3 Reasons Lenders Should Promote Refis

As lenders pull back from the subprime space competition for prime credit is getting ultra-competitive, and lenders are going to have to think creatively to attract customers, said Brian Landau, senior vice president and automotive business leader at TransUnion. “There’s more competition now and less demand,” Landau said. “It causes some challenges for the incumbents […]
  • William Hoffman
  • August 24, 2018
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5 Payment Technology Trends Shaping Auto Finance

Lenders focus a lot of their attention on making sure the initial sales experience is fast, effortless, and intuitive for consumers, but is the same attention being given to how consumers make those payments once they leave the dealership? Payment technologies have changed a lot even in just the past two years. Anyone who lives […]
  • William Hoffman
  • June 27, 2018
  • 0

Consumers Are Willing to Put More Down, If They’re Given a Choice

Consumers shopping for an auto loan predictably care most about their interest rate and monthly payment, according to a FICO study, but this suggests lenders can provide more options for down payment and loan term to optimize the customer experience.    Americans cared most about interest rate with 94% of respondents marking it as an […]
  • William Hoffman
  • June 6, 2018
  • 0

Lenders Will Require Larger Down Payments as Underwriting Tightens

Dealers and lenders have a lot of tricks at their disposal to keep monthly rates affordable for consumers. If the monthly bill is too high, just extend the term. If it’s still too high, perhaps the consumer would consider a certified pre-owned vehicle off-lease. If a new car is non-negotiable, there’s leasing. Or perhaps the […]
  • William Hoffman
  • April 6, 2018
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Growth of Synthetic Identity Fraud Slows in 2017

Synthetic identity fraud grew in the fourth quarter on a year over year basis, but artificial intelligence is helping to slow the pace of growth, according to a report from TransUnion. Synthetic fraud balances rose 5.2% in the fourth quarter compared with the same period the year prior, according to the report. Such balances rose […]
  • William Hoffman
  • March 8, 2018
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How ABS Credit Enhancements Are Masking Subprime Risk [PODCAST]

Multiple subprime auto securitizers are coming to the market with lower average Fico scores, longer terms, and higher loan-to-value ratios than their previous issuances. Yet, these deals are being rewarded with higher ratings. Joseph Cioffi, a partner at Davis & Gilbert LLP, has identified a fair amount of risk in this pattern and joined the […]
  • William Hoffman
  • February 26, 2018
  • 3

Delinquencies to Rise at a Slower Clip in 2018, TransUnion Says

Serious delinquencies — loans 60 days or more past due — are expected to increase at a slower pace than in recent years, as TransUnion is predicting a three-basis-point rise by yearend 2018, compared with where the rate is now. The industry delinquency rate is looking to have a roller coaster year in 2018 as […]
  • William Hoffman
  • December 20, 2017
  • 2

Credit Erosion: Cracks Are Starting to Show in Subprime Auto

Fitch Ratings reported subprime delinquencies hit a 20-year high in March, and some of the smaller lenders in the space have cut back on originations, stopped issuing securitizations, or shuttered their doors completely, multiple sources told Auto Finance News. The number of new players entering the space has “slowed down,” Nathan Benson, chief executive of […]
  • William Hoffman
  • April 21, 2017
  • 0

New Webinar Explores How to Boost Dealer Relations

Auto lender Flagship Credit Acceptance, and loan portfolio buyer Innovate Auto Finance detailed the kinds of technologies they use to connect with dealers for a webinar entitled: Deepening Dealer Relationships: How lenders can win business in a time of increased competition? The webinar is the the first of a four-part series to be presented by the […]
  • William Hoffman
  • March 24, 2017
  • 0
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