CREDIT: Delinquencies Rise, Lenders Tighten Credit

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 again this past year,” S&P wrote […]
  • Cody Lyon
  • April 12, 2017
  • 0

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

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. “I think, holistically, from the […]
  • Cody Lyon
  • March 23, 2017
  • 2

The Four Stages of a CFPB Exam

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.
  • Cody Lyon
  • November 11, 2014
  • 0

Keeping An Eye On Vendors Must Be a Priority

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.
  • Cody Lyon
  • November 4, 2014
  • 0

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

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.
  • Cody Lyon
  • October 13, 2014
  • 0

8 Facts About Nonprime That You Need to Know

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 corner of the auto finance business: […]
  • Cody Lyon
  • September 8, 2014
  • 0

Air, Light and Chairs Can Impact Productivity

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 and allow for optimum interaction between […]
  • Cody Lyon
  • September 4, 2014
  • 0
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