Articles by: Cody Lyon

Efficient and Effective Underwriting Tips

Efficient and Effective Underwriting Tips

Compliance, Operations, Risk July 15, 2014 at 10:49 am

When it comes to collections, lenders should focus on how much a borrower has in his pocket after he’s been paid. Most effective underwriting programs calculate the minimum net income needed after all the current debts are paid, and they look at how much money is needed to support the number of dependents in the household. Also, lenders have to take into account proposed car and insurance payments and need to determine the amount of discretionary income left over.

Winning Dealer Business and Keeping It

Winning Dealer Business and Keeping It

Auto dealers are concerned that their profits are getting pinched — at least that was the word at a June 25 Center for Auto Finance Excellence Webinar, called “Winning Dealer Business.”

How SunTrust is Managing Its Expansion Into New Markets

How SunTrust is Managing Its Expansion Into New Markets

Management, Operations, Sales & Marketing June 18, 2014 at 9:23 am

On the heels of 25% year-over-year auto loan growth, Atlanta-based SunTrust is branching out operations into Dallas, Chicago, and Boston. The bank will offer a full line of wholesale and indirect banking products to dealers in the three cities.

Compliance Lessons From the Condor Capital Case

Compliance Lessons From the Condor Capital Case

Best Practices, Compliance, Management, Operations June 6, 2014 at 12:48 pm

It’s no secret that lenders are living in a more regulated space as a result of interest from the Consumer Financial Protection Bureau. And, as the case of Condor Capital in New York shows, state regulators are likely to flex their own muscle to take on lenders in years to come.

Seasoned Professionals Help New Auto Lenders Grow

Seasoned Professionals Help New Auto Lenders Grow

HR, Management, Operations April 16, 2014 at 12:01 pm

How does a newer, perhaps smaller and less-established auto lender compete with the likes of Wells Fargo, Capital One or Santander Consumer USA?- Experienced People.

NADA Dealer Program Seeks to Reduce Potential CFPB Charges

NADA Dealer Program Seeks to Reduce Potential CFPB Charges

Compliance March 27, 2014 at 5:22 pm

A dealer compensation plan unveiled this past January by the National Automobile Dealers Association would have dealers establish a standard wholesale buy-rate markup amount for all customers.

What’s the Secret to Servicing Subprime Auto Loans?

What’s the Secret to Servicing Subprime Auto Loans?

Best Practices March 26, 2014 at 12:28 pm

When it comes to servicing prime or subprime loans, lenders say it’s day and night. So, when a lender is thinking about taking the subprime plunge, it’s important to go slow and execute on an implementation plan correctly.

The Importance of Investigating Consumer Disputes

The Importance of Investigating Consumer Disputes

Compliance March 6, 2014 at 11:37 am

It’s important for creditors to look into consumer disputes or complaints before furnishing credit history information to credit reporting agencies.

5 Strategies for Moving Down the Credit Spectrum

5 Strategies for Moving Down the Credit Spectrum

Best Practices, Guides February 13, 2014 at 6:19 pm

Maintaining share in this environment is particularly challenging for credit unions, which have historically stuck with prime and super-prime borrowers.