The Auto Finance Roadmap

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...