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# Non Prime Times

Official Publication of the NAF Association

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## Posts

- [Misaligned Risk Functions Are Costing Subprime Lenders More Than They Realize](https://nonprimetimes.com/misaligned-risk-functions-are-costing-subprime-lenders-more-than-they-realize/) - In subprime lending, a file containing manipulated documentation rarely announces itself. It moves through underwriting, books as a loan, and surfaces as a loss, often 12 to 18 months later, well after the window for meaningful intervention has closed. By that point, whether the loss originated in fraud, misrepresentation, or a genuine credit misjudgment has
- [Optimize This Unusual Federal Regulatory Pause](https://nonprimetimes.com/optimize-this-unusual-federal-regulatory-pause/) - By Patricia E.M. Covington It's no secret that 2025 turned the federal regulatory ecosystem on its head. The Consumer Financial Protection Bureau was significantly downsized and almost neutered. The Federal Trade Commission's leadership and composition were changed, as were its focus and enforcement priorities. This upheaval has, for the most part, given the auto finance
- [The Underwriting Renaissance: How AI Unlocks the Hidden Workforce Trapped in the Subprime Stipulation Trap](https://nonprimetimes.com/the-underwriting-renaissance-how-ai-unlocks-the-hidden-workforce-trapped-in-the-subprime-stipulation-trap/) - By InformedIQ There is a question every subprime finance leader should be asking right now — not in their next board review, not at their next offsite, but today: What are your best underwriters actually doing? If the honest answer involves chasing pay stubs, cross-referencing bank statements, and manually verifying income documents one file at
- [A Milestone Year: Inside the Momentum Building for NAF2026](https://nonprimetimes.com/a-milestone-year-inside-the-momentum-building-for-naf2026/) - There’s something different in the air this year. Maybe it’s the pace of change across the auto finance industry. Maybe it’s the growing complexity of the regulatory environment. Or maybe it’s the fact that the NAF Association Annual Conference is celebrating a major milestone. Thirty years. For three decades, this conference has been the place
- [New Survey Reveals a Compliance Confidence Crisis Across Financial Services and Automotive Lending](https://nonprimetimes.com/new-survey-reveals-a-compliance-confidence-crisis-across-financial-services-and-automotive-lending/) - Nearly two-thirds of lenders lack the confidence to survive a multi-state examination today, as state regulatory activity surges and APR calculation errors prove rampant SOUTH BEND, IN (March 31, 2026) — Carleton, a leading provider of compliant loan calculation and disclosure solutions, today released findings from a nationwide March 2026 survey, revealing a widespread compliance confidence
- [Embracing the 2026 AI Frontier in Subprime Finance: Balancing Innovation with Oversight](https://nonprimetimes.com/embracing-the-2026-ai-frontier-in-subprime-finance-balancing-innovation-with-oversight/) - As the subprime finance industry nears the end of Q1 2026, the digital lending environment has shifted from experimental adoption to essential operational infrastructure. The dual pressures that defined the previous year have only intensified—namely, consumer demands for instantaneous credit decisions and the high-stakes challenge of navigating persistent market uncertainties. Rather than a static regulatory
- [You Can’t AI Your Way Out of a TILA Violation: Why Logic and Expertise Still Rule Compliance](https://nonprimetimes.com/you-cant-ai-your-way-out-of-a-tila-violation-why-logic-and-expertise-still-rule-compliance/) - The current atmosphere in subprime finance can be summed up by a single phrase: ifyou aren’t talking about Artificial Intelligence, you aren’t in the room. From financeassociations to lender boardrooms, AI is being examined as a potential solvent foroperational friction. But as the subprime industry rushes to automate everything fromcustomer service to data analytics, a
- [Resolvion and Digital Recognition Network Celebrate 15-Year Partnership,Highlight Future of LPR Technology in Asset Recovery Industry](https://nonprimetimes.com/resolvion-and-digital-recognition-network-celebrate-15-year-partnershiphighlight-future-of-lpr-technology-in-asset-recovery-industry/) - Strategic relationship underscores long-term commitment to innovation inrepossession management and recovery solutions Charlotte, NC — Resolvion, a leading provider of repossession management servicesfor major lenders, today announced a significant milestone in its longstandingpartnership with Digital Recognition Network (DRN): 15 years of collaborationleveraging license plate recognition (LPR) technology to enhance recovery outcomesand operational efficiency. Over the past decade
- [Agora Data Achieves Industry First: Auto Loans Become Public, On-Chain Assets](https://nonprimetimes.com/agora-data-achieves-industry-first-auto-loans-become-public-on-chain-assets/) - Auto Loans Transition from Liabilities to Investable Blockchain Assets Arlington, TX — March 26, 2026 — Agora Data, Inc. (“Agora”), a leading non-prime auto fintech and analytics platform, today announced a first-of-its-kind milestone for the auto industry: Agora-originated auto loans are now publicly available on Figure, the leading blockchain-native marketplace for the origination, funding, sale,
- [ValidiFI Wins “Consumer Lending Innovation Award” in 10th Annual FinTech Breakthrough Awards Program](https://nonprimetimes.com/validifi-wins-consumer-lending-innovation-award-in-10th-annual-fintech-breakthrough-awards-program/) - Prestigious Annual Awards Program Celebrates a Decade of Recognizing the World’s Most Innovative Financial Technology Companies ALPHARETTA, Ga., March 19, 2026 – ValidiFI, Inc., a leading provider of alternative data and predictive analytics, today announced it has been selected as the winner of the “Consumer Lending Innovation Award” in the 10th annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough.
- [The New Subprime F&I Profit Center: Why Payment Servicing Is the Next Big Reinsurance Play](https://nonprimetimes.com/the-new-subprime-fi-profit-center-why-payment-servicing-is-the-next-big-reinsurance-play/) - As affordability pressures mount and loan terms stretch, biweekly payment servicing is emerging as a significant reinsurance premium in addition to Vehicle Service Contracts (VSCs)—turning an overlooked fee into a tax advantaged asset for subprime lenders and dealers.​ For decades, VSCs have been the gold standard of dealer owned reinsurance, delivering strong per contract premiums,
- [LAUNCHER.SOLUTIONS Integrates with CarletonDocs® to Provide Lenders Enhanced Document Compliance](https://nonprimetimes.com/launcher-solutions-integrates-with-carletondocs-to-provide-lenders-enhanced-document-compliance/) - Jacksonville, Fla - March 16, 2026: LAUNCHER.SOLUTIONS (Launcher), a technology provider of loan origination technology for automotive and consumer lenders, announced today a strategic product integration between its appTRAKER™ Loan Origination System (LOS) and CarletonDocs® from Carleton, Inc.’s compliant document generation platform. By incorporating CarletonDocs® into the appTRAKER™ platform, Launcher further strengthens its comprehensive loan origination
- [The Bot Said It Was Fine: The Perils of AI-Generated Legal Advice for Dealers and Finance Companies](https://nonprimetimes.com/the-bot-said-it-was-fine-the-perils-of-ai-generated-legal-advice-for-dealers-and-finance-companies/) - It's a busy day for operations. Customers are everywhere, and business is good. You need to respond to a question about a payment convenience fee. To save time, you quickly enter: "Can I charge an ACH convenience fee in [state]" into your favorite generative artificial intelligence tool. The tool provides you with an instant answer,
- [Agora Data Brings Blockchain-Enabled Capital Markets to the AgoraCapital Platform](https://nonprimetimes.com/agora-data-brings-blockchain-enabled-capital-markets-to-the-agoracapital-platform/) - Collaboration with Figure connects auto loan assets to modern capital markets while preserving the simplicity and consistency dealers rely on today. Arlington, Texas – Mar 11, 2026 — Agora Data, Inc. (“Agora”), a nonprime auto fintech and analytics platform, recently announced the expansion of its capital markets infrastructure through a collaboration with Figure Technology Solutions
- [InformedIQ Study Of Auto Finance Professionals Reveals Critical Gaps in Fraud Detection and Rising “AI Fatigue”](https://nonprimetimes.com/informediq-study-of-auto-finance-professionals-reveals-critical-gaps-in-fraud-detection-and-rising-ai-fatigue/) - While 75% of lenders report a surge in fraud, over half admit low confidence in current tools to stop AI-generated threats; findings highlight a shift from “futuristic promises” to a demand for tangible ROI SAN FRANCISCO – March 11, 2026 - InformedIQ, a developer of AI-based software for income and employment verifications, announced today the completion
- [Who Is Making an Impact in Auto Finance? NAF Invites Nominations for Annual Industry Awards](https://nonprimetimes.com/who-is-making-an-impact-in-auto-finance-naf-invites-nominations-for-annual-industry-awards/) - Award recipients will be honored during the 2026 Annual Non-Prime Auto Financing Conference, June 2–4 in Irving, Texas. Tallahassee, FL — March 13, 2026 — The National Automotive Finance Association (NAF) is now accepting nominations for its annual industry awards, which recognize professionals who have made meaningful contributions to the non-prime auto finance community. Each
- [Agora Data and Figure Technologies Announce Partnership to Launch First Blockchain-Based Auto Loan Platform for Real-World Assets](https://nonprimetimes.com/agora-data-and-figure-technologies-announce-partnership-to-launch-first-blockchain-based-auto-loan-platform-for-real-world-assets/) - Arlington, Texas – Feb 26, 2026 — Agora Data, Inc. (“Agora” or the “Company”), a non-prime auto fintech and analytics platform, and Figure Technology Solutions (NASDAQ: FIGR) (“Figure”), a pioneer in blockchain-based capital markets infrastructure, today announced a strategic partnership to launch the first blockchain-enabled platform bringing U.S. auto loans to modern capital markets as
- [Haste Makes Waste: What Not to Do When You Repossess](https://nonprimetimes.com/haste-makes-waste-what-not-to-do-when-you-repossess/) - You probably know the Uniform Commercial Code's rule about "self-help" (i.e., non-judicial) repossession of personal property collateral. In case you need a reminder, the Secured Transactions Article of the UCC (Article 9) allows a secured creditor to repossess the collateral of a debtor in default without a court order if the creditor does so without
- [Alfa named Tech Business of the Year at the plc awards](https://nonprimetimes.com/alfa-named-tech-business-of-the-year-at-the-plc-awards/) - March 2, 2026 -- Alfa, a leading software provider to the asset, equipment and automotive finance industries and a member of the FTSE250, has been named Tech Business of the Year at February’s plc awards for 2025. The award recognises publicly listed technology companies that drive economic growth and deliver commercial success through the development
- [LAUNCHER.SOLUTIONS Successfully Completes 2025 SOC 2® Type 2 Examination](https://nonprimetimes.com/launcher-solutions-successfully-completes-2025-soc-2-type-2-examination/) - Jacksonville, FL: LAUNCHER.SOLUTIONS (Launcher), a leading provider of loan origination technology for consumer and automotive lenders, today announced the successful completion of its 2025 SOC 2® Type 2 examination. The independent examination, conducted by A-LIGN, validates that Launcher’s controls were suitably designed and operated effectively over a defined review period in accordance with the AICPA Trust
- [Registration Opens for NAF2026, Marking 30 Years of Leadership in Non-Prime Auto Finance](https://nonprimetimes.com/registration-opens-for-naf2026-marking-30-years-of-leadership-in-non-prime-auto-finance/) - Tallahassee, FL — Registration is now open for the 2026 Annual Non-Prime Auto Financing Conference (NAF2026), the flagship event of the National Automotive Finance Association, taking place June 2–4, 2026, at the Omni Las Colinas in Irving, Texas. The 2026 conference marks a major milestone as the association celebrates the 30th anniversary of its premier
- [AI in Subprime Finance: Innovation or Illusion? Why the Industry Must Tame Data Hallucinations Before Reaping Real Gains](https://nonprimetimes.com/ai-in-subprime-finance-why-the-industry-must-tame-data-hallucinations/) - Artificial intelligence (AI) has rapidly become the centerpiece of every conversation in auto finance and subprime. However, as AI proliferates across subprime lending operations, many industry professionals are discovering a hard truth: innovation without reliability is just another risk. Recent industry survey data from more than 2,500 finance and compliance professionals underscores this tension. While
- [The Visibility Gap: Why Transparency is the New Bedrock of Consumer Investor Confidence](https://nonprimetimes.com/the-visibility-gap-why-transparency-is-the-new-bedrock-of-consumer-investor-confidence/) - For too long, the subprime industry has operated under a veil of "risk compliance caution"—a conservative approach that prioritizes checking boxes over truly provocative leadership. But as the market evolves and risks become more sophisticated, this traditional mindset is no longer enough. We are entering an era where transparency is not just a secondary feature;
- [Non-Prime Auto Financing Conference](https://www.nafassociation.com/events/naf2026#new_tab)
- [AFSA Independents](https://independents-conference.afsaonline.org/#new_tab)
- [The Liquidity Quest and the Need for Digitization with Auto Securitizations](https://nonprimetimes.com/the-liquidity-quest-and-the-need-for-digitization-with-auto-securitizations/) - The subprime auto loan securitization market is currently characterized by a unique blend of stable market sentiment and untapped growth potential. Recent industry survey data from the auto finance sector1 reveals a market that has remained remarkably resilient despite broader economic headwinds, with 60.9% of institutions reporting no significant change in their activity levels. However,
- [Resolvion Announces Appointment of Ronald Eubanks as Executive Vice President of Client Strategy](https://nonprimetimes.com/resolvion-announces-appointment-of-ronald-eubanks-as-executive-vice-president-of-client-strategy/) - Charlotte, NC – February 5, 2026 — Resolvion, a leading national provider of asset recovery management solutions, today announced the appointment of Ronald Eubanks as Executive Vice President of Client Strategy. In this role, Ronald will oversee enterprise-level client strategy with a focus on enhancing communication, deepening client engagement, and aligning long-term strategic direction with
- [Why Waiting for Federal Guidance is the Latest Risk in Subprime Finance](https://nonprimetimes.com/why-waiting-for-federal-guidance-is-the-latest-risk-in-subprime-finance/) - Prior to 2025, the strategic playbook for subprime finance leaders centered on a predictable cadence: monitor the federal horizon, wait for the Consumer Financial Protection Bureau (CFPB) or the Federal Trade Commission (FTC) to signal a shift, and calibrate internal systems accordingly. As we move into 2026, the regulatory landscape has become increasingly decentralized. While
- [Make Hay While The Sun Is Shining](https://nonprimetimes.com/make-hay-while-the-sun-is-shining/) - I grew up in a small town and farming community 40 miles outside of Oklahoma City. At that time, we had 3 stop lights, a Sonic, a Pizza Hut, and a fantastic old-time burger shop that served ready-made burgers hot off the grill. I worked at the family’s car dealership, doing whatever needed to be
- [Alfa unveils RouteOne partnership to support US auto finance originations](https://nonprimetimes.com/alfa-unveils-routeone-partnership-to-support-us-auto-finance-originations/) - January 29, 2026 - Alfa has announced a new RouteOne add-on for the Alfa Systems technology platform, providing US auto lenders with a pre-built connection to their dealer networks. This powerful suite of integrations enables straight-through originations processing, allowing Alfa Systems user to manage the end-to-end lifecycle - from initial entry through to underwriting approval
- [PROTECTIVE ASSET PROTECTION UNVEILS ITS 2025 F&I ANNUAL UPDATE REPORT](https://nonprimetimes.com/protective-asset-protection-unveils-its-2025-fi-annual-update-report/) - Sixth Year Edition Highlights the Shift Toward Omnichannel Operations and the Critical Need to Demonstrate Value Amidst Growing Consumer Affordability Challenges ST. LOUIS - (January 28, 2026) – Protective Asset Protection, a leading provider of finance and insurance (F&I) programs and services, announced today the release of its 2025 F&I Industry Report. This year’s comprehensive study
- [The End of the "Manual Review Trap": Re-engineering Subprime Lending for 2026](https://nonprimetimes.com/the-end-of-the-manual-review-trap/) - The subprime finance industry is approaching a critical era. For years, the promise of digital transformation has been a boardroom staple, yet the reality on the ground remains stubbornly analog. As we move into 2026, the primary bottleneck in lending isn't a lack of capital or consumer demand; it is the manual review process. Legacy
- [What the Changing Credit File Means for Non-Prime Auto Lenders](https://nonprimetimes.com/what-the-changing-credit-file-means-for-non-prime-auto-lenders/) - The credit file is no longer a static record. It is increasingly becoming a living profile shaped by broader identity recognition, consumer-contributed data, and integrity checks. For non-prime auto lenders, understanding these changes is no longer optional. It can mean the difference between expanding access responsibly and being surprised by early losses. Over the last
- [The Peril of Preemption – A Gamble for Subprime Finance](https://nonprimetimes.com/the-peril-of-preemption-a-gamble-for-subprime-finance/) - President Trump’s recent Executive Order (EO) on “Ensuring a national policy framework for artificial intelligence,” should have the subprime finance industry worried. Nominally, the EO appears very pro-business. The EO’s stated objective is “to sustain and enhance the United States’ global AI dominance through a minimally burdensome national policy framework for AI. While avoiding a
- [De-Mystifying AI](https://nonprimetimes.com/de-mystifying-ai/) - Developments in artificial intelligence (AI) have accelerated rapidly over the past decade, and the topic now features prominently in mainstream media and corporate messaging. Many organizations promote proprietary “AI-driven” capabilities as a marker of sophistication, often without clearly defining what those capabilities entail. As a result, perceptions of AI have become polarized: some view it
- [Protective Closes Portfolio Acquisition, Uniting Leading F&I and Dealer Wealth Solutions](https://nonprimetimes.com/protective-closes-portfolio-acquisition-uniting-leading-fi-and-dealer-wealth-solutions/) - Strategic transaction strengthens Protective Asset Protection’s market leadership and expands dealer wealth solutions across multiple vehicle sectors BIRMINGHAM, Ala.-- Protective Life Corporation (Protective), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (Dai-ichi) (TSE:8750), today announced that it has completed the acquisition of Portfolio Holding, Inc. (Portfolio) and its subsidiaries from Abry Partners. The transaction unites two leading providers of finance and
- [Reflections on 37 Years in Subprime Auto Finance – Lessons, Change, and What Comes Next](https://nonprimetimes.com/reflections-on-37-years-in-subprime-auto-finance/) - By Jim Bass Introduction: A Career Built on Change When I started in subprime auto finance in the late 1980s, the industry was a different world. There were no automated portals, no predictive analytics, and certainly no AI-driven risk models. What we had were fax machines, paper contracts, and a lot of windshield time between
- [NAF Association Announces 2026 Signature Event Lineup](https://nonprimetimes.com/naf-association-announces-2026-signature-event-lineup/) - Celebrating Learning, Leadership, and Community in the Non-Prime Auto Finance Industry Tallahassee, FL, December 19, 2026 – The National Automotive Finance (NAF) Association is proud to announce the dates and locations for its 2026 Signature Events, marking an exciting year of learning, development, and industry connection as the organization celebrates its 30th anniversary. In 2026,
