Loading...

Insights into the personal loan market

Published: February 9, 2017 by Guest Contributor

A recent analysis revealed a 9-point negative shift in the average VantageScore® for personal loan originations from Q3 to Q4 of 2016. Additional insights into the personal loan market include:

  • 67% of those who opened a personal installment loan had a revolving trade with a balance.
  • 5% of consumers who close a personal loan open another within a few months of the original loan closure.
  • 68% of consumers who open a new personal loan shortly after closing another one do so with the same company.

Lenders must dig deeper to keep their loan volumes up in today’s competitive marketplace. Using a propensity score and attributes, as well as tools to learn more about ability-to-pay metrics and offer alignment, can improve your organization’s marketing and retention strategies.

Learn more>

2-9-2017 11-34-13 AM

Related Posts

As digital borrowing continues to gain prominence, fintech lenders must leverage data and analytics to fuel growth while mitigating risk.

Published: May 20, 2024 by Laura Davis

In March's State of the Economy report, we provide insights into consumer spending, the housing market, originations, and more.

Published: March 20, 2024 by Josee Farmer

This report provides a snapshot of the top monthly economic and credit data, including inflation, the housing marketing, and card balances.

Published: February 29, 2024 by Josee Farmer