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Regulators Appear to Endorse Alternative Credit Scoring

A joint statement from the nation’s biggest banking regulators expressed cautious optimism toward emerging decisioning models that could generate more auto loans.

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Is Your Salesperson Running a CRO?

Entrepreneurial salespeople are the rock stars of auto retail, but if their side hustle is a credit repair organization, they are creating a major liability for the dealership.

Rising Loan Amounts Drive Consumers to the Used-Vehicle Market

The auto finance segment is growing at a healthy rate, but average new-vehicle loan amounts are outpacing the market, driving an increasing number of car buyers — including those with prime and superprime credit scores — out of the showroom and onto the used-car lot.

4 F&I Scenarios That Can Lead to Bank Fraud

Expert lists four all-too-common situations in which failing to understand underwriting guidelines or falsifying required stips — by dealership or finance source personnel — can constitute not just noncompliance but outright fraud.

Spireon Rolls Out New GoldStar GPS Feature

The new feature provides instant vehicle location and status to help reduce risk and streamline recovery for buy-here, pay-here dealers and lenders.

Experian: Americans Borrow Record Amounts for Auto Purchases in Q1

The dream of owning a new vehicle is becoming more elusive for the average American consumer, with the average amount financed and monthly payment for a new vehicle climbing to record highs of $31,455 and $523, respectively.

Innovate Auto Finance to Service Subprime Portfolio Worth $50 Million

The purchaser and service of vehicle loan portfolios said it has been retained by an unnamed, multinational investment firm to source $50 million worth of subprime auto loan portfolios.

SF Conference Returns to Industry Summit

Industry Summit will once again play host to the Special Finance Conference, the industry’s premier SF training event.

Subprime Auto Originations Fall to 10-Year Low

Reflecting the shift toward more creditworthy borrowers was the rise in average credit scores for both new- and used-vehicle loans. But the retreat from the high-risk tiers also comes during a quarter in which the average new-vehicle finance amount and monthly payment reached record highs.

CUDL: Subprime Pullback Opens Door for Credit Unions

With banks retreating from all risk tiers, an executive with CU Direct Lending said the auto finance market is primed for credit unions to pick up more share. In the first quarter, credit unions grew their share of the market by 4%.