- [Subprime Regulatory Compliance Review: Getting Your House in Order for the New Year](https://nonprimetimes.com/subprime-regulatory-compliance-review-getting-your-house-in-order-for-the-new-year/) - As the lending industry looks toward the new year, it’s an important time to review compliance infrastructure and ensure readiness for the evolving regulatory landscape. Given the recent slowdown in federal rulemaking from the CFPB, the focus on state-level regulatory compliance has never been more critical. In reviewing recent changes, between January 2024 and September
- [Vehicle Financing Remains an Important Part of the American Economy](https://nonprimetimes.com/vehicle-financing-remains-an-important-part-of-the-american-economy/) - December 2025, Vol. 28, Issue 6 I hope you like, or at least can tolerate, numbers because you'll find a lot of them in this article. Oxford Economics, a UK-based global advisory firm, wrote a report for the American Financial Services Association on the economic impact of vehicle financing in the United States. While the
- [Understanding The Subprime Finance Industry’s Digitization Progress In Q4](https://nonprimetimes.com/understanding-the-subprime-finance-industrys-digitization-progress-in-q4/) - The third quarter of 2025 served as a pivotal point for the subprime finance sector's digital transformation journey. While the industry has spent the last several years rapidly building a foundation for digital operations, the data from the most recent Digital Transformation Index suggests that the industry is showing a greater divide between digitization used
- [The Hidden Cost of Paper: How the Analog Deal Jacket Is Taxing Subprime Lenders](https://nonprimetimes.com/the-hidden-cost-of-paper-how-the-analog-deal-jacket-is-taxing-subprime-lenders/) - As the automotive finance ecosystem pushes toward instant approvals, digital contracting, and seamless customer experiences, the final, critical mile of the funding process remains frustratingly slow, opaque, and non-compliant. The culprit is not a lack of technology but a failure in its unified deployment: the dealer’s fragmented deal jacket. For subprime lenders, this is a
- [Progress with Purpose: Strengthening the Non-Prime Auto Finance Community](https://nonprimetimes.com/strengthening-the-nonprime-auto-finance-community/) - Adapting to market shifts, elevating compliance, and strengthening connections across the industry As we move through the final stretch of 2025, our industry is once again at an inflection point. The nonprime auto finance landscape continues to evolve, shaped by shifting credit conditions, consumer behavior, and an ever-changing regulatory climate. Amid these shifts, we are
- [Auto Finance Summit East](https://autofinance.live/afs-east/#new_tab)
- [Fair Lending Is Dead, Long Live Fair Lending…](https://nonprimetimes.com/fair-lending-is-dead-long-live-fair-lending/) - The phrase "Le roi est mort, vive le roi!"—the king is dead, long live the king—captures today’s paradoxical moment in subprime fair lending: sweeping changes at the federal level contrast with stubborn continuity on the ground. Fintech and subprime lending compliance teams find themselves navigating a maze of evolving policy signals while day-to-day expectations of
- [Protective to Acquire Portfolio, Enhancing Dealer Wealth and F&I Solutions](https://nonprimetimes.com/protective-to-acquire-portfolio-enhancing-dealer-wealth-and-fi-solutions/) - Strategic acquisition strengthens Protective’s commitment to innovative finance and insurance offerings across automotive, RV, powersports and marine products BIRMINGHAM, Ala.--(BUSINESS WIRE)--Protective Life Corporation (Protective), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), announced today that it has entered into an agreement to acquire Portfolio Holding, Inc. (Portfolio) and its subsidiaries from Abry Partners. Portfolio is a leading
- [DOJ Settles SCRA Claims Against Vehicle Finance Company](https://nonprimetimes.com/doj-settles-scra-claims-against-vehicle-finance-company/) - Post From :Last Week, This Morning® On September 29, the Department of Justice announced that it entered into a settlement agreement with a vehicle finance company to resolve allegations that it failed to obtain the requisite court order before repossessing the vehicles of five active-duty servicemembers, in violation of the Servicemembers Civil Relief Act. Under the SCRA, a finance
- [Subprime Direct Lending's Competitive Edge: Instant Dealer Funding and the Fight Against Fraud](https://nonprimetimes.com/subprime-direct-lendings-competitive-edge-instant-dealer-funding-and-the-fight-against-fraud/) - In today’s direct auto lending channel—where a consumer secures financing directly from a subprime lender before stepping onto the lot—legacy payment methods have long introduced friction, slowing down the final purchase process for the dealer and undermining the smooth experience promised by the subprime lender. Forward-thinking financial institutions and dealerships are now recognizing that the
- [Resolvion Launches Dedicated Credit Union and Mid-Market Division to Deliver Specialized Recovery Solutions and Enhanced Partner Support](https://nonprimetimes.com/resolvion-launches-dedicated-credit-union-and-mid-market-division-to-deliver-specialized-recovery-solutions-and-enhanced-partner-support/) - Charlotte, NC – October 15, 2025 — Resolvion, a leading national provider of asset recovery management solutions, has announced the launch of its new Credit Union and Mid-Market Division, created to deliver specialized recovery services, stronger transparency, and a higher level of support for credit unions and mid-tier lenders. The division is designed to help
- [Agora Data and DealerCenter Launch Nationwide Integration to Help Dealers Sell More Cars and Keep More Profit](https://nonprimetimes.com/agora-data-and-dealercenter-launch-nationwide-integration-to-help-dealers-sell-more-cars-and-keep-more-profit/) - Arlington, TX – October 14, 2025 — Agora Data, Inc. (“Agora”), a leading fintech innovator delivering advanced capital solutions in the non-prime consumer finance markets for auto dealers and finance companies, has teamed up with DealerCenter, a premier dealer management system (DMS). This strategic partnership empowers auto dealers with enhanced tools and resources to easily obtain capital, streamline
- [Alfa unveils Syndication capabilities for asset and loan finance](https://nonprimetimes.com/alfa-unveils-syndication-capabilities-for-asset-and-loan-finance/) - September 26, 2025 - Alfa, the leading provider of technology for asset finance, has announced the release of its Syndication module for Alfa Systems, delivering automated support for syndicating leases, loans and revolving credit facilities. The new module enables complete syndication management for lenders - from simple splits to complex multijurisdictional syndicates - while maintaining
- [Colorado Artificial Intelligence Act: What Indirect Finance Sources and Dealerships Should Do Now to Prepare](https://nonprimetimes.com/colorado-artificial-intelligence-act-what-indirect-finance-sources-and-dealerships-should-do-now-to-prepare/) - by Jay Harris and Mark Metrey* Colorado Governor Jared Polis signed a special session bill on August 28 moving the effective date of the Colorado Artificial Intelligence Act to June 30, 2026. Lawmakers are expected to revisit the framework during the 2026 regular session, so details may change again in the spring. Preparing now remains
- [Circular Bank Statement Fraud: The New Synthetic Income Scam Subprime Lenders Must Fight](https://nonprimetimes.com/circular-bank-statement-fraud-the-new-synthetic-income-scam-subprime-lenders-must-fight/) - Fraud in subprime lending is constantly changing — and circular bank statement fraud is the latest, most sophisticated tactic lenders must watch for. For years, subprime finance executives have battled familiar threats: synthetic identities, falsified paystubs, and fake employers. These were largely document-based challenges. Now, a more insidious and digitally-engineered tactic is taking hold: circular
- [Subprime Lending’s New “Double-Pledging” Risk: Why Paper Is a Liability](https://nonprimetimes.com/subprime-lendings-new-double-pledging-risk-why-paper-is-a-liability/) - In the world of asset-backed finance, a single misstep can send shockwaves through the market. For subprime auto lenders, recent reports of double- and even triple-pledged collateral, with billions of dollars on the line for institutional lenders, have exposed a long-held and dangerous vulnerability. While many in the auto lending space have historically considered the
- [Protective Asset Protection Refreshes Paint And Fabric Product To Comprehensive Appearance Protection Offering](https://nonprimetimes.com/protective-asset-protection-refreshes-paint-and-fabric-product-to-comprehensive-appearance-protection-offering/) - ST. LOUIS - (October 1, 2025) – Protective Asset Protection announced today the refresh of its Paint and Fabric product into a robust Appearance Protection program. This enhanced offering delivers a full spectrum of interior and exterior protection solutions, now including standard, ceramic, and advanced graphene options, designed to keep vehicles looking showroom-new for years to
- [Beyond Credit Scores — How Smart Data Strategies Are Unlocking Growth in  Consumer Lending](https://nonprimetimes.com/beyond-credit-scores-how-smart-data-strategies-are-unlocking-growth-in-consumer-lending/) - Consumer finance lenders serving non-prime and near-prime borrowers face an intensifying challenge: growing portfolios without increasing risk exposure in an environment where nearly 50% of Americans live paycheck-to-paycheck and third-party fraud losses exceed $42.9 billion in 2023 annually. Traditional credit scoring remains the industry standard, but many lenders are discovering that relying on identical underwriting
- [Reasons Why Subprime Auto Lenders Should Be Located Near Research & Innovation Resources](https://nonprimetimes.com/reasons-why-subprime-auto-lenders-should-be-located-near-research-innovation-resources/) - In the race to advance the subprime finance industry, location is more than a pin on a map — it’s a position within an ecosystem. For decades, executives making expansion or relocation decisions considered factors like tax incentives, consumer demand, and access to target markets. Those drivers still matter, but for subprime finance companies, the
- [defi Solutions Announces New Partnership with INFORMED.IQ to Automate Funding Process and Reduce Risk](https://nonprimetimes.com/defi-solutions-announces-new-partnership-with-informed-iq-to-automate-funding-process-and-reduce-risk/) - defi LOS Will Integrate Informed.IQ’s Proprietary AI, ML Models WESTLAKE, Texas (September 10, 2025) — defi SOLUTIONS, a leading provider of end-to-end, SaaS loan originations, servicing, and managed servicing solutions, is pleased to announce the addition of Informed.IQ to the defi ecosystem of integration partners and lenders. Lenders will be able to seamlessly integrate Informed.IQ’s
- [NAF Association Hosts Successful Compliance Champions Workshop in Irving, Texas](https://nonprimetimes.com/naf-association-hosts-successful-compliance-champions-workshop-in-irving-texas/) - September 12, 2025 Tallahassee, FL — The National Automotive Finance (NAF) Association recently convened compliance professionals and auto finance leaders at the Compliance Champions Workshop, held September 9–10, 2025, at the Texican Court in Irving, Texas. The workshop brought together lenders, legal leaders, and industry partners for practical training, peer discussions, and real-world strategies to
- [The Digital Footprint Imperative: Why Subprime Lenders Must Evolve to Combat Modern Document Fraud](https://nonprimetimes.com/the-digital-footprint-imperative-why-subprime-lenders-must-evolve-to-combat-modern-document-fraud/) - The subprime lending industry is certainly in a state of flux. While the shift to digital lending has streamlined processes and improved the customer experience, it has also created new vulnerabilities for fraud. The days of detecting forgeries through careful visual inspection are gone. Today's fraudsters are highly sophisticated, leveraging powerful tools and even artificial
- [Agora Data Strengthens Leadership with Appointment of Wendy Pratt to Head Financial Institutions Group](https://nonprimetimes.com/agora-data-strengthens-leadership-with-appointment-of-wendy-pratt-to-head-financial-institutions-group/) - Arlington, TX – September 8, 2025 — Agora Data, Inc. (“Agora”), a leading fintech innovator delivering advanced capital solutions in the non-prime consumer finance market, is pleased to announce the appointment of Wendy Pratt as Head of its Financial Institutions Group (FIG). Wendy joined Agora in mid-August and will lead the strategic expansion of the FIG
- [Protective Asset Protection Unveils Expanded AI-Driven Training Program For Auto Dealerships](https://nonprimetimes.com/protective-asset-protection-unveils-expanded-ai-driven-training-program-for-auto-dealerships/) - ST. LOUIS - (September 8, 2025) – Protective Asset Protection today announced the expansion of its auto, RV, powersport, & marine training program, introducing new resources designed to equip finance and insurance (F&I) managers with the skills needed for success in a competitive market. The enhanced program, which emphasizes the use of advanced technology and
- [Recent Legal Developments from The CARLAWYER©](https://nonprimetimes.com/recent-legal-developments-from-the-carlawyer/) - Here’s our monthly article on selected legal developments we think might interest the auto sales, finance, and leasing world. This month, the developments involve the House Financial Services Committee, Federal Deposit Insurance Corporation, President Trump, Consumer Financial Protection Bureau, Federal Trade Commission, and Federal Reserve Board. As usual, our article features the “Case(s) of the
- [Alfa reveals "Data Guardian" technology, the cornerstone of data security in Alfa Cloud](https://nonprimetimes.com/alfa-reveals-data-guardian-technology-the-cornerstone-of-data-security-in-alfa-cloud/) - Alfa, creator of Alfa Systems, a leading SaaS solution for equipment and auto finance, has announced its unparalleled approach to data resilience and continuous business operations. Data Guardian is an advanced feature of Alfa Cloud, the platform that delivers Alfa Systems as a service on the AWS public cloud. By combining dedicated isolated networking with
- [The Compliance Mirage: Why Not All Payment Calculators Are Created Equal](https://nonprimetimes.com/the-compliance-mirage-why-not-all-payment-calculators-are-created-equal/) - A payment calculator seems like it is technology offered and used by everyone today. Plug in a few numbers, and out pops a monthly payment. Simple, right? Unfortunately, this illusion of simplicity is costing subprime lenders and dealers significantly. What many don’t realize is that the vast majority of payment calculators on the market are
- [Agora Data Welcomes Wendy Pratt](https://nonprimetimes.com/agora-data-welcomes-wendy-pratt/) - Agora Data is thrilled to welcome Wendy Pratt to the Agora Data team as new Vice President, Sales Strategy!Wendy is an experienced and recognized leader in the financial markets and automotive industry, bringing a dynamic, results-driven approach and a proven record of achievement.In her new role, Wendy will help independent financial institutions, agents, and partners
- [Driving Growth and Loyalty: How Subprime Lenders Can Seize New Opportunities in Vehicle Transactions](https://nonprimetimes.com/driving-growth-and-loyalty-how-subprime-lenders-can-seize-new-opportunities-in-vehicle-transactions/) - While the allure of the open road and the necessity of personal transportation remain steadfast, the ways in which consumers buy, sell, and finance vehicles are changing rapidly. For subprime lenders, this dynamic environment presents not just challenges but significant opportunities to not only grow their portfolios but also deepen their engagement with existing customers
- [Assessing Auto Lending Risk in the Wake of the Student Loan Crisis](https://nonprimetimes.com/assessing-auto-lending-risk-in-the-wake-of-the-student-loan-crisis/) - Student loan dynamics have entered a pivotal new phase, as repayments fully resume and delinquency rates begin to climb. For auto lenders, the implications reach far beyond education debt. Recent insights from TransUnion highlight trends that are reshaping consumer credit behavior and exposing new layers of risk in auto portfolios. The Scale of the Problem
- [Auto Finance Leaders Gather for High-Impact Dialogue at the NAF Association’s 2025 C-Suite Retreat](https://nonprimetimes.com/auto-finance-leaders-gather-for-high-impact-dialogue-at-the-naf-associations-2025-c-suite-retreat/) - FOR IMMEDIATE RELEASE Tallahassee, FL — August 15 – The National Automotive Finance (NAF) Association brought together senior executives from across the auto finance spectrum for the 2025 C-Suite Retreat, a two-day gathering designed to challenge default thinking, exchange ideas, and foster meaningful connections. This year’s Retreat drew a diverse group of leaders representing finance
- [Automotive Credit Corporation Pauses All Credit Originations](https://nonprimetimes.com/automotive-credit-corporation-pauses-all-credit-originations/) - Automotive Credit Corporation (ACC) has made the decision to pause all credit originations indefinitely, effective immediately. ACC will no longer be accepting new credit applications or purchasing new retail installment contracts from its dealer network. While this may come as unexpected news, this decision reflects a strategic realignment in light of current internal and external
- [Reimagining Document Verification for Today’s Modern Subprime Lending Needs](https://nonprimetimes.com/reimagining-document-verification-for-todays-modern-subprime-lending-needs/) - It’s no surprise that with all the technology tools and resources available today, loan decisioning has become faster and more intelligent, with many parts of the process now automated. However, for many subprime lenders, the final stages of the funding process still introduce significant friction. This is often due to traditional verification methods that serve as a persistent bottleneck, whether because of the cost of new technology, the burden on already-lean teams, or the risks of compliance and fraud.
- [Driving Trust and Efficiency: The Untapped Potential of Private Party Auto Loans for Subprime Lenders](https://nonprimetimes.com/driving-trust-and-efficiency-the-untapped-potential-of-private-party-auto-loans-for-subprime-lenders/) - Subprime lenders have long been the backbone of local communities, fostering strong relationships with their customers and offering unique financial solutions. Unlike their national bank counterparts, which often focus on a broader pool of customers, subprime lenders are uniquely positioned for private party auto lending specializing in providing loans to individuals with less-than-perfect credit scores,
- [Tips for Subprime Industry Stakeholders to Navigate AI Hallucinations](https://nonprimetimes.com/tips-for-subprime-industry-stakeholders-to-navigate-ai-hallucinations/) - AI tools present exhilarating opportunities for the subprime industry. Lenders and retailers are leveraging AI to great effect: streamlining operations, personalizing customer experiences, and making data driven decisions. But, if you asked many auto execs, there is one issue that holds them back - fear of AI hallucinations. AI hallucinations refer to the tendency of
- [Creditor Accurately Reported Repossession to Credit Reporting Agencies After Car Was Towed](https://nonprimetimes.com/creditor-accurately-reported-repossession-to-credit-reporting-agencies-after-car-was-towed/) - When you think of the reasons a creditor might repossess a car in which it has a security interest, you probably think of the most likely scenario: the car owner defaults on car payments. A creditor, however, usually also has the right to repossess a car on which it has a lien in other instances. In one Florida case, a creditor repossessed a car because the car had been towed and was in the towing company's possession for months. According to the reported opinion, the car's owner did not dispute the repossession. Instead, the car owner disputed the way the repossession was reported on her credit report. Let's see what happened.
