Wells Fargo Reports Record Originations for 2015
Fueled by falling gas prices and record new-vehicle sales, Wells Fargo originated a record $31 billion in auto loans for 2015.
Fueled by falling gas prices and record new-vehicle sales, Wells Fargo originated a record $31 billion in auto loans for 2015.
Wells Fargo and Chase Auto Finance grew third-quarter auto originations by 10% and 19%, respectively, with a Wells Fargo official noting that new auto sales were at their highest levels in a decade.
AmTrust Financial Services has announced the completion of its acquisition of Warranty Solutions from Wells Fargo for approximately $158 million in cash.
AmTrust announced last week that it has entered into a definite agreement to purchase Wells Fargo’s Warranty Solutions, which the bank acquired in October 2008 with its purchase of Wachovia Corp.
A new study from LendingTree contradicts media claims of a subprime bubble. It shows that finance sources are not taking part in risky lending practices despite growing subprime originations.
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