If you missed the webinar on Ensuring an Audit-Worthy Repossession Process, let’s get you caught up with some highlights until you can catch the recording for yourself.
Ongoing recovery and repossession challenges along with CFPB updates continue to be a never-ending obstacle in the auto finance industry. In this webinar, industry professionals take a deep dive to uncover industry observations along with CFPB updates and actions that can be difficult to keep up with.
Auto Market Observations
Between record high car prices and increasingly lengthy loan terms (70+ months), US auto debt is also hitting a record high and now accounts for over 9% of total American consumer debt. Matched with inflation and rising gas prices and interest rates, millions of consumers could be at risk to default on their loans. Not to mention the end to the pandemic-induced chip shortage may lower transaction prices, leaving borrowers and lenders upside down with months left in their loan terms.
continue reading »