Americans are Borrowing Again
As auto loans and credit apps rise, it appears Americans are more willing to take on debt.
July 8, 2021
As auto loans and credit apps rise, it appears Americans are more willing to take on debt.
July 8, 2021
Bourgeois brings a strong background in data and information technology systems to the position, critical as automotive dealers and lenders embrace a digital automotive experience and navigate a challenging economic environment.
November 17, 2020
Automotive industry executive with proven track record to lead continued growth of Market Scan’s application programming interface solutions.
August 3, 2020
Equifax analysts say U.S. auto loan and lease originations declined 0.6% and 3.9% year-over-year in the first half of 2019, but balances for new vehicle loans were up 2.6%.
November 19, 2019
An Equifax review of auto finance data from the first four months of 2019 found subprime’s percentage of total originations fell to 22.7% for all purchases and 9.2% of new-vehicle leases.
September 12, 2019
A survey of U.S. dealers by Equifax finds the majority of respondents grasp the importance of digital sales and F&I but few are realizing the benefits of reduced transaction times, failing to keep pace with car buyers’ expectations.
June 26, 2019
A new solution from CoreLogic Credco was designed to help auto dealers efficiently prequalify potential customers via soft-pull credit reports and scores from all three national credit bureaus.
June 5, 2019
CDK Global announced on Tuesday that AutoFi has agreed to consume digital retailing APIs from the Fortellis Automotive Consumer Exchange Platform. Equifax, one of the platform’s inaugural publishers, also said on Tuesday it will publish new APIs for the platform.
September 12, 2018
Total outstanding auto portfolio balances reached $1.27 trillion through May, the first time balances have surpassed $1.25 trillion.
September 11, 2018
Subprime originations fell 4.5% from a year ago to 1.841 million in the first quarter, a period in which total outstanding balances topped a quarter trillion, the firm reported.
August 9, 2018
January saw a significant drop in lease originations, as finance sources placed a greater emphasis on loan incentives, according to Equifax. The firm also reported that subprime accounts fell to their lowest share of the market since 2006.
May 7, 2018
Equifax’s TradeSight allows finance sources to analyze originations, current and future dealer partners, and performance of finance contracts booked through dealer partners. The platform works by combining Equifax’s consumer credit information with dealer and vehicle data from third-party data sources.
August 16, 2017
Representatives from the three major credit bureaus opened the 21st annual Vehicle Finance Conference and Exposition by confirming that there is no forming subprime bubble. They explained why and how millennials are contributing to a healthy auto finance market.
January 24, 2017
The Consumer Financial Protection Bureau (CFPB) this week took action against Equifax and TransUnion, ordering the two credit reporting agencies and their subsidiaries to pay more than $17.6 million in restitution for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The two firms were also ordered to pay $5.5 million in fines to the regulator.
January 4, 2017
In addition to confirming basic income and employment information, dealers can now use this new verification technology to view an applicant's job tenure, officials said.
December 15, 2016
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