Nonprime and subprime auto lending increases while delinquencies continue to decline

Posted on Dec 16 2012 by

Findings from Experian’s latest State of the Automotive Finance Market analysis showed market share for nonprime, subprime and deep subprime automotive loans for new vehicles grew by 13.6 percent and new vehicle leasing increased by 7.53 percent year over year in Q3 2012. Thirty-day delinquencies fell slightly from 2.78 percent in Q3 2011 to 2.67 percent in Q3 2012 and 60 day delinquencies fell from 0.71 percent in Q3 2011 to 0.69 percent in Q3 2012.

Share

Default rates increase for most loan types

Posted on Dec 09 2012 by

The November release of the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed that most loan types saw an increase in default rates in October. After nine consecutive months of declining default rates, the national composite1 increased to 1.55 percent in October from the 1.46 percent September rate. The first mortgage default rate increased from 1.36 percent in September to 1.47 percent in October. Bankcard default rates posted the lowest post recession rate in October (3.68 percent), compared with 3.70 percent in September.

Share

Investing in customer-centric strategies yields improved ROI

Posted on Dec 04 2012 by

Returns on investment from superior customer-centric strategies easily can exceed 20 percent in the first year of implementation. However, this number is compounded exponentially in subsequent years due to repeat business, new customer referrals and customer loyalty. Learn more about the design and deployment of holistic retail bank customer-centric strategies that synthesize critical information and […]

Share

Turkey production grows by 2 percent in 2012 compared with 2011

Posted on Nov 26 2012 by

Six states are the top producers of turkeys: Minnesota at 46 million, North Carolina at 36 million, Arkansas at 29 million, Missouri at 17.5 million, Virginia at 17 million and Indiana at 16.5 million. This accounts for nearly two-thirds of turkeys produced in the United States as of September 2012. The average wholesale price for […]

Share

Data breach case study lesson: transparency

Posted on Nov 18 2012 by

According to a recent Ponemon Institute study, 44 percent of consumers who were notified about a data breach believed the breached company was hiding something. When data breaches occur, it is extremely important to be there for customers and to address their concerns. When companies hide a data breach, impacted consumers begin to suspect the […]

Share

Validating a model used with overlay criteria

Posted on Nov 11 2012 by

When validating a model in the presence of overlay criteria, it is important to remember that any metrics computed at the aggregate portfolio level will not be indicative of the model’s true performance. While traditional validation methodologies and portfolio metrics may provide directional insight into model performance, the overlay strategy is an additional variable that […]

Share

Retail card balances vary by credit score tier

Posted on Nov 04 2012 by

As of Q2 2012, subprime borrowers are carrying the largest retail card balances, with an average card balance per account of $620 and $700 for VantageScore® D and F tiers, respectively. The national average balance on a retail account is $329 — an increase of 39 percent over 2011. VantageScore A tier (super-prime) consumers carry […]

Share

Investing in customer-centric strategies yields improved ROI

Posted on Oct 28 2012 by

Returns on investment from superior customer-centric strategies easily can exceed 20 percent in the first year of implementation. However, this number is compounded exponentially in subsequent years due to repeat business, new customer referrals and customer loyalty. Learn more about the design and deployment of holistic retail bank customer-centric strategies that synthesize critical information and […]

Share

HELOC delinquency rate falls below 1 percent

Posted on Oct 26 2012 by

During Q2 of 2012, home equity line of credit (HELOC) delinquency rates were the lowest in recent years. The delinquency rate fell below 1 percent for all performance categories: 30 to 59 days past due (DPD) fell to 0.88 percent; 60 to 89 DPD was at 0.42 percent and 90 to 180 DPD was at […]

Share

Bankcard utilization rates declining, but still high for subprime

Posted on Oct 25 2012 by

Not surprisingly, bankcard utilization is the highest among subprime consumers with VantageScore D and F tiers having average bankcard utilization rates of 68% and 81% respectively. In comparison, VantageScore A tier (super prime) consumers had an average bankcard utilization rate of 6% and VantageScore B tier (prime) consumers had an average bankcard utilization rate of […]

Share