Articles by: Cody Lyon

CREDIT: Delinquencies Rise, Lenders Tighten Credit

CREDIT: Delinquencies Rise, Lenders Tighten Credit

Operations, Risk April 12, 2017 at 12:54 pm

Subprime 60-plus-day delinquencies declined to 4.28% in February, compared with 5.09% in January, according to S&P Global. Year over year, however, February subprime delinquencies were up 14% over the same month a year prior. “Generally, delinquencies decline from January to February due to tax refunds and this pattern played out againRead More

Fintech Continues to Transform Auto Finance, but Will it Take Over?

Fintech Continues to Transform Auto Finance, but Will it Take Over?

Operations March 23, 2017 at 11:06 am

Fintech companies that advertise efficient financing solutions are becoming more prevalent in the auto industry. Technology is advancing in a way where traditional players have no choice but to partner with new entrants, but the tide hasn’t completely turned from competition to collaboration. That’s according to Chris Chestnut, president of Payix.Read More

The Four Stages of a CFPB Exam

The Four Stages of a CFPB Exam

Compliance, Operations November 11, 2014 at 1:03 pm

For many nonbank auto finance companies, an examination by the Consumer Finance Bureau will be a new experience. Legal experts David A. Luigs, Liz Alspector and Naeha Prakash of Debevoise & Plimpton LLP offered up some insight on what to expect.

Keeping An Eye On Vendors Must Be a Priority

Keeping An Eye On Vendors Must Be a Priority

Compliance, IT, Operations November 4, 2014 at 4:46 pm

Keeping track of a vendor is a big task, and it can be even bigger if what that vendor does is technical in nature. Lenders might assume they’ve covered themselves if they simply ask a service provider to address an issue related to technology, in particular if that problem is related to the vendor’s software.

A More Compliant Company is a More Competitive Company

A More Compliant Company is a More Competitive Company

Compliance, Guides, Management, Operations October 27, 2014 at 5:20 pm

These days, a more compliant company is a more competitive company.

What to Do If You Get ‘Served’ by a Regulator

What to Do If You Get ‘Served’ by a Regulator

Compliance, Management, Operations October 13, 2014 at 4:45 pm

One of the most important steps a company can take if it gets served a civil investigative demand from the FTC or any regulator is to be proactive, not reactive. That’s the advice from a chief legal officer for a major subprime auto finance company.

Simple Tips for Monitoring Credit Reporting Vendors

Simple Tips for Monitoring Credit Reporting Vendors

Compliance, Guides September 19, 2014 at 1:50 pm

With recent CFPB enforcement actions coupled with an expansion of supervisory oversight to nonbank auto lenders, compliance concerns just got a bit more pronounced.

8 Facts About Nonprime That You Need to Know

8 Facts About Nonprime That You Need to Know

Guides, Management, Operations, Risk, Sales & Marketing September 8, 2014 at 9:19 am

The fact that nonprime loan portfolios increased last year, delinquency rates grew at a faster clip are not the only facts you need to know about nonprime lending. To better understand the market, we offer these eight market facts to shed additional light on what’s happening in this ever-changing cornerRead More

Air, Light and Chairs Can Impact Productivity

Air, Light and Chairs Can Impact Productivity

HR, Management, Operations September 4, 2014 at 12:43 am

Believe it or not, company productivity can get stimulated by an employee’s surroundings, right on down to the chairs. At least that’s the theory of one fast-growing British subprime lender. Duncton Group’s Moneybarn says its new 20,000 sq. ft. building is especially designed to suit its flow of business andRead More