Credit Performance | Auto Finance News - Part 4

Banking Hurtles Toward Ethically Dubious Credit Decisioning

The paramount technology objective today in banking is the implementation of artificial intelligence to enhance customer experience, products and, in turn, financial results, for both consumers and financial institutions. As artificial intelligence and its compatriot technology, machine-learning algorithms, take a more prominent role in financial services, the ethical challenges posed by these technologies advance. The […]

Auto Finance Accelerate 2019 Unveils Slate of Speakers From Chase Auto, Ally, Hyundai Capital

Auto Finance News is proud to welcome a slate of diverse speakers to this year’s spring event, Auto Finance Accelerate 2019, to be held May 13-16 at the Omni San Diego. The speaker faculty is quickly expanding with the addition of several top captives and banks. Chase Auto’s Chief Marketing Officer Melinda Welsh will kick off […]

Why the Auto Finance Industry Needs a Greater Focus on Digital Sales & Marketing

Most sales and marketing job ads go something like this: As an Inside Sales Relationship Manager, you will be contacting Auto Dealerships to sign up with AUTO FINANCE COMPANY NAME HERE as one of their sub-prime lenders. … The expectations for the first year at this job is to be making $60k – $100k per […]

Appetite for Higher Yields Spurs Scorecard Revamp at CPS

A scorecard adjustment will be a top priority for Consumer Portfolio Services this year, after modifications adopted in August 2018 resulted in customers whose credit was better than expected, Chief Executive Charles Bradley Jr. told Auto Finance News. The recent scorecard refinement pushed the lender’s portfolio mix up the credit spectrum — farther “than we even wanted,” Bradley said. Whereas […]

Credit Unions Gain Share With Bigger Risk Appetites, Dealers Say

From the February issue: Credit unions have been grabbing marketshare by dipping into lower credit scores and making more exceptions, a sampling of dealers nationwide told Auto Finance News. As a result, larger banks and other financial lending institutions are missing out on potential borrowers, dealers said. Lower Valley Credit Union and Numerica Credit Union […]

Borrowers Granted Extensions Four Times More Likely to Repay Loans, KBRA Finds

Despite Honor Finance’s previous unorthodox loan extension practices, new research by Kroll Bond Rating Agency maintains that loan extensions remain a viable loss-mitigation tool for securitization servicers. "In moderation, extensions are a very useful tool — they maximize cash flow to the ABS trust," Brian Ford, senior director of structured finance research at KBRA, told Auto […]
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