Open Lending Corporation · NASDAQ:LPRO
Open Lending — Investor Presentation (October 2022)
149 slides from Open Lending's investor presentation, Oct 25, 2022
Slide 1: Welcome to ELR
Welcome to ELR October 25th, 2022
Slide 2: Agenda | Tuesday, October 25th
Agenda | Tuesday, October 25th Event MC 7:30 AM – 8:30 AM Cody Gillund Breakfast Sponsored by Lend Key VP of Marketing Brazos Ballroom Foyer Hot buffet breakfast and beverage center Open Lending and Brazos E-F 8:30 AM – 9:00 AM Opening Remarks Brazos Ballroom Comments from John Flynn, Chairman of th
Slide 3: Opening Remarks
Opening Remarks John Keith Matt Flynn Jezek Roe Chairman of the Chief Executive Chief Revenue Board Officer Officer Open Lending Open Lending Open Lending
Slide 4: Thank You Sponsors!
Thank You Sponsors! DIAMOND PLATINUM
Slide 5: Thank You Sponsors!
Thank You Sponsors! GOLD SILVER
Slide 6: Thank You Sponsors!
Thank You Sponsors! EXHIBITOR
Slide 7: Our Rich History Positions Us for the Next Era
Our Rich History Positions Us for the Next Era 2000 2009 2012 2020 2022 FOUNDED LP RELAUNCH REFINEMENT COLLATERAL FORWARD Austin, TX LPRO 48,000 trading on 2M+ and launched Lenders 12,000 Nasdaq New leadership ProtectionTM Risk Profiles Risk Profiles users in the next era solution 2M+ of Open Lendin
Slide 8: Keith Jezek is Uniquely Suited for CEO
Keith Jezek is Uniquely Suited for CEO 10+ 20+ University YEARS YEARS of Texas and McCombs on Open Lending’s in the retail automotive School of Business Board of Advisors technology industry Graduate
Slide 9: Thank You, John and Ross
Thank You, John and Ross Thank you, John and Ross, for making meaning in the universe. More than 600K lives changed
Slide 10: @penLending
@penLending
Slide 11: 71% of New Hires Invest in Your Growth
71% of New Hires Invest in Your Growth Year End Headcount Customer Sales/Account 250 Support Management 25% 23% 196 200 150 131 100 100 50 0 IT- R&D Corporate 2020 2021 2022 - Projected 23% 29%
Slide 12: 512-740-5808
512-740-5808
Slide 13: Open Lending Remains a Locally and Nationally Celebrated Company in 2022
Open Lending Remains a Locally and Nationally Celebrated Company in 2022 12th on Austin Business Journal’s Best FINALIST Places to Work in FINALIST Central Texas
Slide 14: Open Lending Serves the Underserved at an Ever Growing Rate
Open Lending Serves the Underserved at an Ever Growing Rate Year Over Year 171,697 94,226 78,434 56,705 42,790 29,181 19,346 20,357 13,410 3,939 7,245 135 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 15: Continuous Enhancement of Our Data Volume Yields Predictive Analytics
Continuous Enhancement of Our Data Volume Yields Predictive Analytics That are Always Best-in-Class Inception To Date* Direct Indirect Refinance Total Number 154,835 366,149 104,966 625,950 Total Loan Amount $3,479,151,225 $8,838,158,396 $2,401,334,897 $ 14,718,644,519 Average Loan Amount $22,470 $2
Slide 16: Near and Non-Prime Segment Presents More Opportunity Than Ever
Near and Non-Prime Segment Presents More Opportunity Than Ever
Slide 17: Our Upcoming Report Validates This Market Opportunity
Our Upcoming Report Validates This Market Opportunity 72% 62% 55% of survey respondents of non-car owners of non-car owners said their daily life would said a lack of car have turned down a improve moderately or ownership negatively better job opportunity significantly with car impacts their earning
Slide 18: 2022 Enhancements Enable You to Meet Rising Prices
2022 Enhancements Enable You to Meet Rising Prices Lenders Protection Enhancements Address Over- • Loan amount increases pricing • 84-month term Simplify • PTI Pricing process • Expand vehicle age limits? Expand Boost offering morale
Slide 19: Declining Values Equal Higher Loss Reserves For Uninsured Loans
Declining Values Equal Higher Loss Reserves For Uninsured Loans - - CECL calculations increase as vehicle values decline Loss reserves remain steady for insured loans increasing 85% Reduction of Loss capital efficiency Reserves for Insured Loans - Accelerated Depreciation Risk Falls to Insurance Car
Slide 20: Break
Break Answer in the app: “My experience using Lender’s Protection™ would improve if _____”
Slide 21: Lenders Panel
Lenders Panel Igniting the Future: Industry Trends You Should Care About
Slide 22: Panelists
Panelists Jeremy Jenny Amy Matt Sankwich Vipperman Henderson Roe Chief Consumer VP, Consumer Chief Lending Chief Revenue Services Officer, Lending, CapEd Officer, VyStar Officer Greenstate Credit Credit Union Credit Union Open Lending Union MODERATOR
Slide 23: Trend #1: Rising Prices of New and Used Vehicles
Trend #1: Rising Prices of New and Used Vehicles
Slide 24: How Have Rising Vehicle Costs Affected Your Overall Business?
How Have Rising Vehicle Costs Affected Your Overall Business? New vehicle SaaR at 13.5 million annual units at Q3’22 vs. Q2’21 17 million annual units – low new vehicle supply is driving up values
Slide 25: How Have You Navigated the Steep Increase in Used Car Prices?
