Re: I Can Help, I Run A Car Dealership
02-21-2012 09:42 AM
Do dealerships get "dinged" by the lenders for non-performing or under-performing loans that they originate?
An example of non-performing would be a repo... an example of under-performing would be, The guy pays the car off early or pays extra, so the lender doesn't get to make back the amount of profit he anticipated by lending the money.
I was just wondering because I read through Fannie Mae's buying and selling guide for mortgages, and Fannie Mae definately frowns when people default early on a Fannie Mae backed mortgage as well as a Fannie Mae Underperforming mortgage... In fact, it leads to an investigation of the originator by Fannie Mae. I guess I'm wondering if the same is true for Auto Loans?
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