Average monthly new-vehicle loan payment hits $761 in June
Consumers are slowing purchases and auto lenders are tightening credit standards as auto loan delinquencies and monthly payments continue to ...
Tag: Equifax
Nonprime auto lenders’ average funding times fall
PLANO, Texas — Nonprime auto lenders are prioritizing efficiency and digital contracting to speed funding. Of at least 20 lenders ...
Industrywide auto originations dip 1.5% year over year
Auto originations dipped industrywide, contributing to a slowdown in non-revolving consumer debt even as overall debt climbed through October. Auto ...
Fintech originations up 12.4% to $454M
Fintechs picked up auto origination volume but continue to represent a small share of the market as industrywide loan and ...
Early payment default rates double on kicked deals
Early payment defaults escalate auto fraud risk, which doubles when a loan rejected by one lender is later funded by ...
Increased account reviews crucial amid DQ rise
Auto lenders should review their borrower accounts more often to offset the risk of rising delinquencies as consumers face inflationary ...
Equifax completes credit database cloud migration
Consumer credit reporting agency Equifax finished migrating its credit database to the cloud in mid-January as part of a five-year, ...
Equifax says consumer credit scores changed in computer error
Equifax Inc. said some consumer credit scores were changed because of a computer error that has since been rectified. A ...
