For many lenders, credit risk management depends on years of experience. Their credit risk expertise is a mix of shrewd loan portfolio analysis and an innate intuition about borrower risk. While that may have worked in the past, credit risk management is shifting from human judgment to automated, data-driven lending decisions that assess credit risk far more accurately.
HOW LOAN ORIGINATION BUSINESS RULES REV AUTO LENDING
Advancements in fintech are transforming loan origination into an increasingly-automated process. Loan applications are now often turned into booked loans with little to no intervention from an underwriter. Underlying this automation is a set of loan origination business rules.
HOW TO AUTOMATE AUTO LOAN STIPULATIONS TO IMPROVE LOAN PORTFOLIO
Automation is continually improving auto lending process efficiency, along with the quality and consistency of lending decisions. Replacing manual, mundane tasks and decisions with workflows and rules accelerates loan origination and enforces consistent decisions. Automation lets underwriters focus on activities that truly require their expertise.
AUTO DEALER LOAN FRAUD PREVENTION STARTS WITH AN LOS UPDATE
Fraud has many faces. Auto dealer loan fraud isn’t as frequent as income, employment, or identity fraud by individuals and fraud cartels. Still, an application from a less-than-honest dealer can show up in the underwriting queue anytime.
HOW MOBILE APPS IMPROVE YOUR DIRECT LENDING OPPORTUNITIES
J.D. Power’s 2018 U.S. Consumer Financing Satisfaction Study, cited in Automotive News, highlighted the value and benefit of easy-to-use mobile apps. The review, ratings, and awards organization said that mobile apps are one of the main factors influencing customer satisfaction with auto lenders.
3 AUTO FINANCE ANALYTICS INNOVATIONS
Auto finance analytics are usually the domain of specialists schooled in the finer points of finance and advanced statistics. Some specialists learn SQL to expertly sift through volumes of lending data. With these talents, they uncover patterns hidden in portfolio terabytes, and discover subtle anomalies that hint of developing trends—and opportunities.
HOW TRENDED CREDIT DATA HELPS YOU APPROVE MORE LOANS WITHOUT MORE RISK
The major credit bureaus now provide lenders with trended credit data reports to complement traditional credit scores. This gives lenders greater confidence when evaluating risk.
IMPROVING YOUR LOS: A TRENDED CREDIT DATA REPORT EXAMPLE
The major credit bureaus now provide lenders with trended credit data reports to complement traditional credit scores. This gives lenders greater confidence when evaluating risk.
SUBPRIME AUTO BUBBLE: WHEN, HOW, AND WHAT TO DO ABOUT IT
Outstanding auto loan debt reached $1.27 trillion in the final quarter of 2018. Earlier this year the New York …
USING TRENDED CREDIT DATA FOR BETTER LENDING DECISIONS
You can draw immediate conclusions from a credit score, especially scores at extreme ends of the credit scoring range. …