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Weekly Wrap: COVID-19 pressures used market, ABS deals

This week, the potential bankruptcy news of rental car conglomerate Hertz shook the industry as the liquidation of its fleet, combined with an influx of off-lease vehicles, could flood the used-vehicle market.

Weekly Wrap: GDP contraction signals recession, lenders stock up on cash

This week, news of a 4.8% contraction in the nation’s gross domestic product in the first quarter signaled a recession brought on by the economic fallout of COVID-19, and auto lenders are stocking up on cash. In this editors’ roundtable, Nicole Casperson, Joey Pizzolato and JJ Hornblass discuss news developments during the week ending May 1.

Weekly Wrap: Banks stock up on capital, vehicle values plummet

In the second week of first-quarter earnings season, Ally Financial reported the addition of $2.8 billion to its retail auto reserves, joining last week’s reporters, including Bank of America, JP Morgan Chase and Wells Fargo in setting aside additional credit losses.

Weekly Wrap: Earnings season kicks off, COVID-19 spurs increased reserves

First-quarter earnings season kicked off with JPMorgan Chase, Wells Fargo, Bank of America and Consumer Portfolio Services reporting increased loss reserves as the COVID-19 economic crisis continues to rattle the industry.

Regulatory risks in providing coronavirus-based payment deferrals

The coronavirus outbreak has resulted in an economic recession spurred by shelter-in-place orders that have shuttered doors for nonessential businesses, including most car dealerships. During a compliance roundtable with Auto Finance News, industry experts Mark Edelman and Kelly Lipinski from McGlinchey address the key issues auto lenders are facing today. Virtually every major auto financier has now implemented some sort of payment relief program that allows consumers to defer payments with or without interest. However, no good deed goes unpunished, and there are many compliance considerations that lenders will have to keep on their radar. From eligibility and proof, to F&I products and servicing implications, in this discussion Edelman and Lipinski detail actionable advice for lenders to mitigate regulatory risks with deferral programs.

Filling the gap in servicing, collections with data-driven technology

During the past ten years, lenders have focused on improving data-driven technology on the origination side, yet that same technology hasn’t been as actively applied to the servicing and collections side of the auto finance business. In this episode of “The Roadmap,” Simon Scalzo, founder of Remitter, sat down with Auto Finance News to discuss how consumer data is collected, strategies for communicating with customers and compliance considerations when implementing new tech.

Measuring and mitigating fraud risk

As auto lenders look to technology to scale and grow their businesses, the susceptibility to fraud grows. Technology can help lenders catch fraud, and detection can be achieved at a greater scale with the help of digital tools. In this episode of “The Roadmap,” Auto Finance News chats with General Forensics' Josh Wortman about fraud trends he’s seeing in auto finance, best practices to mitigate criminal exposure, and the intersection between technology and fraud. Featuring: Josh Wortman, chief executive data scientist at General Forensics

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