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Modeling, alternative data, AI help lenders in pandemic

Assessing the impact of the coronavirus pandemic on a customer’s credit standing is similar to a dean of admissions judging prospective college students: the more information they have, the faster a decision can be made. Likewise, auto lenders’ decisioning processes ascribe values to certain components of a consumer’s credit history, …

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Help from within for auto recyclers, F&I managers

Every sector of the U.S. economy, it seems, has been touched by the coronavirus pandemic. Retail, entertainment, hospitality, health and service are among the most affected industries, given their consumer-facing nature. Yet the deadly virus has touched essential service workers who don’t often make headlines, who worked quickly in the …

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Tools help lenders weather pandemic's credit upheaval

While the coronavirus pandemic is shifting consumer credit metrics and disrupting marketplace trends, credit and automotive finance experts say lenders are adapting to the changing environment. Lenders have more tools at their disposal for guidance and clarity than they did during the 2008 financial crisis, such as employment verification instruments …

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