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Dealertrack, TCI Partner to Deliver Same-Day Contract Processing

An expanded partnership that includes a new integration between Dealertrack and Teledata Communications was designed to enable increased efficiency and faster funding for more auto finance sources.

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Subprime Up 13% as Total Auto Originations Decline

The Federal Reserve Bank of New York’s Q1 U.S. household debt report finds auto loan and lease originations declined slightly year-over-year — except for sub-620 customers — while 90-day delinquencies grew by 9.2%.

Black Book HAV Data Now Integrated Into defi SOLUTIONS’ LOS Platform

Defi SOLUTIONS is the first loan origination platform to include Black Book’s History Adjusted Valuations data feed. Users can now identify undesirable deals prior to the origination process, improve advance amounts, prevent fraud, and use HAV to set floors more accurately when remarketing.

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.

NY Fed: Household Debt Surpasses 2008 Peak in Q1

The feat comes almost nine years after the Great Recession, when household debt reached $12.68 trillion. But the debt and its borrowers look quite different today, the New York Fed noted, and auto finance sources showed signs of tightening in response to some deterioration in auto loan performance.

Subprime Loans Accounted for Nearly 22% of 2015 Originations, Equifax Reports

Subprime auto loans accounted for 21.7% of all 2015 originations. The firm notes, however, that credit performance remains excellent, a sign that finance sources 'are prudently extending credit to well-underwritten borrowers.'