- [Editor’s Note: Welcome to the NEW Non-Prime Times](https://nonprimetimes.com/editors-note-welcome-to-the-new-non-prime-times/) - For over 12 years, Non-Prime Times has served as the voice of the non-prime auto finance industry—first as a print-only publication, then expanding into digital alongside print, and now stepping fully into the future as an all-digital media platform. Each stage of our evolution has been driven by one purpose: to better serve the professionals who power this industry.
- [Creditors' Rights and the Constitution: A Difficult (But Not Impossible) Connection to Make](https://nonprimetimes.com/creditors-rights-and-the-constitution-a-difficult-but-not-impossible-connection-to-make/) - You may not associate creditors' rights with the United States Constitution. After all, when people think of constitutional rights, they generally think of free speech, freedom of the press, trial by jury, etc. The Constitution also protects certain property rights, though, which means that creditors may find it relevant in some cases. For example, the
- [How Can Subprime Lenders Make The Illusion Of Digital Maturity A Reality?](https://nonprimetimes.com/how-can-subprime-lenders-make-the-illusion-of-digital-maturity-a-reality/) - Despite widespread adoption of e-signatures, the auto finance industry is still far from realizing true digital transformation. The real opportunity lies not just in digitizing the consumer-facing signature but in reimagining the entire subprime lending lifecycle—aligning seamless digital experiences for consumers with highly efficient, automated back-end operations. This holistic approach is what delivers operational excellence, accelerates deal closures, and unlocks significant value for both dealers and subprime lenders.
- [Accelerating the Future: Why Subprime Lenders Must Embrace Digitalization for Securitized Loans](https://nonprimetimes.com/accelerating-the-future-why-subprime-lenders-must-embrace-digitalization-for-securitized-loans/) - For many subprime lenders today, as the volume and complexity of auto loan securitizations continue to fluctuate, the importance of transitioning from paper-based processes to digital workflows has never been more urgent. This shift has operational benefits, but it is also a strategic necessity that directly impacts efficiency, transparency, and competitiveness in today’s changing financial
- [The FTC's Unwavering Gaze: Why Subprime Lenders Can't Afford Complacency on Cybersecurity](https://nonprimetimes.com/the-ftcs-unwavering-gaze-why-subprime-lenders-cant-afford-complacency-on-cybersecurity/) - For years, the subprime industry has navigated a complex landscape of regulations, from sales practices to lending laws. Yet, a new, intensified focus from the Federal Trade Commission (FTC) on data security and safeguards is rapidly emerging as a paramount concern. While some subprime lenders and dealerships may harbor a false sense of security, believing
- [Agora Data Achieves Milestone with First Rated Securitization](https://nonprimetimes.com/agora-data-achieves-milestone-with-first-rated-securitization/) - ARLINGTON, TX, June 10, 2025 – Agora Data, Inc. (“Agora”), a leading fintech innovator of advanced capital solutions in subprime and non-prime consumer finance, proudly announces the successful completion of its first rated asset-backed securitization, a $112 million transaction. This milestone accomplishment strengthens Agora’s position in the multi-billion-dollar public capital markets and fuels its strategic
- [NAF Association Announces Newly Elected Directors and 2025 Executive Officers](https://nonprimetimes.com/naf-association-announces-newly-elected-directors-and-2025-executive-officers/) - Guiding the Industry Forward Through Strong Governance and Collaborative Leadership TALLAHASSEE, FLORIDA, JUNE 9, 2025 — The National Automotive Finance (NAF) Association is pleased to announce the election of five new members to its Board of Directors, each beginning a two-year term following a vote held at the Annual Membership Meeting during the 2025 NAF
- [Smarter Verification, Safer Transactions: A Path Forward for Subprime Auto Fraud Prevention](https://nonprimetimes.com/smarter-verification-safer-transactions-a-path-forward-for-subprime-auto-fraud-prevention/) - With today’s “always connected” digital economy, identity is currency. For the automotive industry—spanning rentals, dealerships, insurance providers, and especially subprime financing institutions—that currency is increasingly being challenged. The numbers are staggering with U.S. subprime lenders facing an estimated $9.2 billion in fraud loss exposure.1 This surge in identity-based fraud is not only draining revenue but
- [NAF2025 Recap: Empowering the Auto Finance Community Through Connection, Education, and Innovation](https://nonprimetimes.com/naf2025-recap-empowering-the-auto-finance-community-through-connection-education-and-innovation/) - Empowering the Auto Finance Community Through Connection, Education, and Innovation The 2025 NAF Annual Conference kicked off June 4 with a warm welcome, setting the tone for three days of learning, collaboration, and inspiration. Concluding June 6 in Plano, Texas, the event left attendees informed, energized, and ready to shape the future of non-prime auto
- [Informed.IQ and Suncoast Credit Union Partner to Accelerate Funding and Dealer Satisfaction Through Low-Lift AI Integration](https://nonprimetimes.com/informed-iq-and-suncoast-credit-union-partner-to-accelerate-funding-and-dealer-satisfaction-through-low-lift-ai-integration/) - Tampa, FL – May 13, 2025 – Informed.IQ, a leader in AI automation for auto finance, announces a partnership with Suncoast Credit Union, Florida’s largest credit union, to enhance funding efficiency and dealer satisfaction—without the need for heavy tech implementation. This collaboration leverages Informed’s VerifyIQ funding analyst platform to support Suncoast’s operational goals while aligning
- [Credit Report Errors Happen – How Can Auto Lenders Quickly Resolve Consumer Disputes or Prevent Them in the First Place?](https://nonprimetimes.com/credit-report-errors-happen-how-can-auto-lenders-quickly-resolve-consumer-disputes-or-prevent-them-in-the-first-place/) - Common Credit Report Errors in Auto Finance Credit report errors can occur in several ways within the auto finance ecosystem: Dealer-originated errors often begin at the point of sale when customer information is collected incorrectly or incompletely. Dealership staff may inadvertently record incorrect personal information or vehicle details that propagate through the lending system. Lender-originated
- [NAF Association Announces 2025 Industry Award Recipients: Gary Perdue and Suzi Straffon Honored for Lifetime and Leadership Contributions to Non-Prime Auto Finance](https://nonprimetimes.com/naf-association-announces-2025-industry-award-recipients-gary-perdue-and-suzi-straffon-honored-for-lifetime-and-leadership-contributions-to-non-prime-auto-finance/) - FOR IMMEDIATE RELEASE May 23, 2025 Tallahassee, FL – The National Automotive Finance (NAF) Association proudly announces the recipients of its prestigious 2025 industry awards, celebrating individuals who have made remarkable and lasting contributions to the non-prime auto finance sector.Gary Perdue, President of Peritus Portfolio Services, has been selected as the 2025 recipient of the
- [Is Your Chatbot Helping You Manage Subprime Risk Effectively?](https://nonprimetimes.com/chatbot-risk/) - It has been widely documented that AI is changing the face of subprime lending, but now new details are emerging of just how vast and far-reaching this evolution is taking place. Today, there are also specific steps AI is taking in the overall risk management and customer experience aspects of lending, and this has stark
- [Fragmented Technology Systems Frustrate Subprime Auto Lenders and Dealers, Leading to Lost Time and Revenue](https://nonprimetimes.com/fragmented-technology-systems-frustrate-subprime-auto-lenders-and-dealers-leading-to-lost-time-and-revenue/) - Today’s subprime auto lenders and dealers face a myriad of frustrations, challenges, and obstacles, particularly tied to the lengthy transaction times for sales transactions with car shoppers. The efficiency of these transactions is paramount, especially in light of current tariffs that pose a significant threat to the bottom line. Subprime lenders and dealers must ensure
- [OttoMoto® and Axos Bank Unveil Game-Changing Automotive Lending Partnership at MeridianLink Live 2025 ](https://nonprimetimes.com/ottomoto-and-axos-bank-unveil-game-changing-automotive-lending-partnership-at-meridianlink-live-2025/) - [Orlando, FL, – MeridianLink Live Conference] – OttoMoto, the leading embedded lending platform, today announced a strategic partnership with Axos Bank to revolutionize the automotive lending experience. This collaboration, revealed during MeridianLink Live‘s annual conference, integrates OttoMoto’s innovative embedded lending platform into Axos Bank’s financing solutions to create a seamless, efficient dealer onboarding experience for automotive dealers. The partnership
- [Agora Data’s President & COO Matt Burke Honored in Dallas Business Journal’s 2025 40 Under 40 for Fintech Innovation](https://nonprimetimes.com/agora-datas-president-coo-matt-burke-honored-in-dallas-business-journals-2025-40-under-40-for-fintech-innovation/) - ARLINGTON, TX, April 29, 2025 — Matt Burke, President and COO of Agora Data, Inc., a leading fintech innovator in auto finance, has been named to the Dallas Business Journal’s 2025 40 Under 40 list for his transformative leadership and contributions to the consumer finance industry. Agora Data, Inc. is a leading fintech platform that
- [Deciphering Q1 Auto Finance Trends: Implications for Subprime Lenders and Dealers Amid Mixed Data](https://nonprimetimes.com/deciphering-q1-auto-finance-trends-implications-for-subprime-lenders-and-dealers-amid-mixed-data/) - The first quarter of 2025 has delivered new insights into the ongoing digital transformation within the auto finance sector. The Q1 Auto Finance Digital Transformation Index data reveals a continued upward trajectory in the adoption of digital processes, particularly in eContracting and securitization markets. Following are several key trends observed in the first quarter along
- [Legislating the Drive: What State Lawmakers Have Planned for Regulating the Sale and Financing of Voluntary Protection Products](https://nonprimetimes.com/legislating-the-drive-what-state-lawmakers-have-planned-for-regulating-the-sale-and-financing-of-voluntary-protection-products/) - With the change in administration, the general consensus is that consumer regulatory oversight will increasingly shift from federal agencies to the states. For those offering consumer financial services and products, including auto dealers and finance and insurance providers, understanding where state regulators are directing their attention is crucial for mitigating compliance risks. Recent state initiatives
- [The CFPB is on Life Support, but Compliance Shouldn’t Be](https://nonprimetimes.com/the-cfpb-is-on-life-support-but-compliance-shouldnt-be/) - In recent weeks, the Trump administration has significantly reduced funding for federal financial regulators. The Consumer Financial Protection Bureau (CFPB) is struggling to operate, with its staff unable to access their headquarters, supervisory exams suspended, and enforcement cases being abandoned. The Federal Deposit Insurance Corporation (FDIC) fired 700 employees on the last day of February.1
- [Three Years, Three Lessons in Leadership: Reflections on My Time with the NAF Association](https://nonprimetimes.com/three-years-three-lessons-in-leadership-reflections-on-my-time-with-the-naf-association/) - Three years ago, I took a leap of faith and stepped into my role as the Executive Director with the NAF Association. What began as a daunting challenge has turned into one of the most rewarding experiences of my professional career. The path hasn’t always been smooth – unexpected twists and turns are inevitable –
- [The Looming Threat of Deepfakes: A New Era of Financial Fraud ](https://nonprimetimes.com/the-looming-threat-of-deepfakes-a-new-era-of-financial-fraud/) - In recent years, while AI has empowered lenders to enhance their businesses, it has also provided fraudsters with sophisticated tools to perpetrate financial fraud. One of the most concerning developments is the use of generative AI techniques, including deepfakes, to create counterfeit documents. Deepfakes, short for "deep learning fakes," enable fraudsters to convincingly manipulate images and
- [PassTime and PayNearMe Enhance Partnership with Integrated Text Payments](https://nonprimetimes.com/passtime-and-paynearme-enhance-partnership-with-integrated-text-payments/) - LITTLETON, Colorado—March 25, 2025—PassTime, a leading provider of asset tracking solutions announced today that it has expanded its integrated solutions with PayNearMe, the fintech company bringing progress to payments. The upgraded integration for customers in the auto finance industry will incorporate text payment options for consumers. PassTime and PayNearMe have provided integrated solutions in payment
- [What’s Preventing More Subprime Lenders from Additional Cyber Defense?](https://nonprimetimes.com/whats-preventing-more-subprime-lenders-from-additional-cyber-defense/) - Sure, technology is rapidly advancing the automotive retail and subprime lending industries, but this evolution has also brought about new challenges in the areas of cybersecurity. The ransomware event of the summer of 2024 made many headlines, and since then the entire industry is taking a closer look at digital security. Even with this increased
- [Alfa Announces Record-Breaking 2024 Results](https://nonprimetimes.com/alfa-announces-record-breaking-2024-results/) - Alfa, a leading developer of software for the automotive finance industry, last week reported its audited results for the 12 months ended 31 December 2024. The year marked significant achievements across financial performance, strategic growth and innovation.Underscoring strong market endorsement and expanding its customer base, Alfa secured eight new customer wins and retains a robust
- [Fair Lending and Advanced Technologies: What the CFPB Thinks — or Thought](https://nonprimetimes.com/fair-lending-and-advanced-technologies-what-the-cfpb-thinks-or-thought/) - On the first full day of the new presidential administration, the Consumer FinancialProtection Bureau released the Winter 2025 issue of Supervisory Highlights. It was aspecial edition on "advanced technologies" used by creditors in credit decisioningprocesses, with a focus on avoiding illegal discrimination. During my initial read, this publication seemed like a potentially useful discussion ofpast
- [Navigating Change: The 2024 Elections and What’s Next For the Auto Finance Industry](https://nonprimetimes.com/navigating-change-the-2024-elections-and-whats-next-for-the-auto-finance-industry/) - The results from the 2024 Elections caused the federal regulatory pendulum to swing back the other direction with profound changes in the White House, in Congress, at the Consumer Financial Protection Bureau, and at the Federal Trade Commission. These changes brought about further regulatory and policy transformations. In this article, we’ll discuss some of those
- [Protective Asset Protection Unveils Innovative DOWC Re Program](https://nonprimetimes.com/protective-asset-protection-unveils-innovative-dowc-re-program/) - ST. LOUIS (March 6, 2025) – Protective Asset Protection is unveiling another wealth-building program option with its groundbreaking Protective DOWC Re Program. This innovative solution merges the best of traditional reinsurance with the benefits of a Protective Dealer Owned Warranty Company (DOWC), giving auto dealers a powerful new tool to supercharge their wealth-building strategies. Click
- [Resolvion Appoints Darren Stavely as Chief Operating Officer to Drive Operational Excellence and Growth](https://nonprimetimes.com/resolvion-appoints-darren-stavely-as-chief-operating-officer-to-drive-operational-excellence-and-growth/) - Charlotte, NC – [Date] – Resolvion, one of the nation’s largest repossession management companies, has appointed Darren Stavely as its new Chief Operating Officer (COO). With more than 20 years of experience in operations, finance, and customer service, Stavely brings a wealth of expertise in optimizing performance, enhancing customer experience, and implementing process improvements— key
- [How More Subprime Lenders are “Pledging” Electronic Loan Assets](https://nonprimetimes.com/how-more-subprime-lenders-are-pledging-electronic-loan-assets/) - Subprime lenders today are constantly seeking innovative ways to optimize their liquidity and capital utilization strategies. One such method that has gained significant traction, particularly in the auto loan sector, is the practice of pledging electronic originated assets to the Federal Reserve. This process, while not new, has taken on renewed importance in the digital
- [Agora Data Expands into Powersports with $12 Million Model Finance Company Transaction](https://nonprimetimes.com/agora-data-expands-into-powersports-with-12-million-model-finance-company-transaction/) - ARLINGTON, Texas, Feb. 25, 2025 /PRNewswire/ -- Agora Data, Inc. ("Agora"), a leading consumer fintech company specializing in advanced capital solutions and AI-driven loan performance analytics, has completed a $12 million transaction providing liquidity for Model Finance Company, a powersports finance company. This marks Agora's first transaction in the powersports sector, opening doors for further expansion
- [Fasten Your Seatbelts: The Key Trends Shaping Non-Prime Auto Finance in 2025](https://nonprimetimes.com/fasten-your-seatbelts-the-key-trends-shaping-non-prime-auto-finance-in-2025/) - The non-prime auto finance industry is no stranger to uncertainty, and 2025 is shaping up to be another year of change. From shifting regulatory landscapes to economic pressures and evolving market dynamics, finance companies need to stay sharp and adaptable.So, what’s ahead? Let’s dive into the key trends shaping the road ahead.Regulatory Shakeups: A New
- [Understanding How the U.S. Treasury Views the Use of AI in Sub-prime Finance](https://nonprimetimes.com/understanding-how-the-u-s-treasury-views-the-use-of-ai-in-sub-prime-finance/) - On December 19, 2024, the U.S. Department of the Treasury published a comprehensive report examining the applications, benefits, and challenges of Artificial Intelligence (AI) in the financial services sector. This report expands on the Treasury's previous research, including its March 2024 analysis of AI-related cybersecurity risks, and incorporates insights from over 100 stakeholders who responded
