The Auto Finance Roadmap

Collaborative corporate strategy, healthy relationships with other businesses, and opportunities that enable colleagues to fully express themselves are just a few of the benefits that come with a well-designed diversity and inclusion program for any financial services business. In this episode of The Roadmap, Auto Finance Excellence talks with two executives from Huntington Bank to discuss the ste...

Strategic partnerships are at risk of being marred by culture clash, when the turn-on-a-dime mentality of a startup challenges the red-tape decision-making of larger finance companies. In this episode of The Roadmap, Sonia Steinway, president of Outside Financial, shares insights to help startups and their corporate partners develop – and maintain – healthy relationships. Steinway also outlines th...

As auto lenders struggle to integrate artificial intelligence into origination models, powersports lessor MotoLease has fully embraced the technology. In this episode of The Roadmap, MotoLease Chief Executive Maurice Salter and Chief Operating Officer Emre Ucer discuss the steps involved in using AI to make independent credit decisions based on each person’s individual behavior, as well as the rat...

As credit unions continue to seize auto financing marketshare, knowing how they position themselves for success is key to understanding their growth. In this episode of The Roadmap, Sonya McDonald, Executive Vice President & Chief Lending Officer at Randolph-Brooks Federal Credit Union talks about the lenders’ strategy for growing direct lending by working with dealerships and how credit union...

With lingering uncertainty over what will become of the CFPB and unconfirmed appointees to the Federal Trade Commission, lenders’ compliance obligations are in flux. In this episode of The Roadmap, Dama Brown, Southwest regional director of the FTC, clears up confusion about collection practices and the Fair Debt Collection Practices Act, as well as valuable insights into a recent case again Blue...

As multiple subprime auto securitizers come to the market with lower average Fico scores, longer terms, and higher loan-to-value ratios than their previous issuances, many of these deals are being rewarded with higher ratings. In this episode of The Roadmap, Joseph Cioffi, a partner at Davis & Gilbert LLP, discusses the latest trends in auto ABS, including the industry's reliance on over-colla...

From new security features to 3-D images and biometrics, AutoGravity has several technology development projects on its roadmap this year, according to the online auto finance company’s new Chief Technology Officer Sheng Wang. In this episode of The Roadmap, Sheng details her new CTO role at AutoGravity, why it’s important to have a mobile-first strategy, and the company’s tech goals for 2018. Add...

Alternative deal structures — in which lenders can offer potential borrowers with multiple finance options in response to a single credit request — are becoming more prominent as borrowers continue to seek instant credit decisions. In this episode of The Roadmap, Scott Hendriks, director of product management for auto originations at Fiserv, discusses how these alternative structures can prove ben...

Following the resignation of Consumer Financial Protection Bureau Director Richard Cordray, there has been much confusion surrounding the future of the CFPB and its leadership. Cordray named Leandra English as the agency's interim head, shortly before President Donald Trump named Office of Management and Budget Director Mick Mulvaney to the position, which ensued chaos. However, on the evening of...

Security Service Federal Credit Union attributes its No. 1 rankings in the annual Auto Finance Performance report to managing success by focusing on dealer and member service, and not by trying to gain marketshare. In this episode of The Roadmap, Charles Goss, executive vice president and chief lending officer at Security Service, details the credit union’s secret to success, how it strives to enh...

Deep-subprime lending has notably expanded in the nonbank auto space, reaching $38.9 billion outstanding as of June. Additionally, subprime auto defaults reached $1.8 billion in June, making up about 80% of all defaults in the market. In this episode of The Roadmap, Michael Vogan, automobile economist in the credit analytics department at Moody's Analytics, details a presentation he developed on s...

Industry leaders continue to predict where the end of the line will be for declining used-car values, but what can lenders do to prepare in the meantime? In this episode of The Roadmap, Chuck Jones, head of national indirect lending at SunTrust Banks, shares his “proactive” approach to remaining rational in the market, particularly as delinquencies rise. Jones also offers a peek into how bullish S...