Post Tagged with: "credit losses"

Photo by William Hoffman / Royal Media Group

HDFS Losses ‘Temper,’ Yet Continue to Rise in 1Q

by April 18, 2017 at 12:21 pm

Harley-Davidson Financial Services originated $709.8 million — up 3.8% year-over-year — in the first quarter, according to the company’s earnings call today. Annualized net losses — at 2.3% in 1Q — were up 33 basis points from the prior-year quarter, and to top the highest level the captive has seen since the fourthRead More

Change in License Terms Poised to Boost Slingshot Finance Volume

Change in License Terms Poised to Boost Slingshot Finance Volume

by April 10, 2017 at 10:59 am

Riders in 30 states can now drive a Polaris Slingshot with a valid state driver’s license — instead of a previously required motorcycle license — which could boost sales and even lower credit losses on the three-wheeled vehicles, according to Donal Hummer Jr., ThunderRoad Financial’s chief executive. ThunderRoad Financial isRead More

Commerce Bank Watchful of Auto Delinquencies, Tightens Credit

Commerce Bank Watchful of Auto Delinquencies, Tightens Credit

by April 6, 2017 at 10:00 am

DALLAS — Auto delinquencies are rising across the industry, but the increase has been most prominent in subprime segments. Although Commerce Bank mainly extends auto loans in the prime spectrum, it’s still keeping a watchful eye, said Robert Griffin, the bank’s indirect lending manager.

Powersports Expansion on the Road Map for Westlake

Powersports Expansion on the Road Map for Westlake

by March 28, 2017 at 11:19 am

Westlake Financial Services is eyeing expansion for its powersports portfolio this year, from adding new dealers to the network, to launching e-contracting, according to David Goff, the lender’s assistant vice president of marketing. Westlake will roll out e-contracting to powersports dealers this year, shortly after the nationwide expansion of e-contracting toRead More

Harley-Davidson Financial Boosts Loss Provisions in 4Q

Harley-Davidson Financial Boosts Loss Provisions in 4Q

by February 17, 2017 at 10:00 am

Harley-Davidson Financial Services loan-loss provision shot up 119% year over year — to $39.8 million — in 2016, driven by higher retail credit losses. The decline came amid a 2.3% year-over-year decline in originations, to $3.1 billion. Losses — up 40 basis points to 1.8% in 4Q16 — continue to reach record highs unseenRead More

HDFS Originations Dip 2.3% in 2016

HDFS Originations Dip 2.3% in 2016

by January 31, 2017 at 11:30 am

Harley-Davidson Financial Services reported a 2.3% year-over-year decline — to $3.1 billion — in total origination volume for 2016 in its latest earnings report. However, loan originations ticked up in 4Q16 to $496.8 million — up 2.8% from the same time a year prior. The captive’s 2016 originations were comprised of 80%Read More

ThunderRoad Alters Slingshot Underwriting Amid Rising Losses

ThunderRoad Alters Slingshot Underwriting Amid Rising Losses

by December 7, 2016 at 12:30 pm

ThunderRoad Financial is taking a more “conservative” approach to financing Slingshot vehicles, due to higher losses — double — than other powersports vehicles in its portfolio, said President and Chief Executive Donal Hummer Jr. “We haven’t pulled back from financing them, but we are being conservative on how we areRead More

Powersports Lenders Strengthen Subprime Approvals With Co-Signers

Powersports Lenders Strengthen Subprime Approvals With Co-Signers

by November 4, 2016 at 11:44 am

LAS VEGAS — Powersports lenders are asking for a co-signer in an effort to strengthen subprime loan approvals, in the wake of a higher level of subprime consumers applying for loans this year, said Donal Hummer Jr., president and chief executive of ThunderRoad Financial. With delinquencies risings and losses peakingRead More