DriveTime

KBRA Assigns Preliminary Ratings to Bridgecrest Lending Auto Securitization Trust 2024-1

Retrieved on: 
Thursday, January 11, 2024
Banking, Professional Services, Insurance, Finance, KBRA, DriveTime, Class, Security (finance)

KBRA assigns preliminary ratings to five classes of notes issued by Bridgecrest Lending Auto Securitization Trust 2024-1 (“BLAST 2024-1”), an asset-backed securitization collateralized by a pool of sub-prime auto loans.

Key Points: 
  • KBRA assigns preliminary ratings to five classes of notes issued by Bridgecrest Lending Auto Securitization Trust 2024-1 (“BLAST 2024-1”), an asset-backed securitization collateralized by a pool of sub-prime auto loans.
  • These include a Base Structure and an Upsize Structure, with aggregate initial note balances of $485,875,000 and $591,499,000 respectively.
  • Both pools are collateralized by sub-prime auto loans that are fixed rate installment loans, made to subprime borrowers.
  • This transaction is the second public, SEC-registered offering of Bridgecrest Acceptance Corporation (“Bridgecrest”) serviced auto loans originated by DriveTime Automotive Group, Inc. (together with Bridgecrest, “DriveTime” or the “Company”).

Array Technologies, Inc. Reports Financial Results for the Third Quarter 2023 – Continues strong operational execution; announced Chief Financial Officer transition

Retrieved on: 
Tuesday, November 7, 2023
Adjustment, ATI Technologies, REN, Treasury, True North Venture Partners, History, Use, KLA Corporation, EBITDA, Corporation, ASP, GAAP, Acquisition, Brunswick Corporation, ICMS, First Solar, Kelley School of Business, Inflation Reduction Act of 2022, EPS, Employment, DriveTime, Business, Partner, CUST, Micron Technology, Intel, Indiana University, Inflation, Transition system, Uncertainty, STI, Video game, Bank, Pharmaceutical industry, Real estate, Cryptocurrency, Online shopping, Finance, Array

ALBUQUERQUE. N.M., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”), a leading provider of tracker solutions and services for utility-scale solar energy projects, today announced financial results for its third quarter ended September 30, 2023.

Key Points: 
  • N.M., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”), a leading provider of tracker solutions and services for utility-scale solar energy projects, today announced financial results for its third quarter ended September 30, 2023.
  • “Despite the near-term secular challenges which impacted our volume when compared to the prior year, Array again delivered another strong quarter across all of our key metrics.
  • We are seeing a steady increase in our domestic pipeline, which has more than doubled from the second quarter.
  • Today the Company also announced that Kurt Wood has been named Chief Financial Officer effective November 13, 2023.

KBRA Assigns Preliminary Ratings to Bridgecrest Lending Auto Securitization Trust 2023-1

Retrieved on: 
Thursday, October 12, 2023
Banking, Professional Services, Finance, KBRA, DriveTime, Class, Security (finance)

KBRA assigns preliminary ratings to five classes of notes issued by Bridgecrest Lending Auto Securitization Trust 2023-1 (“BLAST 2023-1”), an asset-backed securitization collateralized by a pool of sub-prime auto loans.

Key Points: 
  • KBRA assigns preliminary ratings to five classes of notes issued by Bridgecrest Lending Auto Securitization Trust 2023-1 (“BLAST 2023-1”), an asset-backed securitization collateralized by a pool of sub-prime auto loans.
  • BLAST 2023-1 will issue five classes of notes totaling $598.5 million, collateralized by approximately $700.0 million sub-prime auto loans, as of the September 30, 2023 final cut-off date.
  • The auto loans are fixed rate installment loans, made to subprime borrowers.
  • This transaction is the first public, SEC-registered offering of Bridgecrest Acceptance Corporation (“Bridgecrest”) serviced auto loans originated by DriveTime Automotive Group, Inc. (together with Bridgecrest, “DriveTime” or the “Company”).

Tempe Selected as Host Site for a 2nd Time for Artificial Intelligence Bootcamp – APPLICATIONS CLOSING SOON!

