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NAF Conference Offers Return to Industry Camaraderie

The National Automotive Finance Association (NAF) held its annual Non-Prime Auto Financing Conference last week in Plano, Texas. This was a great opportunity for subprime lenders to network, share best practices, get updated on industry trends and learn about new innovations in our space. I spoke to many lenders, agents and other vendors who were really glad to be back – we’ve all missed the camaraderie and learning that can happen when we come together. The group was eager to talk about what’s coming for the industry as the pace of collections and recoveries begins to increase. There was a

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Blog

Auto Insurance Carriers: Make Your Predictive Analytics Smarter

Add vehicle sighting data to insurance carrier predictive analytic models; you’ll be surprised at what you find out. There is no debating the value of insurance carrier predictive analytics. Property and casualty insurers report that models built from predictive analytics help them to improve business performance. And like any business

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Title Lender Boosts Recoveries by 23%

Averts losses using vehicle location data for right party contact and faster recoveries. Title lenders serve a market need for under-banked customers, people in a financial crunch that need rapid relief and continued access to transportation. The title lenders we support tell us that it is critically important to maintain

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Attention Credit Unions: You Really Should Be Better

Credit unions seem to have mastered rapid growth and indirect auto lending strategies, but that’s not good enough – they must be better at connecting with customers to collect on those loans. According to the National Credit Union Administration (NCUA), credit unions saw continued growth in the first quarter of 2016

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Competing for Commercial Auto Business in a Hard Market

Commercial auto carriers look beyond differentiating to compete including vehicle location data to detect fraud at quote.  Once again the commercial auto lines industry is experiencing rising losses. Once again the solution to bad results is to raise everyone’s rates to make up for the losses. Once again good risks

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Waiting-to-Lose Strategy is No Strategy

Days past due (DPD) strategy often leads to repo or charge-off: use vehicle location data as the trigger to avert losses. At our lender round-up in February, we heard from 20 of the top auto lenders in the nation. The main takeaway? “All of the lenders are being challenged to

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Of Course, Auto Insurance Prices Matter

Isn’t it time to get the crooks off your books? When it comes to shopping for auto insurance policies, it should come as no surprise that the overriding concern for most insurance policyholders is price. Yes, they care about whether an insurer will pay a claim or not. Yes, they

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Invest in higher compliance standards. Invest in DBA.

If you had to pick one word to sum up the driving force behind the best originating creditors, debt buyers and collection agencies, it would be: compliance. Complying with best practices that meet and often exceed state and federal consumer protections laws is good for both consumers and the debt

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