How New Lending Technology is Reshaping the Loan Origination Process

By leveraging modern technology, financial institutions have made daily interactions with their customers frictionless and effortless. But there are still high-volume banking activities where greater efficiencies can be achieved. In particular, new lending technology enabled by two key capabilities — cloud and automation — is reshaping loan origination. Cloud delivers the latest loan software capabilities […]

• defi SOLUTIONS
• August 15, 2018
• Sponsored

Dealers Prioritize Lender Communication, J.D. Power Survey Finds

As interest rates rise, dealer satisfaction with their lender partners is increasingly reliant on quick and meaningful communication with credit staff, according to the 2018 J.D. Power Dealer Financing Satisfaction Survey released this week. “Satisfaction declines by 163 points, on a 1,000-point scale, when dealers are not able to reach the credit staff,” Jim Houston, […]

• William Hoffman
• August 14, 2018
• Archives, Carousel, Credit Performance, Operations

Westlake Leads in Subprime ABS Volume With Third Securitization

Westlake Financial Services is one of the main drivers of new auto asset-backed securitization volume in the subprime space following its third securitization of 2018, Brian Ford, the chartered financial analyst of structured finance research at Kroll Bond Rating Agency, told Auto Finance News. The latest $1 billion deal pushes Westlake’s total volume to around $3 […]

• Nicole Casperson
• August 14, 2018
• Carousel, Credit Performance, Strategy

How Lenders Can Translate U.S. Practices to China’s Marketplace

Many lenders look to China and assume that if the country can achieve financing penetration rates north of 75% as the U.S. market enjoys, then it will quickly become the largest market in the world. But that’s not a realistic model for growth in China, Chas Roscow, an auto finance consultant, told Auto Finance News. […]

• William Hoffman
• August 14, 2018
• Archives, Asia, Carousel

Despite Strong Job Market, Slow Wage Growth Remains Challenge for Lenders

The economy is in a healthy place that has helped bolster consumer confidence, but an overlooked challenge for lenders is the lack of consumer income growth, Mark Vitner, senior economist and managing director for Wells Fargo Securities LLC, told Auto Finance News. “Income growth has been fairly sluggish,” Vitner said. “But, historically, the No. 1 […]

• Matthew Wood
• August 14, 2018
• Carousel, Credit Performance, Strategy

CFPB to Eliminate Military Lending Supervisory Exams Amid DoD Regulatory Changes

The White House is planning on revising Department of Defense (DoD) rules to more freely allow the sale of add-on products to military servicemembers at the same time that the Consumer Financial Protection Bureau prepares to scrap supervisory examinations of lenders in regards to violations of the Military Lending Act. The proposed changes were revealed […]

• William Hoffman
• August 13, 2018
• Carousel, Compliance

Cox Forms Mobility Group, Leverages Subscription Tech Provider

Cox Automotive is on the future of mobility as a service and unveiled Monday morning the development of a new division called Mobility Solutions Group. As consumer demand shifts from the desire of ownership to mobility, Cox Automotive sees the budding segment as a “massive business opportunity, with some estimates at well in excess of $1 […]

• Nicole Casperson
• August 13, 2018
• Carousel, Operations, Strategy, Technology

SunTrust Executive to Deliver Keynote Address at Women In Auto Finance Luncheon

Renee Franck, national credit manager of SunTrust Banks Inc., will give the keynote address at the Auto Finance Summit’s newest event, the Women in Auto Finance Luncheon. The luncheon will take place the first day of the summit, Wednesday, October 24 from noon to 2 p.m. at The Wynn, Las Vegas. By providing an exclusive […]

• Nicole Casperson
• August 13, 2018
• Carousel, Operations, Strategy