The recent bankruptcy filing of Tricolor Auto Acceptance, LLC (“Tricolor”) highlights collateral-related risks for lenders, providing an opportunity for banks and whole loan purchasers to assess their practices and controls to mitigate risk. Tricolor Situation Overview Tricolor, founded in 2007, is a “buy here, pay here” (“BHPH”) subprime auto finance company. This means that it... Read more » The post Seeing Red Flags in Tricolor: A Colorful Lesson on Collateral Interests appear...
