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TransUnion: Auto Finance Registers Lowest Growth Rate Since Q1 2012

The firm attributed the slowdown to improvements in oil states and tightening underwriting guidelines, which have also helped stabilize delinquency rates.

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TransUnion: Auto Loan Growth Slowing

Originations continued to fall at a faster rate than previous years, as finance sources continued to tighten underwriting standards during 2017’s end-of-year quarter. TransUnion officials, however, say the sector is performing well as the economy remains relatively strong.

TransUnion: Subprime Pullback to Continue in 2018

Replacement demand from hurricanes Harvey and Irma should provide a temporary boost in new-vehicle demand to open 2018, but TransUnion officials said consumers will shift toward the used-vehicle market as finance sources continue to tighten credit underwriting standards.

Auto Loan Market Shifting Toward Less Risky Consumers

For the fourth consecutive quarter, auto loan originations in the second quarter decreased on a year-over-year basis. Much of that decline was driven a 5.9% decrease in subprime, nearprime, and prime loan originations.

AFSA Panel Bursts Subprime Bubble

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.

CFPB Orders TransUnion and Equifax to Pay $23.1 Million for Deceptive Practices

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.

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.

Auto Balances Up 9% in Q3, TransUnion Reports

Total auto loan balances in the third quarter grew 9% from a year ago to $1.1 trillion, with subprime balances leading the way, TransUnion reported on Monday.

TransUnion: Average Auto Loan Balance Reaches Post-Recession High in Q2

The average auto loan balance per consumer in the second quarter grew 2.7% from a year ago to a post-recession high of $18,177, according to TransUnion. Delinquencies were also up, although the firm said there’s no cause for concern.

TransUnion, FICO Team Up on New Credit Scoring System

Based on TransUnion’s CreditVision trended data, FICO Auto Score 9 XT is specifically designed for the auto finance marketplace. The scoring system ignores paid off collection agency accounts, separates unpaid nonmedical accounts that have gone into collection from unpaid medical accounts in collections, and provides a deeper dive into consumer behaviors.