auto loans

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auto loans

·Aug. 19, 2022

Podcast 380: Justin Wickett of Informed.IQ

In this episode we talk with Justin Wickett, the CEO and Co-Founder of Informed. as he discusses automated verifications, document process automation and why credit unions are so keen for help with auto lending

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Fintech USA News Roundup

·May. 21, 2020

Millions of Credit Card and Auto Loans on Financial Hardship Plans

According to recent data from TransUnion lenders reported that almost 15 million credit cards were in financial hardship programs; this...

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News Roundup Fintech USA

·May. 23, 2018

Phone Payments over Auto Loans

Bloomberg reports that consumers are prioritizing mobile phone payments over their auto loans; the shift has come as mobile devices...

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News Roundup USA Online Lending

·Apr. 3, 2017

Ally Launches Online Auto Financing Marketplace

Seeking to be more involved in auto financing, the firm has launched Clearlane; the platform has been developed from the firm's acquisition of BlueYield; the integration and enhancement of the acquired business has resulted in a simplified customer experience and broad range of offerings; the platform includes over a dozen finance providers offering consumers auto financing and auto loan refinancing options with various opportunities identified for expansion. Source

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News Roundup Online Lending

·Mar. 17, 2017

Creditas Raises $16mn from the ABS Market for Auto Loan Refinancing

Creditas, a provider of online secured loans in Brazil, has raised $16 million from the asset-backed securitization market and will use the proceeds to fund auto loan refinancings; the firm partnered with Empirica Investimentos Gestao de Recursos Ltda to launch the securitized investment portfolio, FIDC Empirica Creditas Auto; Creditas seeks to capitalize on an auto loan refinancing market opportunity that has seen increased risk from higher defaults with decreased lending from traditional banks; Brazil reports secured personal credit accounts for 1% of the country's outstanding loans; Creditas plans to offer auto refinancing at monthly rates of 1.99% to 3.65% for an annual rate of approximately 37% which compares to bank rates annually of 120%. Source

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Fintech USA

·Jun. 18, 2020

More Than 100 Million Loans in Forbearance in Last Three Months

Quoting data from Transunion the Wall Street Journal is reporting that 106 million loans have been enrolled in forbearance, deferment...

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Fintech USA News Roundup

·Mar. 19, 2020

Banks May Receive Bonus Points for Low-Income Lending

Regulators in the US are contemplating giving banks additional regulatory points for lending to mid and low income Americans who...

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Online Lending News Roundup

·Apr. 7, 2017

Auto Loan Delinquencies Reach a New High

Auto loan delinquencies are now at their highest level in four years; a report from the American Bankers Association says 1.75% of borrowers with loans from a dealer are at least 30 days late; 0.94% of borrowers with auto loans from a bank are at least 30 days late. Source

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Online Lending News Roundup USA

·Mar. 23, 2017

Data Reports Showing Increased Losses in US Subprime Auto Loans

In November 2016 the New York Fed reported on an increase in subprime auto loan delinquencies putting the sector on watch; a report from Fitch Ratings is now showing continued deterioration in the sector during the second half of 2016 and Mizuho is reporting subprime auto loan loss rates increased to 9.1% in January 2017 from 7.9% in January 2016; Fitch reports that 60+ day subprime auto delinquencies increased to nearly 6% in the fourth quarter of 2016. Source

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News Roundup Online Lending

·Feb. 24, 2017

Lend Academy Article: Fintech Firms in Auto Gaining Traction

Lend Academy provides details on the emergence of online auto lending and the market opportunity for both lenders and technology providers in their article; Lending Club is the largest marketplace lender to begin offering auto loans; Finova Financial has launched a new title loan product; AutoFi and AutoGravity are two companies offering innovative online services for the car buying process; in the used car market, Blinker has also been successful in developing a marketplace for car buyers and sellers; LendIt USA 2017 will be featuring a panel on the future of buying and selling vehicles including insight from many of these companies. Source

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