Effective AI-based models must fit lender goals
Lenders have been quick to implement AI and machine learning models to grow their business — sometimes too quick. . ...
Manheim Used Vehicle Index falls 12.1%
Wholesale used-vehicle values declined month over month and year over year in May, but used-vehicle sales inched up sequentially. ...
Axis Auto homeowner loan apps up 47% as credit tightens
Homeowners pose an opportunity for auto lenders in the Canadian market as tightened credit standards and high interest rates limit ...
Insurance costs burden nonprime borrowers
FORT WORTH, Texas — Rising insurance costs are burdening consumers, making it more difficult for borrowers to keep current on their auto ...
Strong US payrolls and wage growth push back bets for Fed cuts
US job growth surged in May and wages accelerated, prompting traders to push back the expected timing of Federal Reserve ...
Under the Hood: Fintech investments top $1B
Venture capitalists have pumped $1 billion of capital into auto fintechs through May, nearly double last year’s investment pace, according ...
Rise in leasing poses higher costs for lenders
FORT WORTH, Texas — Leasing volume has steadily increased, which could lead to higher costs for lenders. Leases can sometimes ...
Compliance critical as regulators scrutinize auto pricing policies
Increased scrutiny of pricing and underwriting practices means auto lenders should closely review their portfolios, underwriting habits and pricing policies ...
