NationsBank Corp.'s automobile finance unit has agreed to refer subprime loan applicants to Houston-based First Investors Financial Services.

Under terms of the alliance, announced this week, a car dealer would fax a loan application to NationsBank Dealer Financial Services. If the applicant fails to meet the bank's credit standards, the document would be sent to First Investors, which would pay NationsBank a referral fee.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.