Equifax | Auto Finance News | Auto Finance News

Lenders dip down credit spectrum, boost originations in 2Q

As auto lenders opened their books of business to borrowers further down the credit spectrum, total auto debt increased 4.8% year over year to a record $1.3 trillion, according to the New York Federal Reserve Quarterly Report on Household Debt and Credit.  The report, which uses data from Equifax, showed that auto debt from loans […]

CFPB, FTC fine Equifax $700M for data breach

Equifax has been ordered to shell out $700 million in fines and financial relief after 147 million consumer identities were compromised in a data breach nearly two years ago. A global settlement was announced today in a proposal filed by the Consumer Financial Protection Bureau, Federal Trade Commission, and 48 states, the District of Columbia […]

An inside look at 2 new credit scoring models

Ever since the concept of loaning money was conceived, lenders have been trying to find the ideal way to predict who will pay them back and who will default. Over time, methods for evaluating the likelihood of borrower repayment progressed from individual human judgment calls to more objective credit bureaus and reports. Today, scores often […]

Loan Performance Worsens Despite Higher Prime Originations, N.Y. Fed Says

Despite the increasing share of prime auto loans originated last year, new research from the N.Y. Federal Reserve, with credit data from Equifax, shows overall performance of auto loans is steadily worsening. Cox Automotive Chief Economist Jonathan Smoke said the decline is due to a bifurcated market, with growth in super-prime and subprime. “We have […]

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 […]

2019 Survival Guide: How Lenders Are Planning for the Year Ahead

From the January issue: 2018 was a strong year for auto finance as delinquency rates dropped, the economy grew, and consumer demand remained high. However, the new year finds lenders and analysts bracing for an economic slowdown. But that’s not the only worry. New-car purchases are lagging, according to Manheim’s November data, which has new-vehicle sales […]
Page 1 of 712345 » ...Last »