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www.leasingnews.org Thursday,
May 30, 2002 Accurate,
fair and unbiased news for the equipment Leasing Industry
Headlines---- CBA Auto Finance Study Shows Shift From Leases to Loans
Techfi Corp. Announces the Release of Web Office™ September/2001 Remember When Performance Indicators Report Reveals Continued Growth In The Equipment Leasing Industry ### Denotes Press Release ####
################################### ######################## FirstLease Acquires Hamilton National Leasing FirstLease, a subsidiary of Firstrust Bank, has acquired the entire $35 million lease portfolio of Hamilton National Leasing, Ft. Washington, PA. The acquisition adds 3,000 new accounts to FirstLease's client roster. "Hamilton provided us with an attractive combination of a large lease portfolio with national accounts and established relationships with key equipment vendors," explains Hugh Connelly, COO, FirstLease. "The acquisition allows us to enhance the services offered to Hamilton vendors by expanding the geographic territory and offering supplemental products. In addition, Hamilton's lessees now have access to a larger range of loan products and services thanks to our parent company, Firstrust Bank and our affiliation with Apex Mortgage, which offers a full array of business loans and commercial mortgages." Bob Purring, former president of Hamilton National Leasing, will serve as vice president of underwriting for FirstLease, reporting to Connelly. In addition, all of Hamilton's employees have been offered employment with FirstLease. Hamilton will continue to operate under its name for approximately six months, at which time it will be fully integrated into FirstLease. FirstLease, Inc. is a subsidiary of Firstrust Bank, one of the strongest banks in the U.S. with assets over $2 billion and 26 community banking offices. FirstLease is committed to providing the small business owner with an alternative means of acquiring critical equipment for their businesses by offering competitive, niche-specific leasing to creditworthy entrepreneurs. Wendy Kapnek Kapnek Communications 215-830-9890 http://www.firstleaseonline.com/ 215-263-9727 1-866-49-FIRST ##################### ########################################## CBA Auto Finance Study Shows Shift From Leases to Loans ARLINGTON, Va., -- The Consumer Bankers Association's 2002 Automobile Finance Study shows a shift from leasing to loans.
While some measures show a decline in average vehicle prices, the average new loan size increased from $19,705 to $20,656, about a 5% jump. Loan maturities increased, and 82% of new vehicle loans were over four years.
Year-to-year growth was measured for 11 of 41 survey respondents, who reported a growth in loan origination dollars of 22.4%, compared to 8.3% in 2001. Four of the 11 were captive finance companies, so growth likely reflects heavy use of financing incentives.
Automated loan decisions increased from 18% to 26% of all application decisions, which speeded turnaround time.
The survey measures activity at year-end 2001, and is prepared for CBA by BenchMark Consulting International, Marietta, Ga.
For the first time, average credit bureau scores were slightly higher for used vehicle loans, at 692, compared to new vehicle loans, 680.
Leasing Continues Losses
Lessors became more conservative in setting residual values, reflecting continued heavy losses. Lease terms are based on the estimated residual value of the vehicle at lease-end, as estimated in guidebooks. Last year, 38% of new leases were below guidebook values, compared to 3% a year earlier.
However, losses remained high as leases expired. For full term vehicles returned to lessors, the average loss increased to $2,451, from $2,342 a year earlier and $1,920 two years ago. Longer term leases are becoming more popular, with leases of five years or longer growing to 28% from 17% a year earlier and 12% two years ago.
Complimentary review copies of the study are available to the media. The study price is $300 for CBA members and $495 for non-members, and additional information is available at http://www.cbanet.org .
The Consumer Bankers Association is the recognized voice on retail banking issues in the nation's capital. CBA was founded in 1919 and provides leadership and representation on retail banking issues such as privacy, fair lending, and consumer protection legislation/regulation. CBA members include most of the nation's largest bank holding companies as well as regionals and hold two-thirds of the industry's total assets
SOURCE Consumer Bankers Association
CO: Consumer Bankers Association #############
###################################################
Techfi Corp. Announces the Release of Web Office™
Innovative Technology to Enhance Client Service Capabilities for
Investment Advisors DENVER– Techfi Corp., a leading provider of software and outsourcing solutions for investment advisors and financial planners, announced the release of Techfi Web Office™ – a scalable, web-enabled product suite for
investment advisors and financial planners. Techfi Web Office provides
dynamic web access for advisors and their clients and supports
multi-office installations and remote data administration.
