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AFS 2019: Market Scan inks partnership with Experian

LAS VEGAS — Market Scan Information Systems has partnered with Experian to offer auto lenders its mGauge product, which consolidates data and analytical insights into competitors’ rates and programs, Rusty West, Market Scan’s co-founder and president, told Auto Finance News. “We aggregate all the data electronically — consumers’ preferences, OEMs incentives, lenders’ rates, trends by municipality […]

Credit detection tool thwarts synthetic identity fraud

A new tool targeting synthetic fraud, developed by Experian and Credit Bureau Connection (CBC), has already thwarted three instances of fraud at the dealership, said Chris Ryan, Experian’s senior fraud solutions consultant. The tool, called Synthetic Identity Detection Score, launched in March and is the latest fraud solution to come out of Experian and CBC’s […]

Ford Credit finance volume drops 14% year over year

Ford Motor Credit’s total volume of units financed has declined 13.7% year over year to 70,793 units financed in July, according to AutoCount data from Experian. In a couple emblematic states, the captive’s volume decreased more than 30%. In Texas, Ford Credit’s number of loans and leases financed dropped 31.3% to 5,979 units in June. […]

Thinning margins spur Ford Credit downgrade

Ford Motor Co.'s weakened credit profile will likely have negative implications for its access to funding and financing volumes after a downgrade by Moody’s Investors Service this week. The downgrade moved Ford’s rating to non-investment speculative-grade status.  Moody’s said an upgrade for Ford is “unlikely in the near term,” as margins are expected to remain […]

Banks increase market share in 2Q

Banks captured auto loan and lease share from credit unions, captives and buy-here, pay-here lenders in the second quarter, according to Experian‘s second-quarter State of the Automotive Financing Market report published today. Banks’ total financing – both loans and leases for new and used vehicles – increased year over year to 32.7% from 30.2%. By […]

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 […]
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