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Based on TransUnion’s CreditVision trended data, FICO Auto Score 9 XT is specifically designed for the auto finance marketplace. The scoring system ignores paid off collection agency accounts, separates unpaid nonmedical accounts that have gone into collection from unpaid medical accounts in collections, and provides a deeper dive into consumer behaviors.
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A new study from TransUnion shows that prime or better mortgage applicants are up to three times as likely to open a new auto loan within 12 months of a mortgage inquiry.
Read More →High delinquency rates for auto loans and credit cards in the first quarter pushed national average delinquency rates to levels not seen in at least three years, according to TransUnion. Much of the increase can be attributed to the continued slump in oil prices and an increase in loans made to customers with nonprime credit.
Read More →The former director of dealer enterprise relationships for Equifax joins the firm as vice president of credit service for the North American market, a role in which he'll oversee CreditMiner's automotive vertical.
Read More →TransUnion expects the average auto loan debt per borrower to increase to $18,509 by the end of 2016, a more than $3,500 increase since the Great Recession. The firm noted, however, that subprime auto loans still make up less than the 23.7% share recorded in the third quarter 2009.
Read More →Despite auto loan balances rising by $101 billion, delinquencies remained flat from a year ago. Officials with the credit reporting agency said their seeing controlled and deliberate growth by lenders.
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Despite an unprecedented rise in student-loan balances over the past decade, a new TransUnion study found that student loan obligations have not inhibited younger consumers’ ability to access and repay other consumer credit categories such as auto loans.
Read More →The millennial generation is the fastest-growing segment of auto loan consumers, representing 27% of total auto loan originations in 2014, according to data from TransUnion.
Read More →TransUnion’s annual auto loan forecast calls for auto loan debt to rise to $18,244 by the end of 2015. This would mark 19 consecutive quarters of increases since the first quarter of 2011.
Read More →Since 2011, auto loan debt per borrower has increased 13%, according to Transunion. The firm also reported that delinquencies experienced a sharp drop from 2013's end-of-year quarter.
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