Articles by: Natalie Mattila

Negative Equity Trade-Ins Spike to Record High, Where Do Lenders Draw the Line?

Negative Equity Trade-Ins Spike to Record High, Where Do Lenders Draw the Line?

Spurred by extending loan terms, a record-number of consumers — 31% — turned in cars with negative equity in 2016, in order to get their next vehicle, according to data from Edmunds.com. This trend, and longer-term loans, are not expected to reverse anytime soon, Greg McBride, chief analyst at Bankrate.com,Read More

Sharing Secrets — Roadblocks to Creating a Dealer Fraud Detection Network

Sharing Secrets — Roadblocks to Creating a Dealer Fraud Detection Network

With dealer fraud reaching “higher than normal” levels for Pelican Auto Finance LLC, the subprime lender has been looking to develop a lender network to share dealer fraud insights, said Troy Cavallaro, the company’s chief executive. However, the company has been “unable to move the needle” on the project dueRead More

Innovate Auto Finance: Lenders Need to Balance Their Ground Forces With Data

Innovate Auto Finance: Lenders Need to Balance Their Ground Forces With Data

LAS VEGAS — As the auto finance industry evolves — and as data becomes more refined and easier to use — it’s important for lenders to consider input from their consumer-facing staff, versus relying solely on data and analytics when making business decisions, said Scott France, vice president of Innovate Auto FinanceRead More

Harness Startup’s Tech — A Game Winning Strategy for Lenders

Harness Startup’s Tech — A Game Winning Strategy for Lenders

With the auto finance industry evolving rapidly — particularly as startups and fintech companies attempt to disrupt the space — it can be difficult for some lenders to keep up to speed with changing technology trends, said Chris Ballinger, chief financial officer and global chief officer of strategic innovation atRead More

Lenders Seek Balance When Investing in Innovation

Lenders Seek Balance When Investing in Innovation

It’s no secret that being first to market when investing in innovation can offer a competitive edge, but lenders must be prepared for the complications that come with investing in unproven technology. However, those that don’t lead the charge, risk being too late to the punch — so where isRead More

3 Actions Lenders Can Take to Improve the CMS

3 Actions Lenders Can Take to Improve the CMS

There are many “tangible activities” that can be done to maintain the compliance management system and improve the framework, said Mike Lavin, executive vice president and chief legal officer at Consumer Portfolio Services Inc. Lenders preparing for regulation and eventual exams by the Consumer Financial Protection Bureau need to make maintaining their CMS a top priority,Read More

Online Compliance Training Needs More Engagement

Online Compliance Training Needs More Engagement

Web-based courses are “not enough” to get the compliance training job done — that was the resounding similar outlook on compliance training among speakers at the Auto Finance Risk & Compliance Summit last month. “It’s a good starting point, but you’ve got to build the other pieces” to be ableRead More