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Exclusively Serving the Below-Prime Auto Financing Industry

13TH ANNUAL NON-PRIME AUTO FINANCING CONFERENCE HELD

Hanover, MD (June 5, 2009) --- The National Automotive Finance (NAF) Association's 13th Annual Auto Financing Conference was held June 3 to 5, 2009 at the Renaissance Worthington Hotel in Fort Worth.

"Because of the unprecedented economic stress in the industry, we set out to create a conference that would give those in attendance information and strategies they could put to work in their businesses," says jack Tracey, NAF Association executive director.

This year's theme, Weathering the 2009 Economy, echoes Tracey's words. Representatives from JD Power and Associates, Standard & Poor's, National Auto Dealers Association, Manheim and a panel of CEOs from institutions that offer non-prime financing presented views of where the non-prime auto finance industry is headed.

Practical solutions were offered in new collections technology, in a panel discussion of operations issues and in a unique session on stress testing an institution's risk management. A panel of legal experts updated regulations that have an impact on auto dealer, including Red Flags Rules and bankruptcy issues.

Some results from the NAF Association's 2009 Non-Prime Automotive Financing Survey, conducted by outside consultant BenchMark Consulting International, were offered during the association's annual meeting. The 2009 survey was expanded to include more metrics to measure portfolio performance, credit quality, underwriting, originations and collections. Data presented gives a snapshot of the state of the industry at the end of 2008. The survey is distributed at no cost to NAF Association members and companies that participated. For others, the cost is $300.

New board members were elected, including: Crossbow, represented by Ashley Herndon; Exeter Finance Corp., represented by Richard Frunzi; Flagship Financial, represented by Mike Ritter; National Auto Lenders, represented by Asbel Perez; Westlake Financial, represented by Ian Anderson; and van Wagenen Financial Services, represented by Scott Zucco.

Exhibits are another way conference attendees stay up-to-date. The latest products and services designed especially for the non-prime auto industry were on display. There were ample opportunities to ask questions during the sessions and to network during receptions, breaks, meals and free time. The conference was open to members and non-members.

Major sponsors were DealerTrack, the grand corporate sponsor, and corporate sponsors, ACS, PassTime, Regional Acceptance Corporation and SST. A golf event on June 3rd was sponsored by van Wagenen Financial Services, fiserv and TransUnion.

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