5 success strategies for consumer lenders in 2020

Investors love growth, and as we approach the longest sustained period of growth in the history of the United States, the business climate has been almost unprecedented. The Dow Jones Industrial Average is hovering around record highs and unemployment is at its lowest level in nearly two decades. These robust economic conditions have supported and […]
  • Daniel Chu
  • August 29, 2019
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An inside look at 2 new credit scoring models

Ever since the concept of loaning money was conceived, lenders have been trying to find the ideal way to predict who will pay them back and who will default. Over time, methods for evaluating the likelihood of borrower repayment progressed from individual human judgment calls to more objective credit bureaus and reports. In the 1950s, […]
  • Mark Baltuska
  • July 18, 2019
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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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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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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
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Loan Balance Growth Rates Slow as Lenders Tighten Underwriting

Industry-wide outstanding auto loan balances increased 5.9% in the third quarter, from the same time a year prior — marking the lowest year-over-year growth rate since the second quarter of 2012, according to TransUnion’s latest consumer finance trends webinar. “While nonprime consumers continue to have access to credit in the auto market, their balance growth […]
  • Natalie Mattila
  • November 27, 2017
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Part II: Alternative Data Drives Auto Lending Growth

Despite the potential benefits of alternative data, privacy concerns linger about how the data is collected and shared with lenders. Earlier this year, the Consumer Financial Protection Bureau (CFPB) announced that it is looking into privacy and security concerns surrounding the growing acceptance of alternative data and sought public comment on both issues. The CFPB’s […]
  • Debbie Hoffman
  • November 17, 2017
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Millennial Appetite for Auto Loans Outpaces Gen-X at Same Age

Millennials’ appetite for auto loans has grown at a faster rate than Gen-X borrowers at the same age points, according to a study released yesterday by TransUnion. Millennials — who have as much as 24% of the purchasing power in the United States — are different than other generations in terms of their auto purchasing […]
  • Jennifer Ruther
  • August 31, 2017
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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
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