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September 26, 2017 - Industry News

CFPB: More than 40% of U.S. Adults Struggle to Make Ends Meet

The bureau released results of a national survey that measures the financial well-being of specific consumer groups as well as the population as a whole. The regulator also announced the release of a new tool designed to allow consumers to measure their level of financial well-being.

Tags: auto finance, CFPB, Credit

December 14, 2016 - Industry News

Subprime Borrowers, Expected Interest Rate Hikes to Drive Up Delinquency Rates in 2017

Transunion projects the auto loan delinquency rate for consumers with payments 60 or more days past due to close the year at 1.4%, the highest level since year-end 2009. Even with this increase, TransUnion said delinquency rates will remain well below levels observed during the last recession.

Tags: Auto Loan Delinquency Rate, Credit, Delinquencies, TransUnion

March 17, 2016 - Industry News

Women Better Managers of Credit Than Men, Study Shows

Not only do women have higher credit scores and less debt than men, according to a new report from Experian, they are more likely to purchase a more functional, utilitarian vehicle than their male counterparts.

Tags: Auto Loans, Credit, Experian

December 8, 2015 - Industry News

Canada's Desjardins Group Now Available on RouteOne Platform

RouteOne Canada has announced that Desjardins Group has joined its auto financing portal. Dealers accredited with the cooperative financial group can access credit services, and process credit applications and finance contracts through RouteOne’s platform.

Tags: Credit, Credit Applications, Desjardins Group, RouteOne

October 27, 2015 - Industry News

CreditMiner Integrates With Flick Fusion Platform

CreditMiner has partnered with Flick Fusion to incorporate its real-time soft credit-pull technology with Flick Fusion’s online and mobile video platform.

Tags: Credit, Credit Scores, Flick Fusion, Video Advertising

September 23, 2015 - Industry News

CreditMiner Receives Bureau Global Reseller Status

CreditMiner has been granted full global reseller status with all three national credit bureaus, allowing for a seamless transition from a soft bureau transaction to a full application within the company’s software platform.

Tags: Credit, Credit Bureaus, Dealer Software

August 27, 2015 - Industry News

Consumer Complaints Hit 677,000, CFPB Reports

The Consumer Financial Protection Bureau has received more than 677,000 consumer complaints as of August 1, according to the bureau’s monthly consumer complaints snapshot. The biggest increase was in credit reporting complaints.

Tags: CFPB, consumer complaints, Consumer Financial Protection Bureau, Credit, credit reports, Credit Scores

March 19, 2015 - Industry News

Consumer Credit Defaults Continue Upward Trend

According to S&P and Experian, consumer credit defaults continue to rise, with the bank card default rate leading the way. The auto loan default rate also increased.

Tags: Auto Loans, Credit, default rates, Experian, S&P/Experian

February 18, 2015 - Industry News

Equifax Refutes ‘Subprime Bubble’ in New Report

A new analysis by Equifax economists shows the median consumer credit score increased by 52 points after taking out a subprime auto loan.

Tags: Credit, Equifax, Report, subprime

January 13, 2015 - Industry News

Ally to Make FICO Scores Available to Customers

Ally Financial Inc. will begin piloting in February a new program designed to provide customers with free access to their FICO score. The company expects to fully launch the new service this summer.

Tags: Ally Financial, Credit, FICO, Obama administration

June 3, 2014 - Industry News

Auto Finance ‘Running on All Cylinders,' Equifax Reports

Equifax reported today that auto finance’s total outstanding balance reached a record high in the opening quarter. New credit reached an eight-year high, while serious delinquencies fell to their lowest level in more than five years.

Tags: Auto Lending, Credit, Credit Scores, Equifax, Equifax National Consumer Credit Trends Report

April 8, 2014 - Industry News

NADA Used Car Guide: Credit Conditions to Become 'Slightly Less Favorable'

The NADA Used Car Guide expects credit conditions to become ‘slightly less favorable’ by the end of the year as finance sources take on more risk.

Tags: car prices, Credit, Experian, Federal Reserve, lenders, NADA Used Car Guide

March 20, 2014 - Industry News

February Lease Credit Approvals Up 11% From Last Year

So far in 2014, the credit approval rate is clocking in at 68.3%, close to the level Swapalease.com considers “healthy” at 70%.