- [Protective Asset Protection Unveils its 2024 F&I Annual Update Report](https://nonprimetimes.com/protective-asset-protection-unveils-its-2024-fi-annual-update-report/) - ST. LOUIS - (February 18, 2025) – Protective Asset Protection, a leading provider of F&I programs and services, announced today its highly anticipated 2024 F&I Annual Update Report. The comprehensive report offers valuable insights into the current state of the automotive industry, focusing on F&I product trends and how dealers are maximizing F&I product options
- [2025 Is Set to be the Year of Cyberdefense for Subprime Lenders](https://nonprimetimes.com/2025-is-set-to-be-the-year-of-cyberdefense-for-subprime-lenders/) - Now that 2025 is in full swing, the automotive industry continues to face new challenges and opportunities. As we began to see last summer, the growing importance of cybersecurity is more top-of-mind and will be an even larger priority for subprime lenders and dealerships this year. This shift comes as a response to the evolving
- [A Look At How Auto Lenders and Retailers Continued Back Office Digital Adoption in Q4](https://nonprimetimes.com/a-look-at-how-auto-lenders-and-retailers-continued-back-office-digital-adoption-in-q4/) - The auto finance and retail industries continued to embrace the adoption of digital documentation and back-office strategies toward the end of 2024. This shift of digital business strategies remains essential for lenders and retailers that want to enhance operational efficiency, reduce costs, remain in compliance, and improve customer experiences. The Rise of Digital Documentation in
- [Are You Maximizing the Right “Look Back” Strategy to Set the Course for 2025?](https://nonprimetimes.com/are-you-maximizing-the-right-look-back-strategy-to-set-the-course-for-2025/) - As we enter the first quarter of 2025, subprime lenders are presented with a unique opportunity to revisit and rejuvenate their business and data strategies. The Winter holiday rush is over. Employees have returned from holiday vacations. And it is at precisely this time, when organizations launch new strategic initiatives. New initiatives, fortunately or unfortunately,
- [Trust Science Adds FinTech Veteran Reid Morrison as Chief Technology Officer](https://nonprimetimes.com/trust-science-adds-fintech-veteran-reid-morrison-as-chief-technology-officer/) - January 14, 2025 - Palo Alto, California: Trust Science, a loan applicant sourcing, screening and decisioning platform, today announced the addition of Reid Morrison as Trust Science’s new Chief Technology Officer. Morrison, a senior technology leader with decades of experience spanning Advance Network Solutions/CommerceQuest, Verizon, WellCare, Experian/Clarity, and Salesloft, brings a wealth of expertise in
- [TrueSpot and PassTime Announce Strategic Partnership to Deliver Next-Level Location and Asset Tracking Solutions to Automotive Dealers](https://nonprimetimes.com/truespot-and-passtime-announce-strategic-partnership-to-deliver-next-level-location-and-asset-tracking-solutions-to-automotive-dealers/) - Irving, Texas, and Littleton, Colorado – 1/7/2025 — TrueSpot, an award-winning pioneer in real-time location services (RTLS) technology, and PassTime, an award-winning provider of asset tracking and vehicle monitoring, are pleased to announce a strategic partnership aimed at revolutionizing asset management and location tracking for the automotive industry. This collaboration brings together TrueSpot's multi-patented AQFind Location
- [Effective Communication: What Does It Look Like?](https://nonprimetimes.com/effective-communication-what-does-it-look-like/) - The average employee receives more than 100 emails per day at work—not to mention the hundreds of Slack or Teams messages they reply to during a typical week. On top of that, most adults spend more than 11 hours per day listening to, watching, or reading various forms of media. So how do you cut
- [Working Together: How Subprime Industry Players are Fighting Back Against Digital Fraud](https://nonprimetimes.com/working-together-how-subprime-industry-players-are-fighting-back-against-digital-fraud/) - Three dealers had fallen victim to the same sophisticated fraud scheme in just one week. The story spreading through dealership and subprime lender break rooms across the country is becoming all too familiar. A new wave of digital payment fraud has hit the auto industry hard, with a particularly nasty scheme targeting Chinese-speaking communities through
- [Understanding the Benefits of Today’s Advanced Technology When Subprime Lenders and Dealers Leverage Direct-From-Consumer Vehicle Sourcing](https://nonprimetimes.com/understanding-the-benefits-of-todays-advanced-technology-when-subprime-lenders-and-dealers-leverage-direct-from-consumer-vehicle-sourcing/) - The subprime finance landscape has undergone significant change in recent years, with lenders facing new challenges with their loan origination and portfolio management and fraud reduction strategies. Today’s subprime lending challenges require innovative solutions that leverage sophisticated, real-time technology. Subprime lenders and their dealership partners realize they need to explore AI-powered digital platforms and secure
- [Safeguarding Customer Data: The Critical Role of Encryption for Subprime Lenders](https://nonprimetimes.com/safeguarding-customer-data-the-critical-role-of-encryption-for-subprime-lenders/) - The automotive industry faces unprecedented challenges in protecting customer data privacy. As vehicle transactions increasingly move online, and dealers and subprime lenders collect more personal information, the need for robust security measures has never been more critical. Central to this process is the use of encryption in safeguarding customer data in automotive lending to avoid
- [Agora Data Fuels United Consumer Finance with Innovative Funding](https://nonprimetimes.com/agora-data-fuels-united-consumer-finance-with-innovative-funding/) - ARLINGTON, Texas, Nov. 26, 2024 /PRNewswire/ -- Agora Data, Inc., a leading consumer fintech company delivering cutting-edge technology, capital solutions, and robust loan performance analytics for the subprime to non-prime market, recently completed a $24 million transaction for United Consumer Finance, an indirect auto finance company that is aligning strategic resources for future growth. This innovative
- [A Season of Thanksgiving: Celebrating Our Community and Inviting New Members to the Table](https://nonprimetimes.com/a-season-of-thanksgiving-celebrating-our-community-and-inviting-new-members-to-the-table/) - As we move into the season of Thanksgiving, the NAF Association team is filled with gratitude for our incredible network of professionals within the non-prime auto finance industry – and it begins with you, our members. This year, we’re especially mindful of the strength, collaboration, and knowledge our community brings to a post-election regulatory landscape,
- [Understanding Section 1071 of the Dodd-Frank Act: What Subprime Lenders Need to Know](https://nonprimetimes.com/understanding-section-1071-of-the-dodd-frank-act-what-subprime-lenders-need-to-know/) - Subprime auto lenders across the U.S. must prepare for the forthcoming compliance requirements tied to Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Section 1071”). Enacted as part of the financial reform package following the 2008 financial crisis, Section 1071 aims to promote transparency and fairness in lending practices by requiring
- [From Rates to Refunds: Tips to Accommodate a Subprime Refinancing Bump in 2025](https://nonprimetimes.com/from-rates-to-refunds-tips-to-accommodate-a-subprime-refinancing-bump-in-2025/) - As we approach 2025, the subprime lending landscape is poised for a significant shift, driven by the Federal Reserve's interest rate reductions in the latter half of 2024. These rate cuts are expected to sow the seeds for a bump in auto loan refinancing activity, presenting both opportunities and challenges for lenders in the coming
- [Navigating the Future of Remote Work: Trends & Innovations](https://nonprimetimes.com/navigating-the-future-of-remote-work-trends-innovations/) - How are your teams currently working? Are they fully remote, entirely in the office, or adopting a hybrid model? In 2020, the need for social distancing during the COVID-19 pandemic pushed non-essential workers out of the office and into their homes. Many companies continued with remote work policies afterward. However, this year, there has been
- [NAF Association Hosts Compliance Champions Workshop for Auto Finance Professionals](https://nonprimetimes.com/naf-association-hosts-compliance-champions-workshop-for-auto-finance-professionals/) - The National Automotive Finance (NAF) Association gathered more than 50 auto finance professionals this week in Irving, Texas, for its Compliance Champions Workshop. Attendees engaged in a comprehensive agenda designed to foster learning, share insights, and enable open discussions. The workshop featured a lineup of distinguished speakers, including a team of attorneys from the Hudson
- [Are Subprime Lenders Prepared for a Potential Rise in Auto Loan Refinancing by Q1 2025](https://nonprimetimes.com/are-subprime-lenders-prepared-for-a-potential-rise-in-auto-loan-refinancing-by-q1-2025/) - As we approach 2025, subprime auto lenders are keeping a close eye on the reduction of interest rates. With economic forecasts indicating additional rate reductions following the Fed’s recent decision to begin lowering, the subprime industry is preparing for a likely uptick in refinancing demand. Historically, when interest rates fall, consumers seek opportunities to reduce
- [New AI-powered Platform to Transform the Auto and Equipment Buying, Leasing and Financing Experience](https://nonprimetimes.com/new-ai-powered-platform-to-transform-the-auto-and-equipment-buying-leasing-and-financing-experience/) - ENCINO, Calif., Oct. 08, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), the global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, announced today its new unified Transcend Platform – an AI-powered digital retail and asset finance solution for automotive and equipment OEMs, auto captives, commercial lenders, dealers, brokers and
- [When Is a Sale Final? Not Always as Early as You'd Like It to Be](https://nonprimetimes.com/when-is-a-sale-final-not-always-as-early-as-youd-like-it-to-be/) - One of the first things I learned in my first-year contracts class in law school was the Uniform Commercial Code. Specifically, the class covered Article 2 of the UCC, which governs sales of goods, including motor vehicles. Though the UCC is (oddly enough) not entirely uniform among states, the differences among different states' versions of
- [Agora Data Unveils Financial Institutions Group](https://nonprimetimes.com/agora-data-unveils-financial-institutions-group/) - ARLINGTON, Texas, Oct. 8, 2024 /PRNewswire/ -- Agora Data, Inc., a leading consumer fintech company providing innovative technology, capital solutions, and advanced loan performance analytics, has announced the formation of its new Financial Institutions Group. This new division is tailored to serve finance companies that specialize in addressing the needs of the subprime to non-prime market.
- [Based on CFPB Documented Consumer Complaints, are Junk Fees Really in the Spotlight?](https://nonprimetimes.com/based-on-cfpb-documented-consumer-complaints-are-junk-fees-really-in-the-spotlight/) - If you are a subprime auto lender, it’s worth keeping your eye on the complaints consumers lodge with the Consumer Financial Protection Bureau (CFPB), even if your company does not participate in the CFPB’s complaint portal. For those unfamiliar, the CFPB’s Office of Consumer Response administers a statutorily-mandated portal to collect, investigate and respond to
- [Alfa Launches Alfa Systems 6, Setting New Standards in Auto Finance Technology](https://nonprimetimes.com/alfa-launches-alfa-systems-6-setting-new-standards-in-auto-finance-technology/) - Alfa, a leading provider of SaaS solutions for the global auto finance industry, has announced the full release of Alfa Systems 6.Alfa Systems 6 introduces a host of features and innovations designed to bring heightened productivity to providers, opening up new revenue streams, and elevating the customer experience. Announced in 2023, it is built on
- [Trust Science Earns Fastest Growing Company 2024 Award](https://nonprimetimes.com/trust-science-earns-fastest-growing-company-2024-award/) - For the third consecutive year, Trust Science achieved another top-100 spot on the Globe and Mail’s list of over 400 Top Growing Companies in 2024 after coming in #20 in both 2022 and 2023. In the Fintech subset of companies, Trust Science ranked #9 Fastest Growing. Trust Science earned spot #94 on the 416-company list
- [Agora Data Sponsors Automotive News' 2024 'Best Dealerships To Work For'](https://nonprimetimes.com/agora-data-sponsors-automotive-news-2024-best-dealerships-to-work-for/) - ARLINGTON, Texas, Sept. 17, 2024 /PRNewswire/ -- Agora Data, a leading fintech company specializing in delivering technology, capital, and guidance with predictable loan performance and analytics tailored for the subprime automotive sector, is pleased to be a Gold sponsor for the 2024 'Best Dealerships To Work For' annual program and event. The awards ceremony will
- [Why the Future of Lender Data Privacy Mirrors the Stringent Measures in Finance and Healthcare](https://nonprimetimes.com/why-the-future-of-lender-data-privacy-mirrors-the-stringent-measures-in-finance-and-healthcare/) - As data breaches and cyber threats are more prevalent than ever in the subprime auto lender industry, the importance of data privacy and the sense of urgency of implementing solutions cannot be overstated. Industries like finance and healthcare have long understood the critical need to safeguard sensitive information, and they have established strict guidelines, laws,
- [Leaders Gather at 2024 NAF Association C-Suite Retreat to Address Challenges and Opportunities in Auto Finance](https://nonprimetimes.com/leaders-gather-at-2024-naf-association-c-suite-retreat-to-address-challenges-and-opportunities-in-auto-finance/) - TALLAHASSEE, FL, September 17, 2024 – The National Auto Finance (NAF) Association hosted its exclusive 2024 C-Suite Retreat last week, bringing together top executives from across the auto finance industry to strategize on the future of the non-prime sector for this landmark event. Held in San Antonio, TX, the Retreat offered a rare opportunity for
- [Alfa Reveals ‘Collaborative Ecosystem’, the Final Pillar in Alfa Systems 6](https://nonprimetimes.com/alfa-reveals-collaborative-ecosystem-the-final-pillar-in-alfa-systems-6/) - Alfa, a leader in software for auto finance, has announced the release of Collaborative Ecosystem, the sixth of six pillars in Alfa Systems 6, a breakthrough iteration of its SaaS platform.Collaborative Ecosystem in Alfa Systems 6 allows customers to tap into Alfa’s expertise and best practices to source and integrate with new technologies, creating customized,
- [Why Chatbots Might Be Failing for Subprime Lenders](https://nonprimetimes.com/why-chatbots-might-be-failing-for-subprime-lenders/) - As we head into the last few months of 2024, adoption of artificial intelligence (AI) technologies like chatbots has become increasingly significant. Subprime lenders are finding that integrating chatbots into their operations offers many benefits, ranging from 24/7 customer service to cost savings and improved customer experiences. However, to fully leverage the potential of AI
- [Agora Data Secures Additional Funding from Waterfall Asset Management](https://nonprimetimes.com/agora-data-secures-additional-funding-from-waterfall-asset-management/) - ARLINGTON, Texas, Sept. 10, 2024 /PRNewswire/ -- Agora Data, Inc., a leading fintech company dedicated to empowering car dealers with finance company-level strength while maintaining their existing processes, is thrilled to announce additional funding capacity from Waterfall Asset Management for up to $100 million. This new mezzanine line of credit boosts Agora's ability to support
- [Where did the Sub-prime Industry See Digital Transformation Improvements in the Second Quarter?](https://nonprimetimes.com/where-did-the-sub-prime-industry-see-digital-transformation-improvements-in-the-second-quarter/) - Digital transformation in the subprime industry has largely focused on the consumer-facing side, modernizing the way customers search for, evaluate, finance and purchase vehicles. Online platforms have made car shopping more accessible, allowing consumers to compare models, read reviews, and even complete transactions from the comfort of their homes. Virtual showrooms and AI-driven chatbots are
- [CFPB Issues Consent Order Related to Bank's Duplicative Force-Placed Insurance Policies](https://nonprimetimes.com/cfpb-issues-consent-order-related-to-banksduplicative-force-placed-insurance-policies/) - On July 9, 2024, the Consumer Financial Protection Bureau issued a consent order against a nationally chartered bank that, among other things, includes a number of allegations related to the bank's policies regarding force-placed collateral protection insurance or FPI. The consent order serves as a comprehensive checklist of the CFPB's compliance expectations for the policies
- [CFPB's Recent Supervisory Highlights Edition Reminds You to Keep Consumers Informed](https://nonprimetimes.com/cfpbs-recent-supervisory-highlights-edition-reminds-you-to-keep-consumers-informed/) - The Consumer Financial Protection Bureau recently released its 34th issue of Supervisory Highlights, a periodic publication that summarizes the CFPB's findings from examinations of entities that it supervises. This issue focuses on debt collection and related areas of the consumer financial services industry. According to the Highlights, some auto financing servicers failed to notify consumers
- [Cyber Threats will Persist until Sub-prime Lenders and Dealers Prioritize Secure Digital Transport of Data](https://nonprimetimes.com/cyber-threats-will-persist-until-sub-prime-lenders-and-dealers-prioritize-secure-digital-transport-of-data/) - In the wake of recent cyber-attack threats and ransomware events, data privacy concerns have never been more top-of-mind for subprime lenders, auto retailers and the entire industry. As subprime lenders increasingly rely on digital platforms for customer transactions, especially coming out of the pandemic, the need for robust data privacy strategies has become paramount. However,
- [Agora Data's Chad Stilwell Named Tech Titans Finalist for Emerging Company CIO/CTO Award](https://nonprimetimes.com/agora-datas-chad-stilwell-named-tech-titans-finalist-for-emerging-company-cio-cto-award/) - ARLINGTON, Texas, Aug. 13, 2024 /PRNewswire/ Agora Data's Chad Stilwell has been named a finalist in the Emerging Company CIO/CTO category of the 2024 Annual Tech Titans Awards presented by University of Texas at Dallas. The awards will be announced on September 20th at the annual awards presentation at the Renaissance Addison Hotel from 5 –
