Articles by: Natalie Mattila

Can Stock Photo / jirkaejc

Nicholas Financial Gears Up for Return to ‘Disciplined’ Subprime Underwriting

Best Practices, Management, Risk March 26, 2018 at 10:00 am

Amid a 41% year-over-year decline in originations during the fourth quarter of 2017, Nicholas Financial hopes to get “back to the basics” and reestablish its presence in the deep-subprime market, new Chief Executive Doug Marohn told Auto Finance News. “Nicholas is a lot of things, and Nicholas has enjoyed aRead More

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New Car Loan Interest Rates Dip to Lowest Point in 3 Years, WalletHub Finds

Risk February 14, 2018 at 11:51 am

Average interest rates on new-car loans are 14% lower than interest rates on average used-car loans, according to WalletHub’s first-quarter Auto Financing Report released today. “Interest rates for new cars are at one of their lowest points in the past three years,” according to the report. However, at the same time,Read More

AutoGravity to Add Security Features to Auto Loan App, CTO Says [PODCAST]

AutoGravity to Add Security Features to Auto Loan App, CTO Says [PODCAST]

Best Practices, IT, Operations, Podcast January 23, 2018 at 11:04 am

AutoGravity is prioritizing the implementation of new security features for its mobile app as part of its digital roadmap this year, in addition to exploring uses for biometrics, the company’s new Chief Technology Officer Sheng Wang said during episode 6 of The Roadmap. One of the natural “blocking points” inRead More

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11 Executives Offer Predictions for 2018

IT, Operations December 28, 2017 at 9:00 am

From the expansion of mobility services to technology enhancements and continued depreciation of used-car values, a lot has been stirring in the auto finance space this year. And even more change is anticipated next year, according to some executives in the auto finance sector. Auto Finance News asked eleven executives,Read More

Alternative Deal Structures Gain Ground [PODCAST]

Alternative Deal Structures Gain Ground [PODCAST]

Best Practices, IT, Podcast, Risk December 21, 2017 at 10:08 am

Alternative deal structures — in which lenders can offer potential borrowers with multiple finance options in response to a single credit request — are becoming more prominent as borrowers continue to seek instant credit decisions, said Scott Hendriks, director of product management for auto originations at Fiserv. “There are manyRead More

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Why Dealers Should Embrace Digital Disruption Amid Millennials’ Mobile-Only Mindset

Best Practices, Operations December 11, 2017 at 11:28 am

Only 17 out of 4,002 consumers prefer the current car-buying process, and as these “smartphone-wielding consumers” continue to embrace today’s digital world, this disconnect will begin to find its way to the bottom line, according to a recent whitepaper from used-car leasing app Fair. “No matter their stellar customer serviceRead More

CFPB Actions Expected to Slow Amid Leadership Change [PODCAST]

CFPB Actions Expected to Slow Amid Leadership Change [PODCAST]

Best Practices, Compliance, Podcast November 29, 2017 at 11:45 am

The Consumer Financial Protection Bureau is not expected to be in a “holding pattern” in the long term, following the acting director leadership showdown, said Lucy Morris, partner in the Washington, D.C., office of Hudson Cook LLC. “I don’t think things will stop, but I do think there will beRead More

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Loan Balance Growth Rates Slow as Lenders Tighten Underwriting

Operations, Payments, Risk November 27, 2017 at 11:00 am

Industry-wide outstanding auto loan balances increased 5.9% in the third quarter, from the same time a year prior — marking the lowest year-over-year growth rate since the second quarter of 2012, according to TransUnion’s latest consumer finance trends webinar. “While nonprime consumers continue to have access to credit in theRead More

From left, Jeff Danford, SVP of Auto Finance at Ally Financial; David Hollodick, SVP, Product and Pricing Executive Consumer Vehicle Lending at Bank of America; and
Chas Roscow, Director, Vehicle Lending at State Farm Bank, discuss direct lending trends in a panel discussion at the 2017 Auto Finance Summit.

Lenders to Boost Investment in Direct Lending, Mobile Apps in 2018

IT, Operations November 22, 2017 at 11:06 am

LAS VEGAS — Many auto lenders plan to increase their investment in direct lending and mobile applications in 2018, according to a poll conducted at the 2017 Auto Finance Summit. Out of all attendee respondents, 35% said direct lending is where they will increase their digital technology investment/spending the most nextRead More