The Consumer Financial Protection Bureau (CFPB) recently released a report detailing the problems in the credit reporting industry that the bureau said it has uncovered and corrected through its oversight work.
There is, admittedly, some “unease” about the health of the new-vehicle market in 2017, Scotiabank said in an analysis.
Part of the dialogue happening at the recent SubPrime Forum during Used Car Week stemmed from whether or not finance companies — especially ones that specialize in subprime paper — were tightening their underwriting.
FactorTrust vice president of auto finance Scott Brackin viewed the move made by Carvana to launch a prequalification financing program as more than just a lever the online auto retailer is pulling to turn used vehicles.
FactorTrust is looking for finance companies to add another consumer definition to their lexicon, encouraging lenders to examine the underbanked population with a new lens.
Along with being ranked as one of the country’s fastest-growing private companies by Inc., FactorTrust this week hired Barbara Sinsley as general counsel and chief compliance officer.
Indiana Members Credit Union chief executive officer Ron Collier explained how this segment of auto financing providers can become “elitist” if all they do is book vehicle installment contracts with consumers whose FICO scores are 800 or higher.
Dealer Marketing Services, the makers of ProMax Unlimited, recently released the third solution in a line of three consumer credit soft pull products. The latest addition is the Instant Auto Credit App, an Equifax-powered version of the popular online soft pull solution.