- [How are Auto Insurers and Subprime Lenders Leveraging Advanced Data Scoring to Provide More Custom Packages](https://nonprimetimes.com/how-are-auto-insurers-and-subprime-lenders-leveraging-advanced-data-scoring-to-provide-more-custom-packages/) - Today’s automotive and auto insurance industry continues to evolve, driven by the integration of advanced data, analytics, and data scoring technologies. This shift is enabling insurance companies to offer more personalized, affordable, and fair insurance rates alongside offers made by subprime lenders.These lenders are working more closely with insurance partners to help customers shop for
- [NAF Association Announces Upcoming Power 30 Education Series](https://nonprimetimes.com/naf-association-announces-upcoming-power-30-education-series/) - [Tallahassee, FL] – The NAF Association is excited to present its upcoming Power 30 Education Series, a set of informative webinars designed exclusively for our members to keep you informed on key industry trends and regulatory updates. Presented in partnership with Hudson Cook, LLP, these sessions are available at no cost to all employees of
- [NETSOL signs $16 Million Agreement with Major Automaker to Revolutionize Digital Car Buying and Leasing Experience in the United States](https://nonprimetimes.com/netsol-signs-16-million-agreement-with-major-automaker-to-revolutionize-digital-car-buying-and-leasing-experience-in-the-united-states/) - ENCINO, Calif., July 16, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, has signed an agreement with a major automaker to transform its US dealership operations. The $16 million, five-year contract is for the customization, implementation, deployment, and ongoing SaaS
- [Unlocking Insights: The Essential 2024 Non-Prime Auto Financing Survey Report](https://nonprimetimes.com/unlocking-insights-the-essential-2024-non-prime-auto-financing-survey-report/) - The non-prime auto financing sector has undergone significant shifts over the past two years, driven by various factors ranging from market dynamics to advancements in automation and digitization. To help stakeholders navigate these changes, the 2024 Non-Prime Auto Financing Survey Report, presented in partnership by the National Automotive Finance (NAF) Association and the American Financial
- [Alfa Presents Intelligent Automation in Alfa Systems 6](https://nonprimetimes.com/alfa-presents-intelligent-automation-in-alfa-systems-6/) - Alfa, a leading provider of enterprise software for automotive finance, is proud to announce the launch of Intelligent Automation, the penultimate pillar of six that make up Alfa Systems 6 - a breakthrough iteration of the Alfa Systems software platform. #5 Intelligent Automation harnesses cutting-edge cognitive technologies, including predictive modelling, to empower customers to create
- [PassTime Receives 2024 IoT Evolution Product of the Year Award](https://nonprimetimes.com/passtime-receives-2024-iot-evolution-product-of-the-year-award/) - LITTLETON, CO – July, 23, 2024 – PassTime announced today that Encore has received a 2024 IoT Evolution Product of the Year Award from IoT Evolution World, the leading Web site covering IoT technologies.PassTime Encore is the most trusted wireless GPS solution engineered for effortless asset tracking and protection. With its cutting-edge, self-powered technology, Encore
- [defi SOLUTIONS Announces New Partnership with F&I Sentinel to Bring Comprehensive After-Market Finance and Insurance Compliance to Lenders](https://nonprimetimes.com/defi-solutions-announces-new-partnership-with-fi-sentinel-to-bring-comprehensive-after-market-finance-and-insurance-compliance-to-lenders/) - WESTLAKE, Texas--(BUSINESS WIRE)--defi SOLUTIONS, the leading provider of originations, servicing, and managed servicing software and services, is pleased to announce the addition of F&I Sentinel to the defi family of providers partnering to improve fintech for the lending industry. F&I Sentinel provides technology-enabled risk management solutions for the full lifecycle of automotive finance and insurance
- [Pay Now (or Pay Later), but Later May Cost a Whole Lot More](https://nonprimetimes.com/pay-now-or-pay-later-but-later-may-cost-a-whole-lot-more/) - The Consumer Financial Protection Bureau has long required that an institution within the scope of the CFPB’s supervision or enforcement authority, including both depository institutions like banks and non-depository consumer financial services companies like auto finance companies, develop and maintain a written, sound, and robust compliance management system (CMS) that is integrated into the overall
- [Trust Science and Conecta Marketing Group Partner to Help Lenders Find Invisible Prime Prospects](https://nonprimetimes.com/trust-science-and-conecta-marketing-group-partner-to-help-lenders-find-invisible-prime-prospects/) - Trust Science, a loan applicant sourcing, screening and decisioning platform, and Conecta Marketing Group, a digital marketing and communications platform, announce their strategic partnership. Trust Science's Al-powered credit decisioning platform will enhance Conecta's unified marketing platform to enable clients to find Invisible Prime™ prospects and gain a competitive edge, combining industry-leading credit assessment capabilities with
- [Cure for the Summertime Blues](https://nonprimetimes.com/cure-for-the-summertime-blues/) - Summer has officially arrived and unless you are in the HVAC business or own or operate an RV park, campground, golf course, country club, marina, hotel or motel, you may be about to experience a decrease in demand for your products and services. Summertime can mean reduced website traffic, fewer leads and slower sales due
- [Modernizing Document and Income Verification in Auto Leasing with AI](https://nonprimetimes.com/modernizing-document-and-income-verification-in-auto-leasing-with-ai/) - Vehicle leasing has returned to a spirited level of activity on dealer lots this year. However, leasing requires a close review of a car shopper’s credit; how are dealers properly ensuring they have an accurate income verification to avoid fraudulent activity and other inaccuracies that can lead to future problem with their lender partners, especially
- [How will Dealers Overcome Affordability Challenges to Maximize Summer Sales Opportunities?](https://nonprimetimes.com/how-will-dealers-overcome-affordability-challenges-to-maximize-summer-sales-opportunities/) - July and the Independence Day holiday represents an exciting time for the auto industry, with the summer car sales season in full gear for dealerships and lender partners nationwide and both parties looking to attract customers with incentives, deals and promotions. Much like in recent years though, affordability remains a key issue as the industry
- [The Best Place to Start for Subprime Lenders Moving from Paper-based Document Processes to Digital](https://nonprimetimes.com/the-best-place-to-start-for-subprime-lenders-moving-from-paper-based-document-processes-to-digital/) - The subprime auto lending industry is undergoing a noticeable digitization evolution, driven by advancements in technology and the increasing demand for efficiency and accuracy. Digitizing back-end document workflows, particularly through the integration of AI and automation, are dramatically enhancing operational efficiency, cost reduction, and improvements in customer satisfaction. With interest in digital adoption at all-time
- [PassTime Announces Next Generation TRAX Device](https://nonprimetimes.com/passtime-announces-next-generation-trax-device/) - LITTLETON, Colorado—6/18/2024—PassTime, a leading provider of advanced asset tracking solutions, announced today the launch of TRAX 7, the newest version of the company’s TRAX platform. The TRAX 7 marks one of the most significant enhancements to date of the TRAX platform that PassTime originally launched in 2009. The TRAX platform was developed as a simple-to-use
- [Peritus Portfolio Services Announces the Hiring of Sr. Vice President of Business Development and Marketing](https://nonprimetimes.com/peritus-portfolio-services-announces-the-hiring-of-sr-vice-president-of-business-development-and-marketing/) - Peritus Portfolio Services, the industry leader in custom bankruptcy solutions, this week announced the hiring of Chris Stanley as Sr. Vice President of Business Development and Marketing. Stanley will join the company to focus on helping clients and prospects improve recoveries through Peritus’ efficient and robust recovery strategies.Stanley is an experienced leader and has 20
- [National Automotive Finance (NAF) Association Elects New Officers to Executive Committee](https://nonprimetimes.com/national-automotive-finance-naf-association-elects-new-officers-to-executive-committee/) - TALLAHASSEE, FL, JUNE 11, 2024 – The National Automotive Finance (NAF) Association is pleased to announce the election of new officers to its Executive Committee. These representatives will serve one-year terms, bringing a wealth of experience and dedication to their respective roles. Leading the association as President is Claudia Plascencia, Senior Vice President at Resolvion,
- [Agora Data Launches Capital Program for Small to Mid-Tier Finance Companies](https://nonprimetimes.com/agora-data-launches-capital-program-for-small-to-mid-tier-finance-companies/) - ARLINGTON, Texas, June 11, 2024 /PRNewswire/ -- Agora Data, Inc., a fintech company providing technology, capital, and guidance with predictable loan performance and analytics, has launched a new program catered to meet the needs of small to mid-sized finance companies. This new program combines traditional bulk transactions with on-going flow arrangements. To kick-off the new program,
- [Highlights from the National Automotive Finance (NAF) Association’s 28th Annual Non-Prime Auto Financing Conference](https://nonprimetimes.com/highlights-from-the-national-automotive-finance-naf-associations-28th-annual-non-prime-auto-financing-conference/) - Epic. Innovative. Mind-blowing. Remarkable. Fun. These are just a few words attendees used to describe the recent Non-Prime Auto Financing Conference, the premier annual event for non-prime auto finance community.The 28th Annual Conference provided a wealth of insights and updates on industry trends, regulatory changes, and technological innovations, captivating participants with its thought-provoking presentations and
- [Wolters Kluwer and Informed.IQ Team Together for a Webinar on How Auto Lenders Can Create a Digital Back-Office Ecosystem](https://nonprimetimes.com/wolters-kluwer-and-informed-iq-team-together-for-a-webinar-on-how-auto-lenders-can-create-a-digital-back-office-ecosystem/) - NEW YORK – June 4, 2024 – Wolters Kluwer, a global leader in professional information, software solutions and services, announced today it will make available an educational Webinar to help automotive finance professionals better understand the role AI and automation are now playing in the auto industry. Crossing the chasm into the new digital world:
- [Mid-Conference Summary: The NAF Association’s Non-Prime Auto Financing Conference](https://nonprimetimes.com/mid-conference-summary-the-naf-associations-non-prime-auto-financing-conference/) - The 28th Annual Non-Prime Auto Financing Conference has been an exceptional event so far, filled with insightful discussions, innovative exhibits, and vibrant networking opportunities. Now at the midpoint of the conference, let’s take a moment to recap the highlights and preview the exciting sessions and events ahead.Roundtables and Deep Dives: Collaborative InsightsThe roundtable and deep
- [Protective Asset Protection Consumer F&I Survey Reveals Generational Differences in Research and Shopping F&I Products](https://nonprimetimes.com/protective-asset-protection-consumer-fi-survey-reveals-generational-differences-in-research-and-shopping-fi-products/) - ST. LOUIS - (June 4, 2024) – Protective Asset Protection, a leading provider of F&I programs and services, has announced the results of a recent survey conducted to better understand consumer perspectives on automotive F&I products, as well as the factors that impact F&I purchase decisions when shopping for a vehicle at a dealership.The online
- [How Are Stagnant Auto Sales Impacting Organizational Digital Transformation Strategies?](https://nonprimetimes.com/how-are-stagnant-auto-sales-impacting-organizational-digital-transformation-strategies/) - As we near the mid-way point of the 2024 year, there are many fascinating characteristics of today’s auto industry. Some of these are defined by the broader macro economy, and yet others are a result of organizational evolutions continuing to take place from ongoing lessons learned during the pandemic. Many industry observers continue to believe
- [Onsite Registration Available At Next Week's Non-Prime Auto Financing Conference](https://nonprimetimes.com/onsite-registration-available-at-next-weeks-non-prime-auto-financing-conference/) - Exciting news for professionals interested in attending the upcoming 28th Annual Non-Prime Auto Financing Conference! We are pleased to announce that onsite registration will be available next week, June 5 – 7, 2024. This conference, a premier event in the industry, brings together leaders and experts to discuss trends, challenges, and opportunities in the non-prime auto
- [How Can Lenders Ensure SLA Accuracy, Automation and Compliance in Today’s Digital Era?](https://nonprimetimes.com/how-can-lenders-ensure-sla-accuracy-automation-and-compliance-in-todays-digital-era/) - Recent advancements in AI automation are changing lenders’ expectations of vendor performance. Traditional enterprise software deployments require service level agreements (SLAs) that focus on system uptime and response times. These static metrics are insufficient when deploying new, enterprise AI systems, which must continually adapt to changing real-world data. To maintain sustainable, high quality performance, lenders
- [Alfa Systems 6 Moves Ahead with its Fourth Pillar, Scalability](https://nonprimetimes.com/alfa-systems-6-moves-ahead-with-its-fourth-pillar-scalability/) - Alfa, a leading provider of enterprise software for the automotive finance industry, has announced the release of Scalability, the fourth of six releases that make up Alfa Systems 6 - a breakthrough iteration of its Alfa Systems software platform.Providing “truly always-on, financially coherent operation - without restriction”, Scalability in Alfa Systems 6 presents leading-edge functionality
- [CFPB's Supervisory Highlights Cite Auto Loan Furnishers for Allegedly Deficient Credit Reporting Practices](https://nonprimetimes.com/cfpbs-supervisory-highlights-cite-auto-loan-furnishers-for-allegedly-deficient-credit-reporting-practices/) - The Consumer Financial Protection Bureau recently released the Spring 2024 edition of its Supervisory Highlights. This edition focuses on alleged violations of credit reporting requirements, both by consumer reporting companies and by furnishers. The Highlights detail what the CFPB alleges to be several trends of violations of the Fair Credit Reporting Act and Regulation V
- ['Someone Has to do Something at Some Point in Time’](https://nonprimetimes.com/someone-has-to-do-something-at-some-point-in-time/) - Do you stop at stop signs on private property? I don’t think you can get a ticket if you don’t…and no one is looking. So, do you stop? There are generally two schools of thought here: Those who are of the philosophy “no cop, not stop” because if enforcement is not immediately visible, the risk
- [LAUNCHER.SOLUTIONS and Gestalt Tech Partner Providing Lenders Enhanced Credit Data Storage, Reporting, and Analytics](https://nonprimetimes.com/launcher-solutions-and-gestalt-tech-partner-providing-lenders-enhanced-credit-data-storage-reporting-and-analytics/) - Jacksonville, FL: LAUNCHER.SOLUTIONS (“Launcher”), a leading SaaS technology provider specializing in automotive and consumer loan originations, is thrilled to announce its integration partnership with Gestalt Tech and its SaaS data warehouse that empowers lenders to take advantage of the market trends in analytics, AI, and automation. This collaboration offers lenders streamlined access to appTRAKER LOS
- [Special Preview of the 2024 Non-Prime Auto Financing Conference](https://nonprimetimes.com/special-preview-of-the-2024-non-prime-auto-financing-conference/) - A BEHIND THE SCENES LOOK AT THE PLANNING OF THE NAF ASSOCIATION’S 28TH ANNUAL CONFERENCE WITH CONFERENCE COMMITTEE MEMBERS: Welcome, Readers, to this special preview of the 2024 Non-Prime Auto Financing Conference! As we gear up for our 28th annual gathering, I am delighted to provide you with a behind-the-scenes look at what's in store
- [EY Announces Steve Burke of Agora Data as an Entrepreneur Of The Year 2024 Southwest Award Finalist](https://nonprimetimes.com/ey-announces-steve-burke-of-agora-data-as-an-entrepreneur-of-the-year-2024-southwest-award-finalist/) - ARLINGTON, Texas, April 30, 2024 /PRNewswire/ -- Ernst & Young LLP (EY US) announced that CEO Steve Burke of Agora Data was named an Entrepreneur Of The Year 2024 Southwest Award finalist. Now in its 38th year, Entrepreneur Of The Year is the preeminent competitive business award for audacious leaders who disrupt markets, revolutionize sectors
- [defi SOLUTIONS Launches Thorough Infrastructure Intrusion Investigation and Refutes Confidential Information Hacking Claims](https://nonprimetimes.com/defi-solutions-launches-thorough-infrastructure-intrusion-investigation-and-refutes-confidential-information-hacking-claims/) - WESTLAKE, Texas-- (BUSINESS WIRE)--defi SOLUTIONS, the leading provider of originations, servicing, and managed servicing software and services, is announcing today an unsuccessful hacking and extortion attempt by a known cybercriminal group. The group, which according to the Cybersecurity Advisory (CSA) has targeted organizations in multiple U.S. critical infrastructure sectors since June 2022, contacted defi through
- [Subprime Lenders Must Share Data and Leverage Fintechs to Fight New AI Fraud Risks](https://nonprimetimes.com/subprime-lenders-must-share-data-and-leverage-fintechs-to-fight-new-ai-fraud-risks/) - Last month, the Department of the Treasury issued a troubling report warning banks they are at-risk of emerging AI fraud threats. The culprit is a failure to collaborate. The report warns that lenders are not sharing “fraud data with each other to the extent that would be needed to train anti-fraud AI models.” This report
- [Safeguarding Auto Dealers and Subprime Lenders: A Comprehensive Layered Approach to Combat Synthetic Identity Fraud](https://nonprimetimes.com/safeguarding-auto-dealers-and-subprime-lenders-a-comprehensive-layered-approach-to-combat-synthetic-identity-fraud/) - Fraud in the automotive industry is increasing at an alarming rate, making it one of the hot topics of discussion at the recent annual auto shows. While many fraud attempts are foiled before they happen, fraudsters continue to get more and more sophisticated at finding weak controls they can pass through with automotive dealers and lenders.
