Has Auto Loan Fraud Replaced Car Theft in America?

How Artificial Intelligence and Fraud Strategies Can Stem the Rising Tide of Fraud When it comes to auto theft, our cars are safer and more protected than ever. Investments by manufacturers to deter theft with engine immobilizers, LoJack, keyless entry, and other advancements have worked. In fact, the cars most commonly stolen today are older models […]
  • Frank McKenna
  • August 17, 2018
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Best Practices in Loan Servicing Detailed by Ally, Hyundai Capital, First Associates

The administrative aspects of servicing the life cycle of a loan from origination until pay off has become an industry in and of itself. Banks, captives, and primary loan servicers, all must pay special attention to how they are collecting principal and interest on the loan well after the borrower leaves the dealership. It is also […]
  • Nicole Casperson
  • August 15, 2018
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If Vehicle Subscriptions Are the Next Big Wave, What Happens When Subscribers Stop Paying?

The rise of vehicle subscription services is being hailed as a boon for commitment-phobic Americans — millennials in particular — who want a vehicle without the burden of ownership. Yet for “thin” credit bureau files — near prime and subprime consumers — the subscription model offers more than a lifestyle upgrade, it can provide a […]
  • Brandy Bissett and Jeff Hanna
  • August 13, 2018
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Defining the Job of BCFP Director

Since I last wrote for Auto Finance Excellence, the Senate held a hearing for Kathleen Kraninger, the White House’s nominee to be the new director of the Bureau of Consumer Financial Protection. For someone as unknown as she is in the financial services community, the consensus seems to be that she held her own in […]
  • Michael Benoit
  • August 9, 2018
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MOBI’s CEO Shares How to Make Blockchain a Reality

Manufacturers and their captive finance companies are facing disruptive technology trends that are impossible to ignore — and the emergence of blockchain is one. But, to make blockchain a reality, companies need to stop racing towards innovation and start with a community. “Maybe it isn’t so much about the tech, it’s really about the ecosystem,” […]
  • Nicole Casperson
  • August 8, 2018
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Auto Finance Excellence Relaunches as a New Community for Industry Professionals

Auto Finance Excellence today relaunched as a comprehensive online community and industry resource for best practices and advice for auto lending and leasing professionals. At the new Auto Finance Excellence (www.autofinanceexcellence.org), formerly known as the Center for Auto Finance Excellence industry executives will find insights, ideas, and innovation on the practice of auto finance. The […]
  • Nicole Casperson
  • August 6, 2018
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Mitsubishi’s Involvement in Alliance Drives Profitability for OEMs, Lenders

Mitsubishi Motors North America is in a “strong” position to deliver improved profitability, more appealing products, and advanced technologies, thanks to its participation in the Renault Nissan Mitsubishi alliance, newly appointed Chief Operating Officer Mark Chaffin told Auto Finance News. Last month, the alliance reported a 14% increase in annualized “synergies” — the result of […]
  • Nicole Casperson
  • August 3, 2018
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Westlake Details Benefits of Vendor Partnerships

Lenders can cut operational costs by partnering with third-party vendors and allowing them minor involvement in specialized services without diverting focus from a lender’s core business, Paul Kerwin, chief financial officer of Westlake Financial Services, told Auto Finance Excellence. Third-party vendors create a mutually beneficial relationship. Lenders reduce operation costs and better optimizes services that […]
  • Nicole Casperson
  • August 1, 2018
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Ten Years Later: CFPB, the Financial Crisis, What Have We Learned?

I know it’s hard to put an exact date at the beginning of the financial crisis but think most “scholars” would agree things started going south rapidly in the Fall of 2008. A celebratory feeling at this approximately 10-year anniversary mark is likely a stretch, but it’s worth acknowledging what happened, how to prevent or […]
  • Samuel Ellis
  • July 30, 2018
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