While mandated implementation might be delayed, Experian and Oliver Wyman are still looking to help auto finance companies meet the initial set of deadlines for the Financial Accounting Standards Board’s current expected credit loss (CECL) model via a new solution ... [Read More]

At the beginning of last year, loan origination system (LOS) provider defi SOLUTIONS announced it has raised $55 million in a Series C investment from Bain Capital Ventures. Then last September, Fiserv Lending Solutions announced the launch of its new ... [Read More]

Typically, the most risk in auto loan asset-backed securities (ABS) resides in the subprime space stemming from the lower credit tiers connected to that paper. Well, S&P Global Ratings is seeing risk grow within prime ABS, too. Because finance companies are ... [Read More]

With potential buyers walking into the dealerships with smartphones and the ability to find information, DealerPeak’s Desk Max is looking to equip store personnel with a tablet-driven tool to generate vital data stemming from soft credit pulls, potential monthly payment ... [Read More]

As finance companies know, critical data on tax liens and civil judgments is no longer included as part of the standard consumer credit report issued from all three major credit bureaus; a move that became effective last April. LexisNexis Risk ... [Read More]

Perhaps it’s just happenstance that Edmunds spotted the average interest rate for new-vehicle financing softening to its lowest level of the year in the same timeframe as the Federal Reserve making its first interest-rate cut in 11 years. Edmunds reported ... [Read More]

As widely expected, the Federal Reserve cut the target range for the federal funds rate by 25 basis points to 2% to 2.25%, marking the first downward move by the Federal Open Market Committee (FOMC) in 11 years. A trio of ... [Read More]

Trust Science secured more than just financial support this week, gaining backing from a former industry leader who “has already opened doors, at the highest levels, that were previously impenetrable.” The provider of underwriting support powered by artificial intelligence announced ... [Read More]

It’s likely not unusual for underwriting departments at subprime auto finance companies to see applications from individuals who work multiple jobs to generate their income. Well, according to a new Bankrate.com report, that’s not just common in the subprime space. ... [Read More]

A former Autotrader executive now has a leadership role in the F&I space. Automotive industry veteran Matt McKenna recently joined APCO Holdings, home of the EasyCare and GWC Warranty brands, as senior vice president overseeing the GWC Warranty business unit ... [Read More]