009
By Alex De Grand, Legal Writer, State Bar of Wisconsin
Nov. 6, 2009 – The Federal Trade Commission announced on Oct. 30 that it will once more postpone enforcement of its anti-identity theft “red flags” rules until June 1, 2010.
In a series of postponements made since May 1 when the rules were initially scheduled to go [...]
4. January 2010
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