Webinar to Look at Income Verification
Join AFSA on Tuesday, October 2 at 2 p.m. ET for Verify to Clarify – Know More About Your Customers to Help Grow & Increase your Portfolio Profitability, presented by Equifax.
Verifying income and employment is an essential step in the auto lending process, but traditionally is only completed at funding to validate stated income from a consumer. Craig Sims, Vice President, Dealer & Lender Solutions at Equifax, will walk you through four ways you can use income & employment verifications (along with proven use cases) throughout your auto lending process:
- Approval: Fulfill steps early to increase capture rate on applications and improve performance on loans booked
- Funding: Lower loss rates and provide the most accurate information to ensure the consumer can truly afford the loan
- Collections: Prioritize collection efforts and determine where a person works
- QA/Compliance: Verify information to assess internal errors, evaluate risk and monitor dealer reporting
September 20th, 2018 by Dan Bucherer