Alternative Data | Auto Finance News | Auto Finance News

Capitalizing on today’s tech

Technology may provide the best competitive advantage to lenders in the current economic climate. With fintechs, lenders can accelerate the loan origination process — smoothing underwriting, improving decision quality and continually identifying opportunities for greater efficiency. When choosing modern technologies, lenders must assess the benefit of hosted or on-premise solutions and determine which works for […]

CPS increases capture rates with alternative data

Consumer Portfolio Services is experiencing higher capture rates as a result of a new scorecard that was implemented last year, Senior Vice President of Risk Management Chris Terry told Auto Finance News.  Nine months post-implementation, “CPS is seeing the results without negatively impacting our pricing,” Terry said. The difference between CPS’s new consumer-focused scorecard versus […]

Fraud analytics, alt-data reduce risk for nonprime lenders

The ability to identify risk as early as possible in the loan origination process can improve portfolio performance, and lenders focused on nonprime segments have better resources than ever before to reduce loan risk. Early identification of high-risk borrowers can reduce or potentially eliminate defaults. Fraud analytics and alternative credit data — which provides a […]

LOS Provider Launcher Solutions Adds Alt Data From LexisNexis

Technology startup Launcher Solutions inked a deal last week to integrate alternative data from LexisNexis Risk Solutions into its loan-origination system geared for subprime lenders. Alternative data plays a significant role in auto loan underwriting, especially in the subprime sector where credit bureau profiles may be thin, Launcher Solutions President Nikh Nath told Auto Finance […]

Are Auto Lenders Overlooking Creditworthy Consumers?

The past 10 years generated a lot of change in the consumer credit industry. Repercussions of the financial crisis, new regulations, and expanding sources of credit such as marketplace lending, have left many creditworthy individuals underrepresented or misrepresented by traditional scoring models. Conventional scores offer only a partial view of consumer behavior and its associated […]
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