Subprime lenders tighten income, LTV requirements
On the Road Lending, Sun East FCU changed credit criterion to manage risk
Inflation, deteriorating credit performance and worsening affordability have prompted subprime auto lenders to tighten lending requirements to better manage risk. Irving, Texas-based On the Road Lending, a nonprofit subprime auto lender whose clients typically have FICO scores in the low 500s, made several underwriting changes following the onset of the pandemic, President Lonnie Smith told […]
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