Retrieved on: 
Friday, August 11, 2023
Natural language processing, Food, Student, Marketing, Boot, Parent, Curriculum, Synthetic media, ChatGPT, A.I, Facial recognition, Intelligence, Boot camp, DriveTime, Computer vision, Machine learning, Generative, MST, City, Transport, Robotics, Western MST Magnet High School (Louisville, Kentucky), Data science, Medical device, Tutoring, AI

TEMPE, Ariz., Aug. 11, 2023 (GLOBE NEWSWIRE) -- Time is running out to apply to participate in the Mark Cuban Foundation Artificial Intelligence (AI) Bootcamp hosted by DriveTime in Tempe.

Key Points: 
  • TEMPE, Ariz., Aug. 11, 2023 (GLOBE NEWSWIRE) -- Time is running out to apply to participate in the Mark Cuban Foundation Artificial Intelligence (AI) Bootcamp hosted by DriveTime in Tempe.
  • DriveTime has been selected as one of the 28+ host companies across the U.S. for fall 2023.
  • If accepted, participants will engage in a four- week bootcamp held on consecutive Saturdays from October 14th to November 4th.
  • Students interested in applying to the Mark Cuban Foundation AI Bootcamp should do so before Friday, September 8th, 2023 at markcubanai.org/drivetimepr .

KBRA Assigns Preliminary Ratings to DT Auto Owner Trust 2023-3

Retrieved on: 
Thursday, July 6, 2023
Banking, Professional Services, Finance, KBRA, DriveTime, ABS, Class, Security (finance)

KBRA assigns preliminary ratings to five classes of notes issued by DT Auto Owner Trust 2023-3 (“DTAOT 2023-3”), an asset-backed securitization collateralized by a pool of sub-prime auto loans.

Key Points: 
  • KBRA assigns preliminary ratings to five classes of notes issued by DT Auto Owner Trust 2023-3 (“DTAOT 2023-3”), an asset-backed securitization collateralized by a pool of sub-prime auto loans.
  • DTAOT 2023-3 will issue five classes of notes totaling $480.7 million, collateralized by approximately $558.3 million sub-prime auto loans.
  • As of the 6/30/2023 final cut-off date, the auto loans are fixed rate installment loans, made to subprime borrowers.
  • KBRA considered its operational review of DriveTime, as well as several business updates with the Company since that time.

Informed.IQ launches availability of AI-Powered Verifications for financial institutions in AWS Marketplace

Retrieved on: 
Tuesday, June 6, 2023
DriveTime, Amazon Web Services, OCR, AI, Fraud, Bias, AWS, SAN, CPS, Online shopping, Orig

SAN FRANCISCO, June 6, 2023 /PRNewswire/ -- Informed.IQ, a leader in modernizing verifications for financial institutions like Westlake, CPS, DriveTime, and Origence, today announced the general availability of its platform in AWS Marketplace, a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software that runs on Amazon Web Services (AWS). By launching in AWS Marketplace, Informed's customers and prospects can now access a streamlined onboarding experience, including consolidated billing.

Key Points: 
  • By launching in AWS Marketplace, Informed's customers and prospects can now access a streamlined onboarding experience, including consolidated billing.
  • "Having an offering in AWS Marketplace allows our customers and prospects to easily access Informed's services and realize streamlined onboarding benefits.
  • We are excited about the offer since it creates significant value for current and potential customers who feel AWS Marketplace is the preferred medium for purchasing software solutions," said Justin Wickett, CEO of Informed.IQ.
  • And it provides real-time, automated loan processing capabilities enabling lenders to reduce bias, comply with regulatory requirements and be audit ready.

Tempe Selected as Host Site for a 2nd Time for Artificial Intelligence Bootcamp – APPLICATIONS NOW OPEN!

Retrieved on: 
Friday, April 28, 2023
Autumn, Natural language processing, Food, Natural language, Student, Curriculum, ChatGPT, A.I, Facial recognition, ML, Intelligence, DriveTime, Computer vision, Cost And Management Accountant (India), Machine learning, Generative, MST, City, AI, Transport, Robotics, News, Data science, Medical device, Tutoring

TEMPE, Ariz., April 28, 2023 (GLOBE NEWSWIRE) -- DriveTime will host a Mark Cuban Foundation Artificial Intelligence (AI) Bootcamp for high school students at No-Cost for a 2nd time in the Fall of 2023.