- [Nordis Technologies Expands Western U.S. Production Capabilities with New Las Vegas Facility](https://nonprimetimes.com/nordis-technologies-expands-western-u-s-production-capabilities-with-new-las-vegas-facility/) - CORAL SPRINGS, FL, April 18, 2024 — Nordis Technologies, a fast-growing leader in omnichannel customer communications management and payments technology solutions, has doubled its print production and mail processing capacity in Las Vegas to accommodate its fast growth. After eight years in Nevada, the company staged the move to the new 30,000-square-foot facility with no
- [Where Lenders See Opportunities and Challenges in Adopting More Automation for their Operations](https://nonprimetimes.com/where-lenders-see-opportunities-and-challenges-in-adopting-more-automation-for-their-operations/) - Auto lenders for both prime and subprime audiences recognize the need and importance advanced data technology has on their overall operations, as well as in the accuracy of managing portfolios. Since the pandemic, the integration of artificial intelligence (AI) and advanced data technology has emerged as a competitive strategy for many leading lenders. In fact,
- [Compliance Champions: Cultivating a Culture of Resiliency in Auto Finance](https://nonprimetimes.com/compliance-champions-cultivating-a-culture-of-resiliency-in-auto-finance/) - TALLAHASSEE, FL, APRIL 10, 2024 – In the dynamic realm of auto finance, adherence to regulatory standards is non-negotiable. With each transaction governed by an intricate network of federal and state laws and regulations, financing sources operating in the non-prime market face a unique set of compliance challenges. To equip industry professionals with the necessary
- [Agora Data Welcomes Becky Chernek, Bolstering F&I Expertise in Subprime Automotive Finance Solutions](https://nonprimetimes.com/agora-data-welcomes-becky-chernek-bolstering-fi-expertise-in-subprime-automotive-finance-solutions/) - ARLINGTON, Texas, April 9, 2024 /PRNewswire/ -- Agora Data, a leading fintech company specializing in delivering technology, capital, and guidance with predictable loan performance and analytics tailored for the subprime automotive sector, is pleased to welcome Becky Chernek as Area Sales Manager. With a distinguished background in finance and insurance (F&I), Becky brings invaluable expertise
- [The FTC's CARS Rule and Auto Creditors: Why Covered Dealers Are Not the Only Businesses that Need to Worry About Compliance](https://nonprimetimes.com/the-ftcs-cars-rule-and-auto-creditors-why-covered-dealers-are-not-the-only-businesses-that-need-to-worry-about-compliance/) - The Federal Trade Commission's final trade regulation rule is designed to transform the vehicle shopping and financing experience for auto dealers and consumer customers, but it will not necessarily improve the experience for either group. The FTC has suspended the effective date of the so-called CARS Rule originally set for July 30, 2024, while the
- [Resolvion Welcomes Mike Thomas as New Chief Executive Officer](https://nonprimetimes.com/resolvion-welcomes-mike-thomas-as-new-chief-executive-officer/) - Charlotte, NC, April 1, 2024 – Resolvion, a premier provider of repossession management solutions, is pleased to announce the appointment of Mike Thomas as its Chief Executive Officer. With a distinguished career in the financial services sector, Thomas brings to Resolvion a wealth of experience, notably from his successful tenure from 2015 to 2020, initially
- [Manheim San Antonio Earns defi MANAGED SERVICING Remarketing 2023 Auction of the Year](https://nonprimetimes.com/manheim-san-antonio-earns-defi-managed-servicing-remarketing-2023-auction-of-the-year/) - WESTLAKE, Texas--(BUSINESS WIRE)--defi MANAGED SERVICING Remarketing, the remarketing services of the defi SOLUTIONS platform of products and services, is recognizing the relationship and contributions of partner Manheim San Antonio by bestowing its annual award for Auction of the Year.“Through quality of both service and customer experience offered by Manheim San Antonio our clients’ best interests
- [Informed.IQ Industry Survey Shows Where Improvements are Taking Place In Leveraging Automation and AI for Lender Operational Efficiency](https://nonprimetimes.com/informed-iq-industry-survey-shows-where-improvements-are-taking-place-in-leveraging-automation-and-ai-for-lender-operational-efficiency/) - SAN FRANCISCO – (March 26, 2024) - Informed.IQ, a developer of AI-based software that verifies, streamlines and optimizes loan processing, announced today it recently commissioned an industry-wide survey of auto finance executives to identify the key areas where they are leveraging Artificial Intelligence (AI) and automation into their workflows and processes, taking their pulse on
- [BlytzPay and PassTime Partner to Revolutionize Buy Here Pay Here Sector with Innovative Payment Solutions](https://nonprimetimes.com/blytzpay-and-passtime-partner-to-revolutionize-buy-here-pay-here-sector-with-innovative-payment-solutions/) - Draper, UT - 3/25/24 – In response to the ever-evolving risk management and technical landscape faced by the Buy Here Pay Here (BHPH) sector, BlytzPay and PassTime have announced a strategic partnership to provide dealerships with the most advanced tools for effective cash flow and revenue management. The partnership between BlytzPay, a leader in payments and
- [Why Today’s Leading Auto Lenders are Leveraging AI-Driven Document Intelligence](https://nonprimetimes.com/why-todays-leading-auto-lenders-are-leveraging-ai-driven-document-intelligence/) - As the automotive industry evolves, so do the challenges facing auto lenders. In today's market, lenders are encountering an array of obstacles, from rising competition and shifting consumer preferences to economic uncertainties. In their work to simplify and streamline the complex landscape of automotive financing, automotive lenders and financiers need an automated technology solution that
- [Alfa Introduces Sustainability, the Third Pillar of Alfa Systems 6](https://nonprimetimes.com/alfa-introduces-sustainability-the-third-pillar-of-alfa-systems-6/) - Alfa, a leading provider of technology for automotive finance, today announced the release of Sustainability, the third of six releases that make up Alfa Systems 6 - a breakthrough iteration of its Alfa Systems software platform.Sustainability in Alfa Systems 6 offers powerful new capabilities to address the evolving needs of the auto finance industry, particularly
- [Agora Data Adds $400 Million in Funding Capacity to Better Serve Auto Dealers](https://nonprimetimes.com/agora-data-adds-400-million-in-funding-capacity-to-better-serve-auto-dealers/) - ARLINGTON, Texas , March 19, 2024 /PRNewswire/ -- Agora Data, Inc., a fintech company with its mission to 'enable any car dealer to be a finance company' by providing technology, capital, and guidance with predictable loan performance and analytics, began 2024 with the successful closing of multiple company financial milestones. In three transactions that closed in
- [Getting the Right Things Done](https://nonprimetimes.com/getting-the-right-things-done/) - If you’re like most, unless your vehicle’s fuel gauge goes kaput or is suddenly so out of whack you run out of gas, you probably don’t think about it, much less about how it works.At its simplest: A sensor floats on the surface of the fuel and, depending on its position in the tank, sends
- [Improving Collections Through Intelligent Outsourcing](https://nonprimetimes.com/improving-collections-through-intelligent-outsourcing/) - Collections activities have been growing across North America, manifesting in automotive lending and other areas. According to a recent Fox News report, the amount of auto borrowers who were at least 60 days late on their payments increased to 6.11 percent this past September, creating the highest default rate in close to 30 years. The
- [Smart Loans: How Artificial Intelligence is Reshaping Applicant Verifications for Subprime Lenders](https://nonprimetimes.com/smart-loans-how-artificial-intelligence-is-reshaping-applicant-verifications-for-subprime-lenders/) - In an industry that has embraced technological evolutions, subprime lenders and their dealers are turning to Artificial Intelligence (AI) to enhance operations. One critical area where AI is proving to be indispensable is in applicant verifications. As subprime lenders strive for greater efficiency, accuracy, and risk management, leveraging AI in the verification process has emerged
- [How Sub-prime Auto Lenders Can Have Success Digitizing their Securitized Collateral Assets](https://nonprimetimes.com/how-sub-prime-auto-lenders-can-have-success-digitizing-their-securitized-collateral-assets/) - In the ever-evolving landscape of financial markets, the auto securitization sector stands at the intersection of technological innovation and traditional finance. One of the pivotal advancements shaping this industry is the integration of digital contracting and eVault solutions, a transformative combination suite that is streamlining processes, enhancing efficiency, ensuring compliance, and mitigating operational risks. Auto
- [Gestalt Tech Announces Agreement with TruDecision Inc.](https://nonprimetimes.com/gestalt-tech-announces-agreement-with-trudecision-inc/) - Westlake, TX, February 22, 2024 — Gestalt Tech (Gestalt) has announced that it has entered into an agreement to partner with Irving, TX based TruDecision Inc. (TruDecision) to provide sophisticated analytic tools through their cutting age data warehouse platform. By integrating TruDecision’s suite of analytic tools, Gestalt’s lender clients will have access to customized tools
- [Trust Science Lands FinTech Leader Matt Browning as President to Drive Growth](https://nonprimetimes.com/trust-science-lands-fintech-leader-matt-browning-as-president-to-drive-growth/) - February 21, 2024 – Palo Alto, California: Trust Science, a loan applicant sourcing, screening and decisioning platform, today announced the addition of Matt Browning as Trust Science’s new President. Mr. Browning was recently the Chief Operating Officer at Snap! Finance, a global top-3 lender providing retailers with a secondary finance option to reach the 40%
- [Navigating the Evolution of Auto Finance](https://nonprimetimes.com/navigating-the-evolution-of-auto-finance-why-auto-finance-professionals-should-attend-the-28th-annual-non-prime-auto-financing-annual-conference/) - In recent years, the non-prime auto finance industry has experienced significant shifts and challenges, driven by evolving consumer behaviors, regulatory changes, and technological advancements. Subprime lending remains a vital component of the automotive finance ecosystem, providing access to vehicle ownership for millions of individuals who may otherwise struggle to secure traditional financing.Understanding these dynamics is
- [LAUNCHER.SOLUTIONS and Scienaptic AI Partner to Provide Advanced AI-Powered Credit Underwriting to Lenders](https://nonprimetimes.com/launcher-solutions-and-scienaptic-ai-partner-to-provide-advanced-ai-powered-credit-underwriting-to-lenders/) - Jacksonville, FL: Today, LAUNCHER.SOLUTIONS (“Launcher”) and Scienaptic AI have announced their full integration for mutual lending clients to make more advanced lending decisions by incorporating AI-powered underwriting signals within Launcher’s appTRAKER Loan Origination System (“LOS”).Integrating appTRAKER and AI-powered signals will enable financial institutions to automate their lending, approve more loans, and increase credit availability. The partnership will increase the adoption of AI
- [The Importance of Expanding Personal Financial Data Rights for Consumers](https://nonprimetimes.com/the-importance-of-expanding-personal-financial-data-rights-for-consumers/) - The Consumer Financial Protection Bureau (CFPB) is rolling out an important new rule to give consumers access to their financial data. It’s called the “Personal Financial Data Rights Rule.” This rule could be a golden opportunity to empower auto finance shoppers and improve their borrowing experience. Unfortunately, the current CFPB proposal does not apply to
- [FinBe USA Partners with Informed.IQ to Streamline Originations Process Using AI & Machine Learning](https://nonprimetimes.com/finbe-usa-partners-with-informed-iq-to-streamline-originations-process-using-ai-machine-learning/) - San Francisco, CA; February 6, 2024 - Informed.IQ, provider of AI-based software that verifies, streamlines, and optimizes loan processing enables FinBe USA (formerly Credito Real USA Finance) to digitally collect documents and verify financing policies, creating a better dealer and consumer experience. Through accurate consumer income calculations and validation of applicant data, loans are processed
- [John Ruffolo, FCPA Joins Trust Science Board of Advisors](https://nonprimetimes.com/john-ruffolo-fcpa-joins-trust-science-board-of-advisors/) - Mr. Ruffolo is a legendary technology investor and innovation powerhouse. He comes from an extensive technology commercialization background as the Founder and Managing Partner of Maverix Private Equity, Founder of OMERS Ventures, and Co-Founder and Vice Chair of the Council of Canadian Innovators. During his leadership tenure as CEO of OMERS Ventures, Mr. Ruffolo invested
- [GDS Link & Carleton Partner to Enhance Calculations and Decisioning](https://nonprimetimes.com/gds-link-carleton-partner-to-enhance-calculations-and-decisioning/) - The potential benefits derive from integrating Carleton’s financial calculations, CarletonCalcs, and lending document generation software, CarletonDocs, within GDS Link’s credit risk decisioning solutions. CarletonCalcs is a suite of configurable payment calculation and compliance APIs that are designed to integrate seamlessly with lending and leasing applications, supporting product calculation requirements while adhering to compliance at finance
- [Agora Data Advances a Large Franchise Auto Group to Meet Growth Goals](https://nonprimetimes.com/agora-data-advances-a-large-franchise-auto-group-to-meet-growth-goals/) - ARLINGTON, Texas, Jan. 30, 2024 /PRNewswire/ -- Agora Data, Inc., a fintech company with its mission to 'enable any car dealer to be a finance company' by providing technology, capital, and guidance with predictable loan performance and analytics, announces the successful completion of another $50 million transaction with a 40+ rooftop franchise automotive group. These strategic
- [Sense and Nonsense About Credit Models – Part II](https://nonprimetimes.com/sense-and-nonsense-about-credit-models-part-ii/) - A curious trend that has become more pronounced since the pandemic is that many lenders are wondering if their credit models (i.e., scoring and other origination tools) are at fault for increased delinquency and charge-off. The purpose of this series of articles is to address the most common concerns related to credit models and to
- [Mark Your Calendar: Key Dates Announced for NAF Association 2024 Signature Events](https://nonprimetimes.com/mark-your-calendar-key-dates-announced-for-naf-association-2024-signature-events/) - Act fast, finance company reps! The C-Suite Retreat is the newest industry event designed exclusively for top-line auto finance executives. This intimate gathering promises to bring industry leaders together for candid conversations about the non-prime market in the beautiful Hill Country of San Antonio, Texas on September 10 – 12, 2024. Participants can expect to
- [defi SOLUTIONS, the Leader in Originations Software Development, Primes the Industry for Innovation with defi ORIGINATIONS for Lease or Loan](https://nonprimetimes.com/defi-solutions-the-leader-in-originations-software-development-primes-the-industry-for-innovation-with-defi-originations-for-lease-or-loan/) - WESTLAKE, Texas – (BUSINESS WIRE) – Building on decades of successful originations software development and as a next step in its dedication to continuous improvement, defi SOLUTIONS is releasing defi ORIGINATIONS, the modern, modular originations system designed for efficiency and productivity and architected to set the stage for innovation. defi ORIGINATIONS is powered by the ambitions
- [Success through Persistent Patience and Strategic Slowness](https://nonprimetimes.com/success-through-persistent-patience-and-strategic-slowness/) - It’s the beginning of a new year. And our thoughts are on evaluating accomplishments and planning and prioritizing for what’s to come, to improve where needed and stay on track to get things done. My company is on the cusp of going to market with a product the industry has been waiting for and has
- [Alfa Announces Originations for US Auto Finance](https://nonprimetimes.com/alfa-announces-originations-for-us-auto-finance/) - The second of six releases that make up Alfa Systems 6, a breakthrough iteration of the Alfa Systems software platform, sets a new standard for excellence in US auto finance originations.Alfa, a pioneer in technology for automotive finance, has announced the introduction of Total Originations for the US auto finance market, setting a new standard
- [Ignite the Road Ahead](https://nonprimetimes.com/excitement-peaks-as-registration-for-the-naf-national-automotive-finance-associations-28th-annual-nonprime-auto-financing-conference-opens-on-february-1-2024/) - NAF's 28th Annual Conference Registration Opens Feb. 1
- [The Case for Vertical AI Models](https://nonprimetimes.com/the-case-for-vertical-ai-models/) - AI researchers from Google, Berkeley, and other universities recently engineered what they described as a “silly attack” on Chat-GPT. They asked the model to repeat the word “poem” forever, which caused the model to emit large quantities of its training data, including names, email, physical addresses, phone numbers and other personal information (PII). Though superficially
- [Maximizing Holiday Profits: The Power of Targeted Marketing for Auto Dealers, OEMs and Lenders ](https://nonprimetimes.com/maximizing-holiday-profits-the-power-of-targeted-marketing-for-auto-dealers-oems-and-lenders/) - While inventories and incentives continue to rebound, overall demand for new vehicles has cooled slightly in the wake of higher interest rates and elevated prices. Still, U.S. light-vehicle sales were up slightly (1.8%) to 1.2 million units in October, according to GlobalData. However, with adequate inventory levels and labor unrest in the rearview mirror, lenders, dealers
- [defi SOLUTIONS Announces New Partnership with Gestalt Tech for Data Warehousing Capabilities for Lenders](https://nonprimetimes.com/defi-solutions-announces-new-partnership-with-gestalt-tech-for-data-warehousing-capabilities-for-lenders/) - Ready-built data warehouse saves lenders time and money while giving a competitive advantage. WESTLAKE, Texas-- (BUSINESS WIRE)--defi SOLUTIONS is pleased to announce the addition of Gestalt Tech to the defi family of data and service providers partnering to improve fintech for the lending industry. Gestalt provides lenders a cloud-based, smart data warehouse purpose built for
- [Next-Level Accuracy: The Impact of AI on OCR in Auto Loan Underwriting](https://nonprimetimes.com/next-level-accuracy-the-impact-of-ai-on-ocr-in-auto-loan-underwriting/) - Optical Character Recognition or OCR is a technology enabling computers to “read” text off documents. It is usually priced per page and is often riddled with mistakes. The poor accuracy makes it of little practical value for organizations looking for a clear picture of the data in the documents. To get the true picture, you
- [Alfa Unveils “Compose”: Revolutionizing User Experience with Superpersonalized Screen Design](https://nonprimetimes.com/alfa-unveils-compose-revolutionizing-user-experience-with-superpersonalized-screen-design/) - In the first of six releases that make up Alfa Systems 6, leading-edge technology meets user-centric innovation to enhance efficiency across the enterprise Alfa, a leader in asset finance technology solutions, has proudly announced the first of six releases in Alfa Systems 6 - a breakthrough iteration of its software platform.Entitled Efficiency, the release introduces
- [How Much of the Industry Has Digitized their Back Office Entering the Final Stretch of 2023](https://nonprimetimes.com/how-much-of-the-industry-has-digitized-their-back-office-entering-the-final-stretch-of-2023/) - As the automotive industry looks at the final stretch of 2023, it is clear that there continues to be progress made in the overall digital transformation journey for all involved – OEMs, lenders, dealers, and service provider partners. Sure, for a few years now, the shopping process for customers has become far more digital than
- [G+D Mobile Security and PassTime Launch First Large­ Scale Commercial iSIM Deployment with Sony Semiconductor Israel and AT&T](https://nonprimetimes.com/gd-mobile-security-and-passtime-launch-first-large-scale-commercial-isim-deployment-with-sony-semiconductor-israel-and-att/) - The iSIM is another important step in SIM technology. G+D Mobile Security has played a key role in its development and along with PassTime is now launching the first commercially viable large-scale solution, together with AT&T and Sony Semiconductor Israel. The iSIM is another important step in SIM technology. G+D Mobile Security has played a
- [Driving Success: Navigating Auto Finance Compliance in the Shadow of CFPB Oversight](https://nonprimetimes.com/driving-success-navigating-auto-finance-compliance-in-the-shadow-of-cfpb-oversight/) - In a landscape shaped by both economic conditions and regulatory developments, compliance education emerges as a cornerstone for success in the non-prime auto finance market. As the CFPB continues its efforts to ensure fairness and transparency, staying informed and educated is not just a necessity but a strategic imperative for industry professionals committed to navigating
- [PassTime Announces Next Generation Encore Device](https://nonprimetimes.com/passtime-announces-next-generation-encore-device/) - PassTime launches Encore 4, the innovate new generation of the battery-powered GPS platform LITTLETON, Colorado—Nov. 20, 2023—PassTime®, a leading provider of advanced asset tracking solutions, announced today the launch of Encore 4, the newest version of the company’s Encore platform. Now on its fourth generation, Encore 4 marks one of the most substantial updates to
