Lendbuzz tightens credit, narrows target segments
AI-based auto lender Lendbuzz has tightened its credit standards and pulled out of certain credit segments in an effort to ...
Tag: credit underwriting
Bank of America to upgrade client communication in digital app
Bank of America is looking to upgrade its client communications after auto loans are approved as the bank continues to ...
CFPB tees up investigations of AI-based underwriting, adverse action notices
The Consumer Financial Protection Bureau is putting artificial intelligence-based (AI) underwriting models under the regulatory microscope as more lenders and ...
What AI and machine learning mean for auto lending technology
Automotive lenders find themselves in a more competitive market than ever. Lingering supply chain issues generated by the COVID-19 pandemic ...
Auto credit access improved in December, remains tighter YoY
Strong used-vehicle values and better than expected loan performance led to improved credit availability for auto loans in December. Credit ...
Subprime lending share nears Great Recession lows
Subprime financing segments declined to near-record lows in the third quarter on the heels of tightened underwriting standards due to ...
Social media: New underwriting tool?
Auto lenders can use social media to identify the credit risk of borrowers with limited credit histories, but must be ...
Carvana maintains tighter underwriting
Carvana is “continuing to maintain significantly tighter” underwriting standards than before the pandemic, Chief Executive Ernie Garcia III said during ...
