The Top Five Predictors of Subprime Risk

Better assess subprime opportunities by looking at data and attributes that are often more predictive than traditional credit scores Most of the conversation around automotive finance is currently focused on the growth of originations to consumers with subprime credit scores, but there is more remarkable growth in orginations made to consumers who do not have [Read More…]

Use existing CRM data to uncover high potential auto shoppers

In today’s business environment, working smarter is not a luxury. It’s a necessity. Yet despite budget belt-tightening, many auto marketers are spending millions of dollars marketing their latest and greatest vehicles to consumers who may not be a good financial fit for their brands and models. Equifax financial solutions can enhance existing shopper records to [Read More…]

Subprime Auto Bubble? Not Likely Say Experts

There’s been a lot of chatter lately about a potential bubble forming as a result of subprime lending in the automotive industry. Phil LeBeau, at CNBC, recently interviewed Dennis Carlson, Deputy Chief Economist at Equifax, to get his take on the issue. Carlson and analysts at Equifax looked at data for new and used cars [Read More…]

Challenged with combating fake paystubs?

The challenge of combatting fake paystubs has become an increasing reality for lenders – more so for some than others, depending on the type of lending. Recently, an investigative reporter, Aaron Diamant with WSB-TV Channel 2 Action News in Atlanta, went undercover to see just how easily he could get his hands on fake paystubs [Read More…]

Autotrader’s Car Buyer of the Future Study

Autotrader’s Car Buyer of the Future Study looked at the current shopping, buying and ownership process and asked more than 4,000 consumers about their ideal process. The study was a multi-stage approach with both qualitative and quantitative research. The study identified key areas where consumer demand is influencing rapid change, as well as important insights [Read More…]

Help grow your customer base with one simple message: “I can save you $50 a month on your car note!”

Nothing motivates people to take immediate action like a well done refinance program. These programs help identify opportunities to cross-sell a more favorable auto loan with a lower monthly payment. While refinance programs aren’t new, there are new data-driven strategies for driving successful campaigns that help move the needle in terms of profitability and customer [Read More…]

Make your customers—and dealers—an offer they can’t refuse

Why preferred dealer programs are a win-win for everyone Auto dealers must optimize their mass marketing dollars across multiple channels including TV, newspaper and radio. However, as a lender you have the opportunity to send dealers a gold mine of prequalified, interested vehicle prospects, often for a fraction of the cost of other marketing programs, [Read More…]

Compliance webinar – poll suggests more growth for auto loan securitization

The automotive lending community seems to be leaning towards a bullish view on continued growth in securitization of auto loans. That was the indication we got from attendees at a recent webinar on the changing regulatory environment for lenders and dealerships. The audience of over 150 managers, underwriters, loan officers, compliance managers and others in the automotive [Read More…]

Demystifying compliance issues in automotive dealing & lending and the impact of the CFPB

Webinar: Demystifying compliance issues in automotive lending & dealing and the impact of the CFPB Date: Tuesday, April 7, 2015 Time: 2:00 PM ET During the webinar, attendees will learn about key compliance concerns for automotive dealers and lenders from a former examiner with the Federal Reserve Bank of Atlanta, including the increasing reach and influence [Read More…]

Update Your Scorecard to Win

Tax season is sending loan volumes soaring, making right now the ideal time to freshen up your scorecards. It’s a smart, cost-effective way to better maximize every opportunity that walks through the door enabling you to win more customers without taking on more risk. So, where do you start? Here are a few ideas to [Read More…]