Post Tagged with: "TransUnion"

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Growth of Synthetic Identity Fraud Slows in 2017

Risk March 8, 2018 at 11:52 am

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 toRead More

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

Risk December 20, 2017 at 10:45 am

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 rollerRead More

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Loan Balance Growth Rates Slow as Lenders Tighten Underwriting

Operations, Payments, Risk November 27, 2017 at 11:00 am

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 theRead More

Part II: Alternative Data Drives Auto Lending Growth

Part II: Alternative Data Drives Auto Lending Growth

Best Practices, IT, Operations, Risk November 17, 2017 at 10:00 am

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 commentRead More

Millennial Appetite for Auto Loans Outpaces Gen-X at Same Age

Millennial Appetite for Auto Loans Outpaces Gen-X at Same Age

Operations, Payments, Sales & Marketing August 31, 2017 at 2:00 pm

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 inRead More

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CREDIT: Delinquencies Rise, Lenders Tighten Credit

Operations, Risk April 12, 2017 at 12:54 pm

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 againRead More

CREDIT: Increase in Loans, Increase in Subprime

CREDIT: Increase in Loans, Increase in Subprime

Operations, Risk February 23, 2016 at 1:47 pm

More consumers have chosen to finance their vehicles, while lenders have dug deeper into subprime space, experts suggest. Subprime Overall, 75.6 million consumers had an auto loan in the fourth quarter 2015, according to TransUnion. The number is up 7.8% year over year – the largest YoY increase since theRead More

CREDIT: Subprime Inches Up as Delinquencies Remain ‘Under Control’

CREDIT: Subprime Inches Up as Delinquencies Remain ‘Under Control’

Compliance, Operations, Risk, Sales & Marketing, Uncategorized August 26, 2015 at 8:26 pm

Auto loan delinquencies are “under control,” despite a continued rise in subprime lending, while recent concern about a so-called subprime “bubble” slowly deflates. That’s the upshot of auto finance credit performance today, analysts said. Subprime Continues to Rise Subprime or nonprime loans, as a percent of all lending, are atRead More

The Warning Against ‘Aggressive’ Underwriting Goes Alternative

The Warning Against ‘Aggressive’ Underwriting Goes Alternative

Compliance, Management, Operations, Risk April 17, 2015 at 12:51 pm

Times are good for lenders, but will an interest rate hike, expected later this year, or an economic downturn, end the party? Not if lenders stick to a solid foundation of smart underwriting. That was the message at the LendItUSA conference, a gathering of the alternative lending community that drewRead More