Podcast: Q3 captive originations are mixed
Third-quarter earnings were mixed again, with some captives reporting growth in originations while others logged declines. Credit performance worsened across…
AI contributes to 25% rise in fraud losses
AI-assisted fraud rings are contributing to a rise in losses at financial institutions such as credit unions. Fraud losses…
Podcast: CFPB halted, Q4 earnings continue
The Department of Government Efficiency, run by Elon Musk, effectively shut down the Consumer Financial Protection Bureau over the weekend,…
60-plus-day delinquency growth slowed in Q2
Delinquencies climbed across auto loans in the second quarter, but at a lower rate than a year ago, as student…
America’s Car-Mart’s originations fall 9% year over year amid credit tightening
Originations through buy here, pay here car dealer America’s Car-Mart’s new loan origination system represented 40% of the outstanding portfolio…
Octane preps for more growth after $326M securitization issuance
Powersports lender Octane closed a $326 million issuance in the asset-backed securitization market this week as the company preps for…
Rising total loss claims: Growing threat to lenders, GAP providers (Off the Lot)
Rising vehicle repair costs, supply chain disruptions and shifting vehicle valuations are creating a perfect storm for lenders and GAP…
Arivo, Open Lending eye refi as opportunity surpasses 18M consumers
Auto lenders are ramping up their refinance programs as interest rates stabilize and more consumers stand to benefit from better…
FICO scores for some with auto loans drop 100 points as student loan payments resume
The first effects of the U.S. Department of Education’s January decision to resume reporting delinquent student loan payments to credit…
Upstart auto originations surge 357%
AI-powered lending platform Upstart’s auto originations soared 357.1% year over year in the third quarter despite tightened lending standards. Upstart…
Ex-FDIC official McKernan nominated as new CFPB director
Amid the uncertainty surrounding the Consumer Financial Protection Bureau, President Donald Trump has nominated a new director to lead the agency. Trump nominated…
Vroom subsidiary UACC originations down 1.7%
Vroom subsidiary United Auto Credit Corp.’s originations dipped year over year in the second quarter as net loss declined. Originations…
Off the Lot: Reflecting on 2024 predictions, eyeing 2025
Happy New Year to Auto Finance News subscribers. This is the first anniversary issue of “Off the Lot.” Last January,…
Leverage Generative AI: Reducing Delinquencies in Subprime Auto Loans
Play the Audio Demo Delinquency rates have risen to historic highs, with 6.11% of subprime borrowers failing to meet…
Refunds and sales tactics: Navigating vague aftermarket oversight
It’s not easy these days for lenders to navigate increased regulatory oversight on aftermarket product sales. (Photo/Canva) The Consumer Financial…