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On The Radar: Lenders Eye 3 States Set to Intensify Oversight

From the March issue: Despite the regulatory sigh of relief provided last year by the rollback of the 2010 Dodd-Frank Act, stricter state regulations have auto lenders holding their breath. On the heels of a February 2018 call by Mick Mulvaney, former acting director of the Consumer Financial Protection Bureau, to let states more often […]

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 […]

Consumer Credit Scores Rise But Risks Remain, Executive Says

Nearly half of consumers saw their credit scores increase by 20 points or less this year, but subprime lenders should be cautious of the real impact it has on consumers’ ability to repay, said Damon Edmondson, chief of analytics at debt purchaser and servicing company Flock Specialty Finance. Credit scores increased by an average of […]

Originations on the Decline as Subprime Lending Falls 8.5%, Equifax Says

Lenders have anecdotally signaled a pullback in subprime loans, but now there’s also data to back up those claims as subprime originations have declined by 8.5% year over year through 2018 so far, according to the Equifax U.S. National Consumer Credit Trends Report.  Year-to-date, 819,600 subprime auto loans have been originated down from 894,500 during the same period […]

Consumers Show Increased Appetite for ‘Cheap Finance,’ Report Finds

Since the downturn, the combination of attractive lease deals, pent-up consumer demand, and easy credit availability have pushed sales higher, according to an industry report by White Clarke Group released last week. Light-vehicle sales in the U.S. have delivered seven consecutive annual gains since the financial crash — marking the longest upwards streak in decades. […]

Equifax Accused of Profiting Off Increased Auto Fraud

Former Equifax Chief Executive Richard Smith testified before the Senate Committee on Banking, Housing, and Urban Affairs on Wednesday amid accusations that the credit bureau is profiting off the breach, which is bound to increase auto fraud. Auto loan fraud has hit record highs in recent years and Equifax has viewed that as an opportunity […]
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