July 12, 2016

In this brief but informative webinar, you'll learn the factors needed to successfully service loans in today's FinTech environment, including:
  • Multi-channel communication strategies to connect with millennial borrowers
  • Data transparency throughout the origination, fund investor, and leverage provider chain
  • Cloud-based servicing platforms that drive scalability, flexibility and security
  • Rapidly evolving compliance environment impacting  borrower communications, data security and overall business practices

Subprime auto-loan loss expectations are up. And that could be a downer for the auto market and some lenders.
Eighteen percent of auto-loan principal dollars securitized by subprime lenders in 2015 aren't likely to be repaid, according to a report by credit-ratings company DBRS Inc. If so, that would mark a sharp rise from 14.4% in 2014 and 12.8% in 2012. The data is based on six subprime auto-loan securitizers, including the two largest by volume, Santander Consumer USA Holdings SC 4.34 % and AmeriCredit.  Read more.

The automotive industry is composed of a few top global multinational players and several retailers. The multinational players are mainly manufacturers by trade whereas the retail market features players who deal in both new and used vehicles.  Over the last few years, the used car market has demonstrated a significant growth in value contributing the larger share of the overall market value in dollar terms. For instance, in the U.K., the used car market contributed 51% of the total sales in 2014 with GBP 45.1 billion.  Read more.

Subprime Analytics recently reported the largest reduction in subprime auto finance down payments since 2011. Subprime auto finance down payments experienced a 15 percent year-over-year decrease in 2015. While down payments are down, the amount financed is up. According to Experian Automotive, the average used-vehicle loan amount for franchised and independent dealers increased to $18,424 in Q1 of this year.  Read more.

S&P Global Ratings described collateral performance for the subprime sector in its latest U.S. Auto Loan ABS Tracker as "mixed."  Overall on a year-over-year basis, analysts indicated the performance for both the prime and subprime sectors exhibited higher losses and delinquencies, and lower recoveries.  Read more.

Recent events in the marketplace lending industry warrant a discussion of what backup servicing is, and what it should be, in an industry that is redefining the future of consumer finance. Just as First Associates broke new ground as the first (and still only) FinTech servicing platform, we have steadily changed the dynamics of backup servicing through technology, out-of-the-box thinking and a keen focus on supporting our clients' needs.  In this brief but informative webinar, you'll learn the factors needed to create robust backup servicing in the marketplace lending environment.  Click here to watch.
Events

July 13-14, 2016
New York, NY



September 7-9, 2016
New York, NY

September 14, 2016
New York, NY

September 21, 2016
Carlsbad, CA

September 27-28, 2016
New York, NY

October 5-7, 2016
Chicago, IL


First Associates' Contract Verification program provides investors with the peace of mind of knowing that consumer loan contracts are accurate, complete and meet the criteria for the funding program.
  • Confirms and validates each consumer contract within the loan pool
  • Confirms that the loans are accurately recorded
  • Identifies non-conforming contracts for remediation
  • Identifies problem areas in origination
First Associates generates a Verification Report detailing the loans that are eligible for advance and an Exception Report detailing specific reason that each loan was rejected.