Two companies are collaborating for enhanced subprime underwriting at a lower cost.
This week, LAUNCHER.SOLUTIONS, a technology provider specializing in subprime originations, announced a strategic integration partnership with VinAudit.com aimed at reducing costs incurred by subprime finance companies for vehicle history reports.
Officials explained the full API integration with VinAudit.com in LAUNCHER.SOLUTION's appTRAKER Loan Origination System can show finance companies all data points for use in the origination process.
The company reiterated the appTRAKER Loan Origination System was created by subprime auto finance companies specifically for the subprime and near-prime spaces. The integration partnership with VinAudit.com is beneficial for finance companies using appTRAKER Loan Origination System because it can provide them with cost-effective reports for checking:
—Past sale listings
Nikh Nath, president of LAUNCHER.SOLUTIONS, said, “The integration with VinAudit.com is great for all lenders — especially budget-conscious lenders.”
Nath also pointed out the integration can help lenders that purchase subprime and near-prime paper, providing more than just vehicle information. He noted the data points provided by VinAudit.com will feed into the appTRAKER Loan Origination System in such a way that the information will be useful in risk assessment and when creating underwriting rules.
Nath went on to mention LAUNCHER.SOLUTIONS' appTRAKER Loan Origination System is fully customizable so finance companies are now able to utilize VinAudit.com to pull various reports either automatically on every application submitted, or manually on individual applications.