Ally Bank 2014 Annual Report Download - page 53
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Table of Contents
Management's Discussion and Analysis
Ally Financial Inc. • Form 10-K
41
Servicing and Monitoring
We service all of the wholesale credit lines in our portfolio and the wholesale automotive finance receivables that we have securitized. A
statement setting forth billing and account information is distributed on a monthly basis to each dealer. Interest and other non-principal
charges are billed in arrears and are required to be paid immediately upon receipt of the monthly billing statement. Generally, dealers remit
payments to us through wire transfer transactions initiated by the dealer through a secure web application.
Dealers are assigned a risk rating based on various factors, including capital sufficiency, operating performance, and credit and payment
history. The risk rating affects the amount of the line of credit and the ongoing risk management of the account. We monitor the level of
borrowing under each dealer's credit line daily. We may adjust the dealer's credit line if warranted, based on the dealership's vehicle sales rate,
and temporarily suspend the granting of additional credit, or take other actions following evaluation and analysis of the dealer's financial
condition.
We periodically inspect and verify the existence of dealer vehicle inventories. The timing of these collateral audits varies, and no
advance notice is given to the dealer. Among other things, audits are intended to assess dealer compliance with the financing agreement and
confirm the status of our collateral.