Auto Finance Excellence | Auto Finance News

SNAAC Reveals How a Customer-Centric Strategy Can Mitigate Losses

As delinquencies rise and an economic downturn looms, limiting credit risk and mitigating losses are top of mind for many auto financiers. “Delinquencies are up, losses are up, so what are we going to do to contain them?” Chris Mitcham, senior vice president of servicing at Security National Automotive Acceptance Co., asked the audience at the Auto Finance […]

CFPB Supervisory Highlights Provide Guidance on Deficiency Balances and Rebates

Under Richard Cordray’s Consumer Finance Protection Bureau (CFPB), it was “compliance malpractice” not to take heed of the Bureau’s enforcement actions when determining how to comply with federal consumer finance laws. Both Acting Director Mick Mulvaney and current CFPB Director Kathy Kraninger have stated that the Bureau will no longer engage in such “regulation by enforcement.” While this change in position is […]

How SNAAC, Turner Acceptance Are Tackling Tech Integration Challenges [Webinar]

As lenders advance in their digital transformations, integration hurdles are popping up with higher frequency. Lenders are being pressed to quickly diagnose problems, identify solutions, and secure buy-in across the organization to implement their plans efficiently. That’s the upshot from the latest webinar hosted by Auto Finance Excellence. Tune in to the complete recording of […]

‘Back-Loaded’ Auto Loans Threaten Small Lenders

PLANO, Texas — A form of fraud where dealer finance departments or banks “back-load” auto loans with disguised personal loans is gaining traction in the subprime auto space, Edward Kramer, senior advisor at Asurity Technologies, said at the Nonprime Auto Finance Conference last week. Smaller subprime lending operations might be ill-equipped to deal with this […]

Arkansas Enacts Guaranteed Asset Protection Waiver Act

Last month, the Arkansas legislature passed House Bill 1672 to enact a statutory framework within which guaranteed asset protection (GAP) waivers may be offered in the state. Previously, GAP waivers were largely unregulated in Arkansas. As a result, creditors will need to familiarize themselves with the new law and ensure they take the necessary steps […]

2 Critical Strategies to Cultivate Innovation

As the auto finance industry continues to migrate into the digital landscape, lenders are feeling the pressure to create a culture of innovation to stay ahead of the curve. How can lenders implement that mandate? Tricolor Auto President and Chief Operating Officer Don Goin and CarFinance Chief Technology Officer Doug Nottage tackled this conundrum at […]

Five Questions With… Kyle Birch of GM Financial

Five Questions With is a monthly Q&A segment on AutoFinanceExcellence.org that offers a glimpse of what senior industry executives are thinking about outside the boardroom. Read on to find out. As the Chief Operating Officer of GM Financial, Kyle Birch leads all origination channels and servicing in North America for General Motor’s captive finance arm. That level of responsibility […]

Sharpening Decisions With Alternative Data [Podcast]

Auto lenders are increasingly relying on nontraditional data as they hone underwriting to gain a competitive edge. Alternative data can open the door to unbanked and under-banked consumers, enabling lenders to extend beyond their typical customer base without assuming too much risk. “[Lenders] have to broaden their mind to incorporate alternative data,” Chuck Berend, senior […]
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