GO Financial completed the sale of a substantial equity interest in GO Financial to Manheim today

Subprime auto finance company GO Financial completed the sale of a substantial equity interest in GO Financial to Manheim today, furthering connecting the dealer-support efforts of GO Financial and NextGear Capital.

GO Financial is now majority owned by DriveTime chairman Ernie Garcia and DriveTime president and chief executive officer Ray Fidel and minority owned by Manheim. NextGear Capital still is wholly owned by Manheim.
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Establishing the Market Value of a BHPH Auto Note

Establishing the Market Value of a BHPH Auto Note
BHPH Notes
•Every note, or contract has a unique market value.
•The market value of a note is the highest cash price an informed and proactive seller can sell it for on the open market.
•The market value of a note will be somewhat less than the outstanding principal balance remaining on it.
•The market value of a note is inversely related to the general interest rate environment.
•There are a number of important factors that determine the market value of a note.
◦The type of collateral
◦The value of the collateral
◦The amount of owner’s down payment
◦The current note balance
◦The interest rate
◦The number of payments made and remaining
◦Your experience receiving payments

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CFPB Names Assistant Director

The Consumer Financial Protection Bureau has named an assistant director for the division that oversees auto finance.

Jeffrey Langer has joined the CFPB as the assistant director of installment and liquidity lending markets in the Bureau’s Research, Markets, and Regulations Division.

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