NAF Review: Lenders Seeking Servicing Transparency

I just spent three days in Plano at the NAF Association’s Non-Prime Automotive Financing Conference. It was attended by many of the leading minds in the auto finance industry, and it provided a wealth of valuable educational sessions as well as the opportunity to connect with peers to discuss the most pressing issues in the industry today.

Over the course of several conversations at the conference, I heard numerous calls from lenders for increased transparency from their servicing partners. It may seem like a no-brainer, but lenders want access to the reports, data and analytics that give them a full picture of how their portfolio is performing. The technology to provide this crucial information in real-time exists today more than it ever has before, so why don’t all lenders feel like they are getting access to it?

All of these calls for transparency, analytics, reporting, etc. are precisely what we’re solving at Servicing Solutions, and they speak to why I was so excited to join the company after nearly 20 years in the automotive and technology sectors. Transparency, customer-focused and flexible are often just empty buzzwords used corporations…but I’ve seen firsthand how they are truly part of our corporate culture here at Servicing Solutions.

In recent LinkedIn posts, we’ve been asking questions similar to what I heard in Plano. Is your loan servicer adaptable to your needs? Do they use state-of-the-art technology and analytics? Are they flexible? Are they focused on the customer experience?

If the answer to any of those is no, perhaps it’s time to think about a change.