Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
VINtek introduces Dealer Monitoring Program
ORLANDO, Fla. (4/1/09)--VINtek, a provider of automotive collateral management services, has launched its Dealer Monitoring Program, a risk management program for lenders that manages risk and perfects liens from auto dealers. The program helps auto finance providers avoid potential losses due to title exceptions from the liens they fund through their network of dealers. Prior to funding a dealer after a loan is approved, an indirect lender can use the program to ensure the lien will be perfected. The program enables funding of dealers within a day or two of the loan’s approval, but with increased risk management benefits for lenders, VINtek said. “The Dealer Monitoring Program reduces and prevents the accumulation of unperfected liens for auto finance lenders of all sizes,” said Larry Highbloom, VINtek president. “Our process also protects indirect lenders from situations where dealers are closing their doors due to insolvency, yet the lender may be financing a consumer vehicle for purchase with a pre-existing lien that the dealer has not satisfied.” Program fees are variable and can be passed on to the borrowers or dealers at no cost to the lender, VINtek said. VINtek is based in Philadelphia.


RSS





print
News Now LiveWire
Better economic & #CU conditions,leading to higher rates in '15,'16, will boost CU earnings, asset quality,capital http://t.co/rmJvi3MIpQ
5 hours ago
RT @CUNA: Today is the first day of #CUYouthMonth How is your #creditunion celebrating?
10 hours ago
New @FICO score metric expected this week, will include utility payments http://t.co/l0hGhilMqQ
10 hours ago
.@TheNCUA increased supplier diversity in 2014 by 49%, although NCUA’s workforce diversity levels declined slightly.
10 hours ago
Also from FFIEC today, council announces reappointments of Mary Hughes and Lauren Kingry to its State Liaison Committee. 2of2
11 hours ago