Tag: Experian
Universe expansion is key to any lender's growth strategy. Sophisticated, advanced risk models, such as the VantageScore®3.0 model, allow lenders to score up to 35 million more consumers than other risk models.
According to Experian Marketing Services’ Q1 2014 Email Benchmark Report, personalized abandoned cart emails that dynamically show the actual customer cart had 25 percent higher transaction rates than reminder emails that just linked back to the brand’s Website.
A recent Experian Consumer Services survey focusing on the most important attributes in a prospective spouse found that married adults value financial responsibility more than physical attractiveness.
With the cost of new vehicles continuing to increase, consumers are opting for longer loan terms.
According to the latest Experian-Oliver Wyman Market Intelligence Report, mortgage originations for Q1 2014 decreased by 53 percent over Q1 2013 - $235 billion versus $515 billion, respectively.
Although 60-day automotive loan delinquencies fell 1.7 percent at a national level when comparing Q1 2014 to Q1 2013, twenty-two states actually experienced a delinquency increase.
Experian's most recent Credit Trends study analyzing current debt levels and credit scores in the top 20 major U.S. metropolitan areas found that Detroit, Michigan, residents have the lowest average debt ($23,604) and Dallas, Texas, residents have the highest average debt ($28,240).1
Following a full year of steady improvement, small-business credit conditions stumbled during the first quarter of 2014.
As part of its guidance, the Office of the Comptroller of the Currency recommends that lenders perform regular validations of their credit score models in order to assess model performance.
The security world was taken by surprise earlier this month when researchers discovered Heartbleed, a new large-scale threat that exploits a security vulnerability in OpenSSL.
A recent survey focusing on the credit behavior of Millennials (age group 18 to 30) shows that 90 percent are familiar with cosigning and two-thirds have used a cosigner in the past.
In an effort to understand consumer needs better and help lenders educate their customers, VantageScore® Solutions surveyed more than 200 lenders nationwide on the topic of score reason codes.
Auto financing became easier to obtain in Q4 2013 and the market share for new vehicle loans in the nonprime, subprime and deep-subprime credit tiers increased slightly to 34.1 percent of all new loans, up from 32.8 percent in Q4 2012.
According to Experian Marketing Services' annual Email Market Study, personalized promotional emails have 29 percent higher unique open rates and 41 percent higher unique click rates than nonpersonalized mailings.
The most recent Experian State of the Automotive Finance Market report shows more consumers are leasing vehicles. Leases accounted for 28.4 percent of all new vehicles financed in Q4 2013 - the highest level on record since 2006.