Key Points: 
  • TEMPE, Ariz., April 28, 2023 (GLOBE NEWSWIRE) -- DriveTime will host a Mark Cuban Foundation Artificial Intelligence (AI) Bootcamp for high school students at No-Cost for a 2nd time in the Fall of 2023.
  • The AI Bootcamp in Tempe will be targeted at underserved high school students (9th-12th grade) and will introduce these high school students to basic AI concepts and skills.
  • DriveTime is one of 28+ host companies selected to host camps across the US in Fall 2023.
  • The DriveTime Bootcamp will be held over four consecutive Saturdays starting on October 14th and ending on November 4th.

KBRA Assigns Preliminary Ratings to DT Auto Owner Trust 2023-1

Retrieved on: 
Thursday, January 12, 2023
Banking, Professional Services, Insurance, Finance, DriveTime, KBRA, Class, Security (finance)

KBRA assigns preliminary ratings to five classes of notes issued by DT Auto Owner Trust 2023-1 (“DTAOT 2023-1”), an asset-backed securitization collateralized by a pool of sub-prime auto loans.

Key Points: 
  • KBRA assigns preliminary ratings to five classes of notes issued by DT Auto Owner Trust 2023-1 (“DTAOT 2023-1”), an asset-backed securitization collateralized by a pool of sub-prime auto loans.
  • DTAOT 2023-1 will issue five classes of notes totaling $489.1 million, collateralized by approximately $584 million sub-prime auto loans.
  • As of the 12/31/2022 final cut-off date, the auto loans are fixed rate installment loans, made to subprime borrowers.
  • KBRA considered its operational review of DriveTime, as well as several business updates with the Company since that time.

DriveTime and Informed.IQ Partner to Simplify the Car-Buying Experience

Retrieved on: 
Tuesday, October 11, 2022
SAN, LinkedIn, Software, Time, Insurance, Bias, Income, DriveTime, Industry, AI, CEO, U.S. Venture Partners, ML, Partnership, Online shopping

TEMPE, Ariz. and SAN FRANCISCO, Oct. 11, 2022 /PRNewswire/ -- DriveTime, the largest privately owned used car sales and finance company in the country, announced the next phase of its partnership with Informed.IQ, a provider of AI-based software for financial institutions. Through this partnership, DriveTime has created a process for customers to digitally upload their documents to instantly verify income data. Informed.IQ is a fast growing supplier of automation software to the auto finance industry and now counts the majority of the country's top auto lenders as customers. 

Key Points: 
  • Through this partnership, DriveTime has created a process for customers to digitally upload their documents to instantly verify income data.
  • The two companies collaborated to implement the software, allowing DriveTime customers to upload required documents for an auto finance application electronically, eliminating burdensome paperwork.
  • "At DriveTime, we continuously seek to make the car buying and financing experience more enjoyable for our customers.
  • "It's been wonderful working with an innovative company like DriveTime," said Justin Wickett, CEO of Informed.IQ.

DriveTime and Informed.IQ Partner to Automate and Revolutionize Car-Buying and Financing Experiences

Retrieved on: 
Tuesday, October 11, 2022
SAN, LinkedIn, OCR, Time, Insurance, Bias, Income, DriveTime, Industry, AI, Life, Review, CEO, ML, Partnership, Technology, Online shopping, Bank

TEMPE, Ariz. and SAN FRANCISCO, Oct. 11, 2022 /PRNewswire/ -- DriveTime, the largest privately owned used car sales and finance company in the country, is proud to announce that it can now verify income for the majority of customers in seconds. No longer the days of printing paystubs and other stipulations, DriveTime has created a process for customers to digitally upload their documents and receive a review response within seconds through the use of AI – based optical character recognition (OCR) technology.

Key Points: 
  • We are proud to support DriveTime as it continues to find ways to support its diverse customers across the country."
  • Over the past 25 years, DriveTime has made a name for itself as a leading innovator in the U.S. auto industry.
  • Headquartered in Tempe, Arizona, DriveTime is the largest privately owned used car sales and finance company in the country.
  • Using its proprietary scoring technology and financing model, DriveTime helps customers get into the car that's right for them, regardless of their credit situation.