- [New Research Reveals Age and Gender Differences in Vehicle Add-On Purchases](https://nonprimetimes.com/new-research-reveals-age-and-gender-differences-in-vehicle-add-on-purchases/) - When consumers purchase cars at an auto dealer, they often buy supplemental products and services called voluntary protection products (VPPs). These provide additional coverage and protection for certain vehicle components or services not covered by or beyond the manufacturer's original warranty. This not only impacts the consumer and the dealer’s bottom line, but also impacts
- [CFPB Issues Guidance Warning Creditors Using AI Not to Merely "Check the Box" on Adverse Action Forms](https://nonprimetimes.com/cfpb-issues-guidance-warning-creditors-using-ai-not-to-merely-check-the-box-on-adverse-action-forms/) - On September 19, 2023, the Consumer Financial Protection Bureau issued Consumer Financial Protection Circular 2023-03 that expressly addresses the legal compliance requirements imposed by the Equal Credit Opportunity Act that a creditor must adhere to when using so-called artificial intelligence and other similar technologies in making underwriting and credit decisions. The key takeaway from the
- [Resolvion Partners with AKUVO Platform](https://nonprimetimes.com/resolvion-partners-with-akuvo-platform/) - Charlotte, NC , November 6, 2023 – Resolvion, an industry leader in national repossession management, skip tracing, remarketing, license plate recognition, heavy equipment and specialty recovery, announced today a partnership with AKUVO and its Collections & Portfolio Analytics platform, Aperture. As an integrated Repossession service provider, the partnership will provide Resolvion the opportunity to serve
- [Sense and Nonsense About Credit Models – Part I](https://nonprimetimes.com/sense-and-nonsense-about-credit-models-part-i/) - Auto finance, as we know it today, really began in the late 1980s with the introduction of asset-backed securitization to lenders. This instrument allowed lenders to fund more loans by cleaning out their debt facilities, and brought a substantially lower cost of funds. The latter opened the door to full spectrum lending due to the
- [Pllenty Partners with Inovatec to Offer Payment Capabilities to Lenders](https://nonprimetimes.com/pllenty-partners-with-inovatec-to-offer-payment-capabilities-to-lenders/) - Integrated features enable lenders to improve cash flow and heighten customer experience BURNABY, BC, October 27, 2023– Inovatec Systems, a major provider of industry-leading cloud-based software solutions for lenders, today announced it has partnered with Pllenty, a PCI-compliant provider of embedded payments and workflow solutions. Through this relationship, Inovatec will offer its clients seamless access
- [Alfa Announces Alfa Start, the New Preconfigured Software Platform for US Equipment Finance](https://nonprimetimes.com/alfa-announces-alfa-start-the-new-preconfigured-software-platform-for-us-equipment-finance-2/) - Alfa launches Alfa Start, the preconfigured software platform for US equipment finance organizations of all sizes. Through a predefined configuration and process catalog, Alfa Start allows US equipment finance providers to take full advantage of the market-leading Alfa Systems platform, rapidly delivered at entry-level cost. Built on Alfa's extensive experience supporting the top providers of
- [Agora Data’s Matt Burke Named to 40 Under 40 Recognized for Helping to Revolutionize Auto Finance](https://nonprimetimes.com/agora-datas-matt-burke-named-to-40-under-40-recognized-for-helping-to-revolutionize-auto-finance/) - Agora Data, Inc., a fintech company transforming automotive financing for U.S. car dealerships by offering abundant, low-cost capital with precision loan performance data and analytics, has announced Matt Burke, COO of Agora Data, has been named to the “40 Under 40:Industry” list by Auto Remarketing. The accolade recognizes current and next-generation leaders of the used
- [How Generative AI is Impacting Auto Lending Compliance](https://nonprimetimes.com/how-generative-ai-is-impacting-auto-lending-compliance/) - Auto lenders, like leaders in other business sectors, are grappling with the current wave of excitement over generative AI. Many professionals have already seen a coworker or vendor pitch a generative AI use case. It seems as though half the room is significantly impressed, while the other half is waiting for a negative consequence or
- [Inovatec to Exhibit Market-Leading Automated Lending Solutions at the 2023 Auto Finance Summit](https://nonprimetimes.com/inovatec-to-exhibit-market-leading-automated-lending-solutions-at-the-2023-auto-finance-summit/) - Provider of proven LOS, LMS, and portal solutions will demonstrate how lenders can improve workflows, reduce costs, and increase profitability BURNABY, BC, October 16, 2023 – Inovatec Systems, a major provider of industry-leading cloud-based software solutions for lenders, announced it will exhibit its unique loan origination, loan management, and customer-direct portal solutions at the Auto
- [Alfa Announces Sixth Iteration of the Alfa Systems Software Platform](https://nonprimetimes.com/alfa-announces-sixth-iteration-of-the-alfa-systems-software-platform/) - Alfa, a leading innovator in asset finance technology, is delighted to announce the upcoming launch of Alfa Systems 6 – a breakthrough iteration of its software platform.Delivered in a series of releases over the coming year, Alfa Systems 6 introduces significant performance and functional enhancements, with a focus on addressing the dynamic challenges and opportunities
- [Alfa’s Innovation in Implementation Series Concludes with a People Focus](https://nonprimetimes.com/alfas-innovation-in-implementation-series-concludes-with-a-people-focus/) - Alfa, a leading asset finance software solutions provider with a rich history of delivering innovative solutions and supporting complex implementations, is proud to announce the fifth and final installment in its Innovation in Implementation series. Establishing Winning Frameworks and Teams explores the indispensable role of people in mitigating the risks associated with large and complex
- [Leading Through Change](https://nonprimetimes.com/leading-through-change/) - Each month as CEO of a financial technology company, I host monthly “Your Voice” meetings that give all team members across the 650-plus person organization an opportunity to ask questions (anonymously or not) about anything they want. Topics of interest include the impact of the economy and industry on our business, company benefits, and how
- [The State of Non-Prime Auto Finance: Why Your Company Should Join the National Automotive Finance (NAF) Association](https://nonprimetimes.com/the-state-of-non-prime-auto-finance-why-your-company-should-join-the-national-automotive-finance-naf-association-2/) - In today’s dynamic financial landscape, the non-prime auto finance sector stands as a critical component of the automotive industry. With increasing numbers of consumers falling outside the traditional prime credit bracket, this market segment is ripe with opportunities and challenges. To navigate this ever-evolving landscape successfully, companies in non-prime auto finance should consider joining the
- [Why Auto Financiers Must Address Vehicle Data Privacy Now](https://nonprimetimes.com/why-auto-financiers-must-address-vehicle-data-privacy-now/) - When was the last time that after repossessing a vehicle you took action to make sure all the consumers’ personal information stored in it was deleted? If your answer isn’t ‘today’- then you likely need to revisit your privacy practices to keep up with current and evolving legislation and protect your business. Emerging legislation zeroes
- [Trust Science Named a Fastest Growing Company 2023](https://nonprimetimes.com/trust-science-named-a-fastest-growing-company-2023/) - For the second consecutive year, Trust Science occupied the #20 spot on the Globe and Mail’s list of over 400 Top Growing Companies in 2023 September 29, 2023 – Palo Alto, CA – Trust Science earned a Top-20 spot on the 425-company list of Top Growing Companies by The Globe and Mail, Canada’s equivalent of
- [Alfa Commits to Net-Zero](https://nonprimetimes.com/alfa-commits-to-net-zero/) - Alfa’s climate targets validated by the SBTi Alfa, provider of Alfa Systems, the class-leading software platform for asset finance, has announced it has received validation for its science-based targets and reaffirmed its commitment to achieve net-zero emissions by 2030. The Science Based Targets initiative (SBTi) validated Alfa’s submission via the SME route, ensuring that targets
- [How End-of-Year-Sales May Impact Auto Finance Digital Transformation Strategies](https://nonprimetimes.com/how-end-of-year-sales-may-impact-auto-finance-digital-transformation-strategies/) - Following a challenging sales environment in 2022, a noticeable recovery in the automotive sector has stabilized in 2023. This year, even as supply chain problems subsided, new challenges emerged, such as the persistent risk of a potential recession, stubbornly high inflation, increased delinquencies and a UAW strike which may impact production and, ultimately, prices. These
- [Introducing the Industry’s Newest Event – The 2024 Auto Finance C-Suite Retreat](https://nonprimetimes.com/introducing-the-industrys-newest-event-the-2024-auto-finance-c-suite-retreat/) - TALLAHASSEE, FL, OCTOBER 10, 2023 – Registration is now open for the automotive finance industry’s newest event, hosted by the National Automotive Finance (NAF) Association. The 2024 Auto Finance C-Suite Retreat is an exclusive event designed for top executives, thought-leaders, and decision-makers at sales finance companies to come together for candid conversations about the non-prime
- [Alfa Announces Free Scope 3 Emissions Reporting](https://nonprimetimes.com/alfa-announces-free-scope-3-emissions-reporting/) - Alfa, the makers of Alfa Systems – the first-choice software platform for providers of asset finance, worldwide – has announced new functionality to help its customers track and report their portfolios’ Scope 3 greenhouse gas emissions. A complementary add-on for current and prospective Alfa customers, Scope 3 Reporting in Alfa Systems measures emissions at the
- [CFPB Files Lawsuit Against BHPH Auto Servicer](https://nonprimetimes.com/cfpb-files-lawsuit-against-bhph-auto-servicer/) - Hold onto your hats, folks—it’s getting rough out there! Citing the increased cost of vehicles and more credit needed to pay for them, the Consumer Financial Protection Bureau has turned its attention to monitoring and enforcement against companies engaged in auto finance. The CFPB has recently taken enforcement action against auto finance companies for “wrongful
- [Improving Access to Credit in the Automotive Industry](https://nonprimetimes.com/improving-access-to-credit-in-the-automotive-industry/) - It’s no secret that higher interest rates and increased costs are putting a strain on consumers’ wallets with higher prices on consumer goods across the board. The auto industry is not immune. Lingering inventory challenges are leading to record high prices for new and used vehicles, making it difficult for many consumers to purchase reliable
- [Inovatec Signs Partnership Agreement with VeriFast to Offer Income and Identity Verification Services to Lenders](https://nonprimetimes.com/inovatec-signs-partnership-agreement-with-verifast-to-offer-income-and-identity-verification-services-to-lenders/) - AI-powered verification-as-a-service platform allows lenders to accelerate decisions and reduce risk BURNABY, BC, September 6, 2023– Inovatec Systems, a major provider of industry-leading cloud-based software solutions for lenders, today announced it has created a relationship with VeriFast, a provider of AI-driven verification and authentication solutions, to offer accurate and secure identification and income verification to
- [Why Lenders and Dealers Using AI Aren’t as Worried about the News Surrounding Student Loans](https://nonprimetimes.com/why-lenders-and-dealers-using-ai-arent-as-worried-about-the-news-surrounding-student-loans/) - The debt-limit deal struck by the White House and congressional Republicans says the pause on student loan payments will expire no later than August 30. This decision may have had significant consequences for auto lenders and dealers five or 10 years ago. But with the rise in AI-driven tools, there are more ways to identify
- [CUNA Strategic Services Announces New Alliance Provider](https://nonprimetimes.com/cuna-strategic-services-announces-new-alliance-provider/) - MADISON, WI – AUGUST 16, 2023 – CUNA Strategic Services is pleased to announce its new alliance with Constant AI, a SaaS company specializing in consumer loan servicing, loss mitigation automation and member self-service. This collaboration aims to help credit unions reduce servicing costs and generate new revenue within the servicing experience. Constant empowers credit
- [Inovatec’s Bob Metodiev to Moderate Lending and Payments Panel at the Mobile Payments Conference August 24 in Atlanta, Georgia](https://nonprimetimes.com/inovatecs-bob-metodiev-to-moderate-lending-and-payments-panel-at-the-mobile-payments-conference-august-24-in-atlanta-georgia/) - BURNABY, BC, August 14, 2023 – Inovatec Systems, a provider of industry-leading, cloud-based software solutions for lenders, announced that its head of business development Bob Metodiev will serve as moderator of the “Next-Gen Lending and Payments” panel, taking place at the Mobile Payments Conference. The event is scheduled for August 23 to 25, 2023 at
- [Agora Data Successfully Secures $160 Million in Fourth Private Term Financing](https://nonprimetimes.com/agora-data-successfully-secures-160-million-in-fourth-private-term-financing/) - Agora Data, Inc., a fintech company transforming automotive financing for U.S. car dealerships by offering abundant, low-cost capital with precision loan performance data and analytics, closed a $160 million private term financing on August 11, 2023. This latest transaction represents the fourth privately placed term financing for Agora. Each of the company’s first three term
- [CFPB’s Summer Supervisory Highlights – A Cornucopia; There’s Something for Everyone](https://nonprimetimes.com/cfpbs-summer-supervisory-highlights-a-cornucopia-theres-something-for-everyone/) - The Consumer Financial Protection Bureau (CFPB) recently issued its Supervisory Highlights for Summer 2023 in connection with examinations they completed from July 1, 2022, to March 31, 2023. As you may know, the Highlights are a way for the CFPB to convey its examination findings to the public of federal consumer financial laws and regulations
- [Unlocking Insights: The Power of the Non-Prime Automotive Financing Survey Report](https://nonprimetimes.com/unlocking-insights-the-power-of-the-non-prime-automotive-financing-survey-report/) - In today’s rapidly evolving landscape, information is not just power, it’s a strategic advantage. We are excited to present our latest survey report that delves deep into the trends, opinions, and data shaping the non-prime auto finance industry. This comprehensive report – presented in partnership between the National Automotive Finance (NAF) Association and the American
- [Unlocking Insights: The Power of the Non-Prime Automotive Financing Survey Report](https://nonprimetimes.com/unlocking-insights-the-power-of-the-non-prime-automotive-financing-survey-report-2/) - In today’s rapidly evolving landscape, information is not just power, it’s a strategic advantage. We are excited to present our latest survey report that delves deep into the trends, opinions, and data shaping the non-prime auto finance industry. This comprehensive report – presented in partnership between the National Automotive Finance (NAF) Association and the American
- [Lending Without Stipulations: Empowering More Sub-prime Lenders to Enable Greater Credit Access](https://nonprimetimes.com/lending-without-stipulations-empowering-more-sub-prime-lenders-to-enable-greater-credit-access/) - While everyone wants a faster, more digital loan application process, those with less money and bad credit often must wait longer and submit more paperwork. Customers with credit scores below 620 are frequently in this group; they apply for sub-prime loans. As a result, lenders are losing out on these crucial sub-prime borrowers, who are
- [Where Auto Retailers and Lenders are Still Finding Barriers in Adopting more Digitized Back-office Workflows](https://nonprimetimes.com/where-auto-retailers-and-lenders-are-still-finding-barriers-in-adopting-more-digitized-back-office-workflows/) - Customers want simplified digital purchasing experiences today, and many automotive retailers, lenders and OEMs have been aggressively building consumer-facing web ecosystems to suit their needs. Many OEMs and retailers believe their digital storefronts are increasingly more appealing and mobile-friendly, and they are also making great strides in synching online inventory with real-time search expectations. The
- [Training Dealers and Lenders to Leverage AI and Advanced Data to Better Sell Connected Vehicles](https://nonprimetimes.com/training-dealers-and-lenders-to-leverage-ai-and-advanced-data-to-better-sell-connected-vehicles/) - New opportunities related to connectivity, advanced electronics, and computer technology are becoming increasingly important as vehicle technology advances. Auto dealers and lender partners are on the front lines in this new environment where customers need to understand the technology in their vehicles, the potential benefits associated with new data potential, and how to protect their
- [How AI Technology Helps Auto Dealers and Lenders Reduce Bias in Auto Loans](https://nonprimetimes.com/how-ai-technology-helps-auto-dealers-and-lenders-reduce-bias-in-auto-loans/) - Bias in auto lending occurs when an automotive dealer and lender make decisions related to a loan and denies credit or imposes “non-standard” terms for reasons other than the borrower’s creditworthiness. Vehicle shoppers can encounter bias, such as receiving favorable loan terms because they “look reliable”, or not receiving loan terms simply because they live
- [Great Expectations: Three Requirements for Meeting 5-Star Success](https://nonprimetimes.com/great-expectations-three-requirements-for-meeting-5-star-success/) - If you book a room at a 5-star hotel, you have certain expectations: a unique aesthetic, exceptional features, an understanding that your needs will be met through excellent service, personalized service, consistent service, during peak periods or down times. Regardless of industry, clients expect 5-star products and services. They want the unique and exceptional, delivered
- [NAF Association Annual Non-Prime Auto Financing Conference is a Resounding Success](https://nonprimetimes.com/naf-association-annual-non-prime-auto-financing-conference-is-a-resounding-success/) - TALLAHASSEE, FLORIDA – The National Automotive Finance (NAF) Association, which exclusively serves the non-prime auto financing industry, held its 27th Annual Non-Prime Auto Financing Conference in Plano, TX, last week. Nearly 350 lenders, business partners, speakers, and guests gathered for the association’s premier annual event. Participants attended educational sessions on a variety of topics ranging
- [National Automotive Finance Association (NAF) Debuts Learning Gateway](https://nonprimetimes.com/national-automotive-finance-association-naf-debuts-learning-gateway/) - A comprehensive platform for delivering compliance educationThe NAF Association is proud to introduce a new and innovative learning management system for delivering compliance education to the auto financing industry. The Learning Gateway platform delivers a sharp design and superior functionality. The learning suite debuted with a soft launch in May. Compliance is at the forefront
- [Blowing It Up](https://nonprimetimes.com/blowing-it-up/) - Why subprime auto lenders fail Over the years, many of my articles have dealt with debunking journalist’s hit-jobs on the subprime auto finance industry. Auto loans have performed within a very reliable range across more than 25 years of credit cycles. The management teams of the largest lenders are both seasoned and rational, and actual
- [What the Latest Auto Finance Digital Transformation Index Means for Lenders and the Digital Retail Experience](https://nonprimetimes.com/what-the-latest-auto-finance-digital-transformation-index-means-for-lenders-and-the-digital-retail-experience/) - Car makers, lenders and auto retailers for the most part have weathered what is expected to be the worst of the post-pandemic supply-chain challenges that altered production in 2020 and 2021. And while today they’re facing new economic-related challenges, sales activity is holding steady, if not outpacing initial forecasts for 2023. This presents us with
- [The CFPB and the Quaint Notion of Caveat Emptor – Bankers Beware!](https://nonprimetimes.com/the-cfpb-and-the-quaint-notion-of-caveat-emptor-bankers-beware/) - Doing Business – Horse Trading and Lending Money People selling or exchanging things to other people is as old as the hills, Buyers and sellers engaging in hoodwinking each other, in the trading process, is probably also that old, as well. Providing credit is a far more recent phenomenon with a storied history. Adages such
- [Where Auto Lenders are Already Seeing the Benefits of Artificial Intelligence Outside of ChatGPT](https://nonprimetimes.com/where-auto-lenders-are-already-seeing-the-benefits-of-artificial-intelligence-outside-of-chatgpt/) - The loan application process has been greatly improved using machine learning (ML) and artificial intelligence (AI) tools. These tools enable auto lenders to make faster decisions in a more accurate manner, which benefits everyone from the dealer, the OEM and certainly the end customer. Lenders can integrate with critical alternative data sources and improve the
