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The Federal Reserve reports U.S. car buyers borrowed $159 billion in the third quarter, a modest gain powered by a 6% increase in originations to prime credit customers.
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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.
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The dealership software, documents, and compliance services provider has acquired IDS, a provider of mortgage documents and compliance services.
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Industry associations responded this week to a New York Times opinion piece claiming that subprime auto lending is a predatory practice that stands to go the way of subprime mortgages.
Read More →A recent survey found that U.S. banks and credit unions are carrying a much heavier regulatory and risk management burden than they were a year ago. This is due in part to heightened concern over the mortgage guidelines recently finalized by the CFPB.
Read More →Usage of Shastic’s social loan calculator is picking up, with the Berkeley-based company expanding its client base by 66 percent in the first quarter of 2013. Auto loans so far account for 49.4 percent of usage of the company’s Calcubot.
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