“With Web Office, users will have the advantage of a fully
integrated web-enabled software system, including portfolio
management, performance reporting and contact management,"
said Matt Abar, president and CEO of Techfi. "Most other
products offer static reports or PDF files. With the release of
Web Office, advisory firms may now provide consolidated account
information to clients and outside offices anytime through any Internet
connection.”
Techfi has become the leader in portfolio management systems by
offering the power, superior functionality, usability and level
of integration required by investment advisors, financial planners
and broker/dealers. Web Office fills the user's need for dynamic
portfolio and performance reports as well as tracking important
client information.
“Web Office allows sophisticated advisory firms the technology
to differentiate the services they provide to high net worth clients,”
said John Halliday, vice president of sales and marketing for Techfi.
“By providing dynamic position and
performance returns consolidated across all investment accounts,
investment advisory firms can keep clients up-to-date on investment
performance without having to constantly generate static reports.”
Web Office provides users with sophisticated portfolio management,
trading and contact management capabilities
including:
• Portfolio management
• Access to detailed client account information including transactions
and securities information
• Client portfolio and performance reports, which can be created
from a remote location
• Management and compliance reporting library
• Customization of user roles and rights to allow different
levels of access to the system
• Dynamic account access for clients through the internet
• Trading
• Easily rebalance clients and accounts to targeted asset allocation
or portfolio models
• Trade generation wizard to create buys and sells for target
percentages
• Flexible trade blotter for trade management and manual transaction
entry
• Contact management
• Client profiling and mail merge creation
• Document management and storage for important client documents
such as wills and financial plans
• Access to view online calendars and schedule tasks and activities
• Create workflows to assign multiple tasks for recurring events
such as quarterly reporting or new client set-up
For more information about how Techfi Web Office can benefit your
organization or other Techfi products and services,
contact Techfi Corporation at 720-891-2000, or online or at www.www.techfi.com
About Techfi:
Headquartered in Denver, Techfi Corporation was founded in 1998
and provides software, technology and services to the
financial intermediary market. Clients include broker dealers, investment
advisors, financial planners and other
financial institutions. Techfi develops leading-edge technology
products and services for the financial intermediary
market including:
• AdvisorMart Institutional, the premiere private-labeled data
aggregation solution for financial institutions;
• Financial Office, an integrated suite of financial products
that includes Portfolio, Trader and Contact;
• Web Office, an integrated suite of web-enabled solutions
for portfolio management, contact management, account
rebalancing and trade generation;
• AdvisorMart.com, the industry's first online account aggregation
and portfolio management solution.