Tags: Credit, credit approval rate, lease, Swapalease.com

February 11, 2014 - Industry News

GM Financial Reports Strong Fourth Quarter

GM Financial realized its second best year for credit metrics in 2013, which drove profitability for the captive finance company. But officials believe credit will be ‘a bit weaker’ in 2014.

Tags: Acquisition, Ally Financial, AmeriCredit, Credit, GM Financial

January 22, 2014 - Industry News

Dealer Marketing Services Hires Director of Credit, Compliance

Dealer Marketing Services Inc. has hired Steve Aeschliman in the newly created position of director of credit and compliance. He will have oversight of the strategic direction, expansion and operation of both credit services and compliance.

Tags: compliance, Credit, Dealer Marketing Services, Hiring

October 1, 2013 - Industry News

Equifax: Auto Loan Balance Hits 5-Year High

The balance of auto loans in August increased 9.7 percent from last year, rising from $760.8 billion to $834.4 billion, according to Equifax’s National Consumer Credit Trends Report.

Tags: Auto Loan Delinquency Rate, Credit, Delinquencies, Equifax, Equifax National Consumer Credit Trends Report

September 17, 2013 - Industry News

Car Lease Customer Credit Approvals Slip During August

According to Swapalease.com, slightly fewer approvals came through vs. the previous month and the overall strength on the year.

Tags: approval, car, Credit, Swapalease.com

May 21, 2013 - Industry News

MBFS Customers Can Now Manage Accounts With In-Vehicle App

The captive becomes the first finance source to launch an in-vehicle app that allows vehicle owners to manage their account. The app will be available on model-year 2013 and newer Mercedes-Benz vehicles equipped with the COMAND Navigation system.

Tags: app, application, automotive, COMAND navigation, Credit, Finance, MBFS, Mercedes, Mercedes-Benz Financial Services, technology, vehicle

May 21, 2013 - Industry News

Equifax: New Credit in 2013 at Five-Year High

Auto loan origination activity this year is the strongest it has been for banks since 2006, with new credit generated during January and February totaling $141 billion.

Tags: auto, Credit, Equifax, Equifax National Consumer Credit Trends Report, Finance, home, loan, Student Loan

May 7, 2013 - Industry News

FTC: Credit Report Errors Result in Less Favorable Loan Terms

A recent study by the Federal Trade Commission determined that, for five percent of consumers, credit report errors led to them paying more for products such as auto loans and insurance.

Tags: Auto Loans, Credit, FTC, reporting, Study

February 14, 2013 - Industry News

FTC: 5 Percent of Consumers Have Erroneous Credit Reports

A new FTC study on credit report accuracy found that one in five consumers had an error on at least one of their credit reports.

Tags: auto loan, automotive, consumer, Credit, Credit Report, error, FTC, insurance

November 19, 2012 - Industry News

Equity Firm Acquires White River, Subprime Auto Finance Subsidiary

In a $79.5 million deal, an affiliate with Parthenon Capital Partners acquired White River Capital and its subsidiary Coastal Credit LLC.

Tags: Acquisition, capital, Coastal Credit, Credit, Parthenon Capital Partners, Subsidiary, White River Capital

October 25, 2012 - Industry News

CNW: October Used-Car Sales to Remain Strong

The continued loosening of credit standards is helping franchised dealers move those high-mileage trade-ins, with CNW predicting that used-vehicle sales in October will top the year-ago period by 8.1 percent.

Tags: Art Spinella, CNW, Credit, FICO, Used-Car Sales

October 18, 2012 - Industry News

S&P/Experian: Auto Loan Default Rate Rises in September

Auto was the only loan type to show an increase in its default rate, but officials with the S&P/Experian Consumer Credit Default Indices don’t seem concerned.

Tags: auto defaults, auto loan, Auto Loans, Credit, default rates, S&P/Experian

March 1, 2012 - Industry News

CarFinance Secures $200 Million Credit Line

CarFinance Capital LLC announced that it has secured a $200 million warehouse credit facility from Deutsche Bank and Credit Suisse.

Tags: CarFinance Capital, Credit

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