Articles by: Natalie Mattila

Loan Approval Rates Remain Unchanged, Poll Reveals

Loan Approval Rates Remain Unchanged, Poll Reveals

Operations November 13, 2017 at 10:54 am

LAS VEGAS — Many lenders agreed that loan approval rates over the past 12 months “remained basically unchanged,” according to a poll conducted at the 2017 Auto Finance Summit late last month. Out of all attendee respondents, 53% said approval rates remain unchanged, trailed by 25% of respondents who said loan approval ratesRead More

Lenders Expect 2018 Volume Growth to Stem From New Products

Lenders Expect 2018 Volume Growth to Stem From New Products

Operations November 6, 2017 at 11:46 am

LAS VEGAS — Many auto lenders expect to find financing growth through new products or services in 2018, according to a poll conducted at the 2017 Auto Finance Summit late last month. Out of all attendee respondents, 36% said new products and services is where they expect to find growth,Read More

Approvals Rise as Funding Rates Worsen, Exclusive Survey Reveals

Approvals Rise as Funding Rates Worsen, Exclusive Survey Reveals

Best Practices, Compliance, Management, Operations, Risk November 1, 2017 at 12:53 pm

Although overall approval rates are higher this year, application funding rates for subprime credit have fallen, according to a recent best practices survey conducted by The Center for Auto Finance Excellence. Meanwhile, delinquency and loss rates have worsened — particularly on subprime — and lenders are still spending more, specificallyRead More

Security Service Adjusts Underwriting to Optimize Success [PODCAST]

Security Service Adjusts Underwriting to Optimize Success [PODCAST]

Best Practices, Management, Operations, Podcast, Risk October 30, 2017 at 10:52 am

Security Service Federal Credit Union attributes its No. 1 overall ranking in the 2017 Auto Finance Performance report to managing success by focusing on dealer and member service, and not by trying to gain marketshare, said the credit union’s Executive Vice President and Chief Lending Officer Charles Goss. “What weRead More

Troubled Waters: Hurricanes Strain Vehicle Inventory, Boost Used Values

Troubled Waters: Hurricanes Strain Vehicle Inventory, Boost Used Values

Management, Operations, Risk October 23, 2017 at 11:26 am

In the wake of the recent hurricanes — Harvey in Texas and Irma in Florida — the industry is beginning to recover, with an uptick in sales and a boost in used-car values on the horizon. “On the volume impact, we expect Harvey and Irma to [negatively] impact volume inRead More

Fair Aims to Transform Car Ownership [VIDEO]

Fair Aims to Transform Car Ownership [VIDEO]

Operations, Payments, Sales & Marketing October 13, 2017 at 11:52 am

Used-car leasing app Fair launched last month, which the founders are calling an “iTunes account for your car” offering an all-in-one monthly payment model. And just a few weeks ago, the startup released a demo video showcasing its innovative business model. In short, Fair is buying used cars from dealerships andRead More

Consumers Show Increased Appetite for ‘Cheap Finance,’ Report Finds

Consumers Show Increased Appetite for ‘Cheap Finance,’ Report Finds

Best Practices, Operations October 10, 2017 at 11:15 am

Since the downturn, the combination of attractive lease deals, pent-up consumer demand, and easy credit availability have pushed sales higher, according to an industry report by White Clarke Group released last week. Light-vehicle sales in the U.S. have delivered seven consecutive annual gains since the financial crash — marking theRead More

Best Practices Survey: We Want to Hear From You

Best Practices Survey: We Want to Hear From You

Today is the last day to participate in the Center for Auto Finance Excellence’s best practices survey — and to be entered into a drawing to win a a $50 Amazon gift card. The Center is constantly working to enhance its relevance and service to you and the industry. As an important part ofRead More

Best Practices Survey: We Want to Hear From You

Best Practices Survey: We Want to Hear From You

Best Practices, Compliance, HR, IT, Management, Operations, Risk, Sales & Marketing September 19, 2017 at 11:02 am

The Center for Auto Finance Excellence is constantly working to enhance its relevance and service to you and the industry. As an important part of the auto finance community, we are coming to our members for best practice insights.Please take a moment to complete this short survey, which will offer valuableRead More