Risk | Auto Finance News - Part 3

Nicholas Financial to Improve Underwriting Amid Earnings Drop

Subprime lender Nicholas Financial Inc. suffered losses in 2018 as a result of legacy portfolios with “difficult pools in terms of underwriting quality” from purchases made in previous years, Chief Executive Doug Marohn said in an earnings statement earlier this month. Clearwater, Fla.-based Nicholas lost $900,000 for the quarter ended Dec. 31, 2018, and originations […]

Santander Uses AI to Triage Cybersecurity Threats

Difficulty pinpointing the source of a data breach is often to blame for the lag between perpetration and detection of fraud, said Santander Consumer USA Chief Information Security Officer Harold Gonzales at AFSA’s Vehicle Finance Conference. “It’s not like we have a dashboard and one big red light goes off and we all chase after […]

Call for Speakers: AFN Scouts Speakers for Auto Finance Risk Summit

The Auto Finance Risk Summit — the established industry event for education and networking focused on best practices in risk management — is searching for senior leaders in auto finance to join the speaker roster. Help shape our agenda for the 12th annual Auto Finance Risk Summit to be held at the Omni San Diego on May […]
  • Nicole Casperson
  • February 13, 2019
  • Risk

Used-Vehicle Depreciation Forecasted for Spring 2019

Used-vehicle values are likely to depreciate 15% by yearend, compared with the 12.4% total depreciation seen in 2018, Black Book's Executive Vice President of Operations, Anil Goyal, told Auto Finance News. “We had a great year last year in terms of used vehicle value retention, and it’s highly unlikely it’ll repeat itself this year,” Goyal […]

Biometrics, Behavior Trends Shield Lenders From Online Fraud, Experian Says

As financing moves increasingly onto the digital stage, one fraud expert urged auto lenders to leverage more data and analytics beyond the common credit data and ID verification tactics used today. Experian’s Senior Fraud Solutions Consultant Chris Ryan said auto lenders are particularly vulnerable to the use of synthetic identities, which he noted is on […]

Credit Acceptance 2018 Profits Accelerate Despite State AG Investigations

Net income at Credit Acceptance Corp. shot up 20% year over year to $574 million in 2018 despite ongoing investigations by two state attorneys general. The lender filed a disclosure with the SEC last week meant to "provide an update on two state matters" that are related to investigations by Massachusetts and Mississippi state attorneys […]

Fed Won’t Tap Brakes Until It’s Ready for a Recession

Federal Reserve watchers have spent the better part of a decade arguing about what policy normalization should look like. Last week, in response to events over the past few months, the Fed declared monetary policy more or less normalized. With the Fed seemingly out of the picture for the time being, if the economy cooperates, […]

Fed’s Dovish Pivot Flattens Remaining Rate-Hike Expectations

Chairman Jerome Powell signaled the Federal Reserve won’t raise interest rates again until inflation accelerates in a dovish pivot that left many investors betting against any further hikes in this economic expansion. Not only did central bankers drop a reference to “further gradual increases” in their statement on Wednesday, they implied the next move could […]
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