Homayoon Samii’s Post

Some great insight into current Non-prime auto lending market.

🚀 Learn how CRIF Select Corp can help your financial institution give access to credit and enhance your customer experience with Indirect Lending. Stay ahead of the curve and level up today! #IndirectLending #Automotive #CRIFSelect 🔥

Check out this great article to learn more about CRIF Select and the state of lending!! #Auto #lending #Indirect #partnerships

🚗📈 Is your institution adjusting its approach to the requirements of modern lending? Four new fundamentals are now essential in the auto lending marketplace. Consider these when evaluating your auto loan processes and the enabling data and technology. 1. Fast: Streamline your processes for quicker decisions. 2. Fair: Ensure equitable lending practices. 3. Flexible: Adapt to changing market conditions. 4. Flawless: More accurate and forecastable results are within lenders’ reach. Read more in our new blog post, Lending Perspectives: The New (F)Undamentals of Auto Lending, by Kevin Filan, SVP of Marketing at Open Lending. https://lnkd.in/gnRdRM9u #AutoLending #Finance #LendingTrends #AutoFinance #FinancialInsights

🚘 Indirect auto lending is a great opportunity for your credit union to grow your auto lending portfolios further, especially with several financial institutions choosing to exit the space. These programs also create an opportunity to convert borrowers into full-service members or entice them into multi-product members. 💡 But with these indirect loans also come collection challenges - especially in a time of high vehicle prices, extended loan terms, and rising delinquencies. What works in your direct lending program might not work in indirect. It's finding the right balance of loan growth and mitigating risks. In our latest blog, we're covering four strategies Lexop can help with to optimize indirect lending collections to contribute to the program's success - from proactive and frequent digital communication to providing a simple repayment experience to leveraging data analytics for making informed decisions. Learn more here : https://lnkd.in/gjANTsiF #indirectlending #autolending #collections #creditunions

Goeasy Ltd. Reports Results for the Fourth Quarter and Full Year & Announces Increase to Automotive Securitization Facility Quarterly Loan Originations of $705 million, up 12% from $632 million Loan Portfolio of $3.65 billion, up 30% from $2.79 billion Quarterly Net Charge Off Rate of 8.8%, down 20 bps from 9.0% Quarterly Diluted EPS of $4.34, up 154%; Adjusted Quarterly Diluted EPS1 of $4.01, up 32% from $3.05 Annual Diluted EPS of $14.48, up 72%; Adjusted Annual Diluted EPS1 of $14.21, up 23% from $11.55 Annual Dividend per Share Increased to $4.68, up 22% from $3.84 Let’s delve into Goeasy LTD’s March 2024 and Q4 2023 financial performance, key findings, background, and some insights based on the data available in these Goeasy documents.

Indirect lending. Whether you’re a credit union or a bank looking to start an indirect lending program, or looking to expand your current auto loan portfolio, this lending method can enhance your core offerings. Fueled by customer desires for speed and efficiency when making larger purchases, indirect lending has become a competitive industry for all parties in recent years. So, how does it benefit lenders? In our latest blog, we’ll break down what indirect lending is and discuss the key benefits it provides. https://lnkd.in/gF8HjGk5 Web Finance Direct #indirectlending #autolending

Are you a credit union, bank, or auto lender looking to expand your indirect program or enter new markets with an established network of quality dealers? Web Finance Direct can help. Our network of high-quality dealers and proven process ensures that we send applications that meet your finance program requirements. Think of us as your zero-cost loan acquisition engine. Check out our website to learn more about the benefits of indirect lending. #banks #creditunions #autolenders #indirectlending

This is the most clear, comprehensive, and engaging explanation of what has occurred in the Auto Industry from Aug. 2020 to today. A sort of State of the Automotive-Union, if you will. Just as with the State of the Union with The President, @CarDealershipGuy offers a way out of the current Sub-Prime Lending dilemma that we are all experiencing. If you're looking to stay informed on the latest developments in the automotive industry, this is a must-read. GREAT INSIGHTS Car Dealership Guy! #autoindustry #autonews #refinance

Well said Edward, thanks for the insight. Retaining members and preventing them from turning to fintech competitors for automobile loans involves a combination of personalized service, competitive offerings, and embracing technology. Here are some strategies for a credit union or community bank to keep member automobile loans. You must have Competitive Rates and Terms, Personalized Service, Streamlined Application Process, Digital Presence and Technology, Educational Resources, Cross-Selling Opportunities, Community Engagement, Regular Communication, Member Feedback and Adaptation, and Collaboration with Dealerships. By combining these strategies, credit unions and community banks can create a compelling value proposition that not only retains existing members for automobile loans but also attracts new members to the credit union. Some are good at some and think that is all they need but fintechs are good at all and you will lose if you are not.