- [Affordability vs. Income: Uncovering Hidden Opportunities in your Auto Lender Marketing](https://nonprimetimes.com/affordability-vs-income-uncovering-hidden-opportunities-in-your-auto-lender-marketing/) - At the recent AFSA and NADA conferences, we heard economists from across the industry discuss the possibility of an economic downturn and potential impacts to the auto industry. However, there was no argument that one of the biggest challenges facing the auto industry today is vehicle affordability. Affordability is a challenge for new and used
- [How are Captive Lenders and Loan Origination Partners Teaming to Expand the Digital Shopping Journey for Consumers?](https://nonprimetimes.com/how-are-captive-lenders-and-loan-origination-partners-teaming-to-expand-the-digital-shopping-journey-for-consumers/) - For a while now, automotive retail at the consumer level has been focused on bringing more digitization into the customer experience. It is easier to shop online for a car or truck today, and this process has been made possible because auto retailers and their lender partners are adopting more of a digitized environment necessary
- [Preventing Performance Shocks](https://nonprimetimes.com/preventing-performance-shocks/) - In the fourth quarter of 2022, many auto lenders were surprised by elevated levels of delinquency and charge-off that have continued through the first quarter of this year. The deterioration did not occur due to loose lending or ineffective collections, but rather was driven by a predictable shift in the market. This is not an
- [What’s Needed to Truly Establish a Digital Presence for Auto Dealers, Lenders and OEMs](https://nonprimetimes.com/whats-needed-to-truly-establish-a-digital-presence-for-auto-dealers-lenders-and-oems/) - The auto industry has been laser-focused on digitizing the retail shopping experience for several years, especially since the pandemic in 2020. However, the right digital retail strategy today goes beyond up leveling a dealer’s website. This thinking has evolved, and many in the industry now realize that the sweet spot consumers want when shopping for
- [How Artificial Intelligence and Machine Learning are Being Used by Financial Lenders in 2023](https://nonprimetimes.com/how-artificial-intelligence-and-machine-learning-are-being-used-by-financial-lenders-in-2023/) - Artificial Intelligence (AI) and Machine Learning (ML) technologies continue to expand in their applications, uses and benefits for lenders and financial institutions. Because of this maturity and expanded adoption rate, AI/ML is helping to solve highly complex solutions that generate positive ROI across business segments. A majority of financial services providers and lenders acknowledge they
- [Accountability in Action](https://nonprimetimes.com/accountability-in-action/) - In my current role as CEO of a financial technology company, I have committed to my entire team to be totally transparent and maintain open communication. Anyone can reach out to me — by Microsoft Teams, email, or “Slido” polls that let participants post comments, anonymously or not. I host bi-weekly and quarterly company-wide meetings
- [How Auto Dealers and Subprime Lenders are Ensuring Fair Access to Credit in an Era When Multiple Income Streams and the Gig Economy Complicate Income Verification](https://nonprimetimes.com/how-auto-dealers-and-subprime-lenders-are-ensuring-fair-access-to-credit-in-an-era-when-multiple-income-streams-and-the-gig-economy-complicate-income-verification/) - Over the last several years, it has become increasingly difficult for auto dealers and subprime lenders to ensure financial inclusivity and fairness for car shoppers today. This is not so much due to blatant discrimination, but more because so many people inadvertently overstate or understate their income on their applications. This problem is frequently encountered
- [CFPB Issues Market-Monitoring Orders in Auto Finance Data Pilot](https://nonprimetimes.com/cfpb-issues-market-monitoring-orders-in-auto-finance-data-pilot/) - The Consumer Financial Protection Bureau recently issued market-monitoring orders to nine large auto creditors to provide information about their auto “lending” portfolios. The nine auto creditors were not named by the CFPB but reportedly represent a cross-section of the auto finance market. The sample order linked in the CFPB’s blog post announcing the pilot states
- [What Subprime Lenders Need to Know to Process the Expected Increased Volume of Repossessions and Lien Titling Change Requirements in 2023](https://nonprimetimes.com/what-subprime-lenders-need-to-know-to-process-the-expected-increased-volume-of-repossessions-and-lien-titling-change-requirements-in-2023/)
- [Successfully Navigating 2023: Part II – Planning for Lower Recoveries](https://nonprimetimes.com/successfully-navigating-2023-part-ii-planning-for-lower-recoveries/) - Auto lenders have had two issues on their minds entering 2023, which are managing a rise in delinquency and planning for declining used vehicle values. The first installment of this series addressed the delinquency issue by drawing attention to properly supporting the collections operation. This article deals with the second issue, managing recoveries in an
- [Organized Crime – Exploiting the Gaps in the Credit Process](https://nonprimetimes.com/organized-crime-exploiting-the-gaps-in-the-credit-process/) - Organized crime rings are heeding to the shift, looking for ways to maximize their overall operations without being prosecuted for their illegal activities. Long gone are the days of breaking into vehicles using the conventional ‘jimmy’ instrument to access the vehicle. Nowadays, the RISKS are too high to be caught driving around in a stolen
- [How AI Is Helping Lenders Build More Systemic Controls As They Navigate Increasing Regulatory Scrutiny](https://nonprimetimes.com/how-ai-is-helping-lenders-build-more-systemic-controls-as-they-navigate-increasing-regulatory-scrutiny/) - At the onset of 2023, the Consumer Financial Protection Bureau (CFPB) and the New York State Office of the Attorney General filed a complaint against a large auto lender in the subprime space, alleging that the auto lender misrepresented costs in loan agreements that may have placed customers in high-cost loans on used cars in
- [Understanding the Bill Payment Habits of Unbanked Americans](https://nonprimetimes.com/understanding-the-bill-payment-habits-of-unbanked-americans/) - It’s hard to believe that in 2023, there are still millions of adults that are unbanked—defined as an individual without access to a checking or savings account. However, according to the Federal Reserve, 4.5 percent of U.S. households—nearly 10.5 million adults—are, in fact, unbanked. Unbanked consumers typically don’t have access to the same financial resources
- [Breaking Down the Safeguards Rule Incident Response Plan Requirement](https://nonprimetimes.com/breaking-down-the-safeguards-rule-incident-response-plan-requirement/) - The Federal Trade Commission (“FTC”) has given financial institutions six additional months to comply with the new Safeguards Rule requirements. Auto dealers who offer financing to consumers and finance companies that take assignment of retail installment sales contracts from dealers are financial institutions under the Safeguards Rule. Regardless of your level of skill, entry-level safeguards
- [Why Digital Retailing is Increasing Fraud, and What You can do About It](https://nonprimetimes.com/why-digital-retailing-is-increasing-fraud-and-what-you-can-do-about-it/) - No doubt, digital retailing is here to stay in automotive, and it is growing like wildfire. However, while most of the world thinks the auto industry is worried most about getting inventory levels back to normal, what they’re actually worried about is fraud – and the increase in digital retailing is the primary culprit with
- [Successfully Navigating 2023](https://nonprimetimes.com/successfully-navigating-2023/) - Part I: Support your collections team now! In July of this year, I wrote an article in response to several hit-pieces that were published related to subprime auto. That article may be found at the following link: https://nonprimetimes.com/i-hate-to-burst-your-bubble/. My objective was first to debunk talk of an auto loan bubble, and second, to redirect attention
- [Why You Need a Website Privacy Policy](https://nonprimetimes.com/why-you-need-a-website-privacy-policy/) - Privacy is a growing area of regulation in the United States, and not just for large institutions like national banks. If you do business in the United States, it is becoming increasingly likely that you are covered by a law that requires you to have a website privacy policy and has specific requirements about what
- [Police Arrest Shop Owner Who Refused to Surrender Vehicle](https://nonprimetimes.com/police-arrest-shop-owner-who-refused-to-surrender-vehicle/) - Some repair shops seem to ignore the law with impunity. We recently sought the assistance of law enforcement when a shop owner refused to surrender a vehicle and were pleased with the result. In Florida, when a lender receives a lien sale notice for alleged vehicle repairs, the lender can post a bond with the
- [FTC Charges Dealer Group with ‘Unfair Discrimination’ and Charging ‘Junk Fees’](https://nonprimetimes.com/ftc-charges-dealer-group-with-unfair-discrimination-and-charging-junk-fees/) - The Federal Trade Commission (FTC) has had a target on auto dealers for a couple of years now and has recently brought another case settling charges that an auto group violated the Equal Credit Opportunity Act and the FTC Act. At first glance, this case might look similar to other recent FTC settlements with auto
- [Time for a Tune-Up? Service Provider Relationships Under the Safeguards Rule](https://nonprimetimes.com/time-for-a-tune-up-service-provider-relationships-under-the-safeguards-rule/) - You may have heard some squeaking lately, investigated a little further, and determined that all the noise is about the Federal Trade Commission’s Safeguards Rule. It may have been a while since you have looked at your Safeguards program, or maybe you regularly polish it off. Regardless, now is the perfect time to inspect how
- [Lenders Must Reduce the Impact of Fraud to Improve Bottom Line](https://nonprimetimes.com/lenders-must-reduce-the-impact-of-fraud-to-improve-bottom-line/) - In the October 4 issue of Non-Prime Times, in his article “Lien Sale Piracy – What Every Lender Needs to Know”, Dennis LeVine identified an issue that is costing auto lenders millions of dollars each year, and it’s growing. He is absolutely correct when he says “a lender’s best strategy is to recognize potential fraudulent
- [Embracing a Big Picture View of Credit Risk](https://nonprimetimes.com/embracing-a-big-picture-view-of-credit-risk/) - The third quarter of 2022 concluded with numerous signs suggesting negative economic headwinds are upon us. The Wall Street Journal reported on October 23 that far more S&P 500 companies missed earnings estimates than expected. New orders continue to fall (refer to the ISM’s Manufacturing PMI Report) while production costs are skyrocketing. The Federal Reserve
- [How Sub-prime Lenders can Unlock New Customers Using a Cloud-based Digitized Auto Lending Process for Income and Employment Verification](https://nonprimetimes.com/how-sub-prime-lenders-can-unlock-new-customers-using-a-cloud-based-digitized-auto-lending-process-for-income-and-employment-verification/) - In a recent survey¹, nearly 40 percent of dealers said they still are not investing in more digital resources for their retail and lending processes. Of these groups, approximately 31 percent said they don’t have the resources to invest more, 40 percent said they do not feel comfortable with the technology, and 29 percent said
- [Doing Things Differently](https://nonprimetimes.com/doing-things-differently/) - Who comes to mind when you think of companies that do things differently?Apple? Of course. The company and its products are known for design innovation and inspiring innovation in the users of its products. Amazon? Certainly. It’s disrupted long-running industries and turned delivery modes upside down. The company I now lead? Perhaps. If you know
- [Lien Sale Piracy – What Every Lender Needs to Know](https://nonprimetimes.com/lien-sale-piracy-what-every-lender-needs-to-know/) - Most loans to consumers involve either cars or mortgages. With real estate, a lender will almost never lose its first priority lien position. When it comes to cars, however, lenders in many states making car loans, including Florida, face the possibility of losing their liens. How? In many states, a licensed company that tows or
- [Prepare Now for New FTC Regulations](https://nonprimetimes.com/prepare-now-for-new-ftc-regulations/) - Now that the comment period is closed for the proposed changes to the Federal Trade Commission regulations, the retail automotive industry is waiting to see just which rules will be enforced. Given the direction of the media coverage the FTC recently completed, the agency seems poised to make the entire 37-page document law, addressing the
- [Back to School: A Lesson on the Materially Misleading Debt Collection Standard](https://nonprimetimes.com/back-to-school-a-lesson-on-the-materially-misleading-debt-collection-standard/) - ‘Tis the season for returning to school and learning something new. When I was growing up, we learned the long multiplication algorithm by which you multiply numbers right to left, insert zeros along the way, write some leading digits on top rather than on the bottom, add some of those numbers for an intermediate answer,
- [Why Aren’t More Dealers and Sub-prime Lenders Leveraging Credit-first Soft Pulls?](https://nonprimetimes.com/why-arent-more-dealers-and-sub-prime-lenders-leveraging-credit-first-soft-pulls/) - Shopping for a vehicle comes with all kinds of stressors for a consumer – some of which can affect their relationship with the dealer and lender. The decision to require a shopper to undergo a credit verification can be stressful for many consumers with less-than-stellar credit – for different reasons! Some subprime consumers are worried
- [States are Joining the War on Voluntary Protection Products](https://nonprimetimes.com/states-are-joining-the-war-on-voluntary-protection-products/) - When it comes to voluntary protection products, such as guaranteed asset protection, debt cancellation, credit insurance, service contracts, and vehicle protection products, the hottest topic this summer seems to be the Federal Trade Commission’s Motor Vehicle Dealers Trade Regulation Rule, which targets “junk fees” and “add-ons” charged in connection with consumer credit transactions. While the
- [It Takes Two to Tango: Steps a Finance Company Can Take to Protect Its Toes from a Dealership Partner with Two Left Feet](https://nonprimetimes.com/it-takes-two-to-tango-steps-a-finance-company-can-take-to-protect-its-toes-from-a-dealership-partner-with-two-left-feet/) - Finding a good dance partner can be difficult. If all goes well, your and your partner’s steps and turns are in sync, and you both are happy with the resulting dance. But occasionally, your dance partner may make a misstep or, worse, just step on your toes, leaving you limping. You must deal with the
- [Why Aren’t more Dealers and Sub-prime Lenders Using this Everyday Technology to Fight Identity Fraud?](https://nonprimetimes.com/why-arent-more-dealers-and-sub-prime-lenders-using-this-everyday-technology-to-fight-identity-fraud-2/) - Synthetic identity fraud is a complex issue that continues to increase each year posing great problems for everyone from auto dealers to sub-prime lenders alike. In fact, synthetic identities can be severely detrimental to a sub-prime lender’s rate of losses, as well as the severity of loss, and dealers can face millions worth of chargebacks
- [Why Aren’t more Dealers and Sub-prime Lenders Using this Everyday Technology to Fight Identity Fraud?](https://nonprimetimes.com/why-arent-more-dealers-and-sub-prime-lenders-using-this-everyday-technology-to-fight-identity-fraud/) - Synthetic identity fraud is a complex issue that continues to increase each year posing great problems for everyone from auto dealers to sub-prime lenders alike. In fact, synthetic identities can be severely detrimental to a sub-prime lender’s rate of losses, as well as the severity of loss, and dealers can face millions worth of chargebacks
- [Harbingers from the CFPB Repossession Front](https://nonprimetimes.com/harbingers-from-the-cfpb-repossession-front/) - Fond Memories of RepossessionsWhen I became employed at the Florida Attorney General’s Office, over 30 years ago, one of my responsibilities was to repossess vehicles where consumers had defaulted on their retail installment sale contracts. (Note: I didn’t use the term “car loan” since that is inaccurate. Car dealers do not provide car loans, they
- [Federal Agencies Take Another Shot at GAP Coverage for Buyers Covered by the Military Lending Act](https://nonprimetimes.com/federal-agencies-take-another-shot-at-gap-coverage-for-buyers-covered-by-the-military-lending-act/) - I have always been a fan of suspenseful entertainment. I really like television shows where it looks like the protagonist is doomed, but then escapes, lands back in trouble, and gets out … again! So fun. But this kind of whipsaw action is not so fun when applied to real life. A case in point
- [How Financial Durability Insights Help Auto Lenders Entering 2022](https://nonprimetimes.com/how-financial-durability-insights-help-auto-lenders-entering-2022/) - Between government stimulus checks, loan accommodations, and fewer opportunities to spend on discretionary items like vacations and travel because of pandemic restrictions, the overall credit positions for millions of Americans over the past two years have strengthened. Surveys from the New York Federal Reserve¹ indicate that as the economy rebounded from the initial shock of
- [Can Theory Be a Substitute for Evidence? The CFPB and ‘Unfair’ Subprime Auto Credit](https://nonprimetimes.com/can-theory-be-a-substitute-for-evidence-the-cfpb-and-unfair-subprime-auto-credit/) - When I was a young attorney at the Federal Trade Commission, the FTC’s Bureau of Competition was bogged down with some massive antitrust litigation matters. A tongue-in-cheek memo was circulated internally, claiming that the Director of Competition was proposing doing away with the “evidence” requirement as a way of moving big cases. We all had
- [Fin-tech – It’s Just Another Fad](https://nonprimetimes.com/fin-tech-its-just-another-fad/) - According to the Internet, Fin-tech, aka financial technology, is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that also uses technology to partner with traditional lenders to improve a host of activities. By the way, fad is shortened for flavin

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- [About Us](https://nonprimetimes.com/about-us/) - Non-Prime Times is the trusted media and content hub for professionals in the non-prime automotive finance space. From fintech startups and legacy lenders to compliance officers, marketing directors, and relationship managers—we connect the people, ideas, and innovations that move the industry forward. We empower leaders and rising professionals alike through timely, insightful, and actionable content.
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## Sponsors

- [Millennium](https://nonprimetimes.com/sponsor/millennium/) - Millennium has 27 years of experience in recovery management, skip tracing and remarketing with consumer lenders of all sizes. Millennium's core values are Integrity, Accountability, and Performance and we honor those values every day. Millennium is committed to continuous improvement and innovation in providing nationwide recovery management and repossession management in all 50 states. Our
- [ValidiFI](https://nonprimetimes.com/sponsor/validifi/) - ValidiFI, a leader in alternative data and predictive analytics, revolutionizes credit risk assessment with differentiated data that goes beyond traditional credit reporting. By combining identity and account details, such as inquiry, loan performance, and payment behavior, our platform applies advanced validation and risk analysis to turn raw data into actionable insights. This empowers subprime auto finance lenders to identify and approve new consumer segments, improve conversion rates, lower first payment defaults, and improve
- [Alfa](https://nonprimetimes.com/sponsor/alfa-systems/) - Alfa Systems, our class-leading technology platform, is at the heart of some of the world’s largest asset finance companies. Key to the business case for each implementation is Alfa Systems’ ability to consolidate multiple client systems on a single platform. Alfa Systems supports both retail and corporate business for auto, equipment, wholesale and dealer finance
- [Allied Solutions](https://nonprimetimes.com/sponsor/allied-solutions/) - Programs to grow your business. Services to protect you and your consumers. Strategies to evolve and prepare for the future. For over 35 years, Allied has partnered with our clients to solve some of their most challenging issues, helping them breakthrough and reach the next level of success.
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- [defi SOLUTIONS](https://nonprimetimes.com/sponsor/defi-solutions/) - defi SOLUTIONS addresses the ever-evolving needs of borrowers and lenders of all types and sizes. Whether a captive, bank, credit union, or finance company defi’s flexible, configurable, and scalable suite of originations, servicing, and analytics solutions, together with technology-enabled processing services, allows lenders to focus and transform their operations.
- [Informed](https://nonprimetimes.com/sponsor/informed/) - Informed provides instant verifications of consumer and auto applications with 99% accuracy leveraging AI/machine learning. Verifying income, residence, insurance, and more, enables reliable credit decisions with reduced bias. Informed processes hundreds of document types, automating stipulation clearance. Fund more loans faster, reduce document review and OPEX costs, and catch fraud. informediq.com

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