For more information visit their Web site at www.www.techfi.com
Note: Techfi and AdvisorMart are registered trademarks of Techfi
Corp. Other product and company names herein may be trademarks of their respective owners WiredCapital announced today that Michael Pennell, Vice President of Marketing and Product Management, will speak on performance benchmarking during the general session at the ELA Business Technology Solutions Conference and Exhibition on Monday, June 17, 2002 in Philadelphia, PA. Session Information: Title: Benchmarking Your Business Date: Monday, June 17, 2002 Time: 11:45-12:30pm Location: Philadelphia Marriott Hotel Click on the following link to see the full news release: http://www.wiredcapital.com/public/press/press_release_052902.htm Eplus—Improve efficiencies via Technology Much has been written in Leasing News on the topic of how companies can save money and improve efficiencies by utilizing technology. I encourage you to take a few moments from your very busy schedule and allow me to introduce a new but proven solution: ePlus Enterprise Cost Management (eECM). As a public company with more than a decade of consistent growth and profitability, ePlus stands poised to make a tremendous cost-savings impact in almost every industry. eECM is a new suite of solutions designed to minimize financial and operational costs while providing an exceptional level of integrated business automation. eECM capitalizes on ePlus' proven execution in indirect supply chain and financial value chain best practices and provides every element required to help control and manage enterprise costs in today's economy. Delivering Financial Services, eProcurement, Supplier Enablement and Asset Management, this suite of strategic technologies are available immediately and benefits businesses of all sizes. I would like to offer several elements for additional support: * The attached ePlus Press Release officially announcing eECM. * The Aberdeen Group Executive White Paper: "Enterprise Cost Management: A Holistic Approach to Capturing and Sustaining Cost Savings" http://www.eplus.com/whitepaper_reg.shtml * A roster that includes thousands of ePlus customers in every industry who have been utilizing various ePlus solutions over the past 10 years. Key customers are readily and easily available for interviewing to demonstrate first-hand the efficiency of the eECM flexible and modular approach to cost savings. * ePlus Executive Management for interviewing. Our management team is recognized and well-respected within the industry and are always available to discuss the ePlus philosophy and our solutions in great detail. Thank you very much for your time today. I welcome the opportunity to discuss any of the above supporting elements with you and to serve up the merits of eECM and the benefits your readers may derive. Sincerely, Lisa Savino ePlus Marketing 631.218.9510 office 631.897.2404 cell Full Press Release with Support Information here: http://www.leasingnews.org/docs/2002-5-29%20ECM%20final.htm #################### ######################################### (Remember When: ) Performance Indicators Report Reveals Continued Growth In The Equipment Leasing Industry Posted
09/21/01 Net
Portfolios Increased Nearly 12 Percent From Second Quarter 2000
to Second Quarter 2001 ARLINGTON,
Va. - September 5, 2001 - The Equipment Leasing Association's (ELA)
second quarter 2001 Performance Indicators Report (PIR) revealed
that new business volume grew 2 percent since second quarter 2000,
10 times the revised second quarter economic growth rate of 0.2
percent as reported by the Commerce Department. The total net portfolio
for the key equipment lessors increased nearly 12 percent compared
to second quarter 2000. In contrast, the Commerce Department reported
that business spending on the purchase of new industrial equipment
dropped 14.6 percent in the second quarter of 2001. "The
drop in business investment was so substantial that it slashed more
than 2.4 percent from the second quarter growth rate," noted
Ralph Petta, ELA's vice president of industry services. "While
businesses cut spending on purchasing new equipment, the second
quarter PIR numbers show that companies are leasing at an ever-increasing
rate." ELA's
PIR tracks the equipment leasing industry's performance in six key
areas: total net portfolio, total new business volume, average losses,
credit approval ratio, total number of employees and delinquencies.
ELA surveys approximately 20 major leasing companies on a quarterly
basis, affording trend analysis across all the performance areas.
Second
quarter PIR highlights include:
ELA's
Information and Research Services Department conducts the PIR each
quarter. To receive more information on the PIR or a copy of the
associated graphs and charts, please contact Stacey Wells 202.944.3377
or via e-mail at swells@hillandknowlton.com. Additional market research
on the equipment leasing industry is available to the media free
of charge at ELA online at http://www.elaonline.com and through
ELA's Information and Research Services Department at: 703.516.8380.
###
Organized
in 1961, the Equipment Leasing Association (ELA) is a non-profit
association representing companies involved in the dynamic equipment
leasing and finance industry. ELA's mission is to promote the leasing
industry as a major source of funds for capital investment in the
United States and abroad. ELA maintains an informational portal
for financial decision-makers at www.leaseassistant.org. Headquartered
in Arlington, Va., ELA has more than 850 member companies and a
staff of 27 professionals. Equipment leasing is estimated to be
a $280 billion industry in 2001. Visit ELA online at http://www.elaonline.com.
---
ELA
Second Quarter 2001 PIR Second
Quarter 2001 Performance Indicators Report Participants: ADP
Credit Corporation CONTACT: To
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