How Have You Navigated the Steep Increase in Used Car Prices? Used Vehicle list prices up 8% over last year – avg. price of used vehicle is $28,000
Slide 26: Have Rising Prices Deterred Borrowers This Year?
Have Rising Prices Deterred Borrowers This Year? 42.6 weeks of income needed to purchase a vehicle today versus 34-35 weeks in normal environment
Slide 27: Supply Chain Challenges Persist – Are You Still Impacted?
Supply Chain Challenges Persist – Are You Still Impacted? • While domestic auto production appears to be improving, supply chain challenges and shifting inventory practices have kept production well below pre-pandemic levels. • The auto industry lost $200 billion in 2021. • 11 million fewer vehicles
Slide 28: Trend #2: Going Electric
Trend #2: Going Electric @penLending
Slide 29: EV Sales are Gaining Momentum
EV Sales are Gaining Momentum. Can You Validate This Data? 700,000 652,477 600,000 500,000 400,000 370,726 300,000 200,000 100,000 0 2021 2022
Slide 30: Is EV Legislation on Your Radar?
Is EV Legislation on Your Radar?
Slide 31: How Will Your FI Prepare for Bold New Guardrails?
How Will Your FI Prepare for Bold New Guardrails? of California vehicles must be zero-emission, plug-in hybrid, or hydrogen-powered by 2026 rising to 60% in 2030 and 100% in 2035.
Slide 32: Trend #3: Digitize to Personalize
Trend #3: Digitize to Personalize
Slide 33: Fewer than in financial institutions feel prepared
Fewer than 1 in 5 financial institutions feel prepared to deliver personalized experiences at scale.
Slide 34: How Have You Achieved Personalization at Scale?
How Have You Achieved Personalization at Scale? ● Personalization increases engagement, sales and retention, and reduces operational costs. ● While over 90% of financial marketing professionals understand the need and importance of personalization, only one in five are proficient at it.
Slide 35: Technology Roadmap
Technology Roadmap CTO Update and The Future of Automated Decisioning
Slide 36: Sarah Lackey and Matt Moody
Sarah Matt Lackey Moody Chief Technology VP, IT Integrations Officer Open Lending Open Lending
Slide 37: 2022 Enhancements Help You Process Loans More Efficiently
2022 Enhancements Help You Process Loans More Efficiently and Effectively Product Enhancements Product enhancements and company growth • Affordability and pricing • Expanded loan amounts • 84-month term • Increased max PTI to 18% indirect with PTI pricing • Collateral pricing (all channels, New only
Slide 38: Our Future Focus Ensures the Ability to Unlock Opportunities Together
Our Future Focus Ensures the Ability to Unlock Opportunities Together Enhanced Risk Algorithms Data, Data, Data Pre-Approvals Scorecard Update reporting Explore Best Practices Recession-resistant pricing Self-serve data Adverse Action updates Program expansion SFTP custom reports Dealer Experience N
Slide 39: 2022 Integrations Enhanced Usability and Automation
2022 Integrations Enhanced Usability and Automation • ML Consumer • Modern UI bugfixes • Support for VPP as LP backend • ML DL4 • Streamlined, turnkey implementation • Support for custom backends • Origence L360 • Automatically apply counters and declines • Import LP reason codes • Support for CUDL
Slide 40: Next Year Proves a Continued Commitment to Investment in New Partnerships
Next Year Proves a Continued Commitment to Investment in New Partnerships NEW CU*Answers • Now GA and ready for clients (Direct only) • Support for indirect to be ready by end of Nov. 2022 CU-Interface mPowered • Initial launch complete COMING SOON! Technology Integrations Technology Partners • NewG
Slide 41: Automated decisioning must be implemented now
Automated decisioning must be implemented now to prepare for the future.
Slide 42: Adoption of Automated Decisioning is Key to Differentiation
Adoption of Automated Decisioning is Key to Differentiation 2h 50m 29% 54% Average time spent Of car buyers applied for Car shoppers who in the dealership financing online for their rank experience most recent purchase over price
Slide 43: Lenders Must Leverage Automated Decisioning to be Competitive
Lenders Must Leverage Automated Decisioning to be Competitive • Car buyers spend significant time on vehicle financing • Digitization positively impacts time spent and satisfaction • Borrowers have more financing options than ever before, An excellent digital and are even open to buying a vehicle co
Slide 44: Everyone Wins with Automated Decisioning
Everyone Wins with Automated Decisioning • Standardized decisioning • Higher customer satisfaction & retention Regulator Lender • Cost savings • Auditable underwriting trail • Alignment with ECOA, FCRA • Omnichannel partnership opportunities • Enforced policies and tolerances • Enhanced buying exper
Slide 45: Utilizing Automated Decisioning Has Tangible Results
Utilizing Automated Decisioning Has Tangible Results Avg Look to Book % 12.0% 11.4% 10.0% 8.9% 8.0% 6.0% 4.0% 2.0% 0.0% May-18 Thru Dec-18 Jan-19 Thru Apr-19
Slide 46: Automated Decisioning Streamlines Multiple Aspects of the Decision Process
Automated Decisioning Streamlines Multiple Aspects of the Decision Process Know Your Customer Pricing Credit What takes the longest in your Decision decision process today? Approved Program Loan Eligibility Structure Risk Profile
Slide 47: Automated Decisioning Invites the Opportunity for Sophisticated Scorecards
Automated Decisioning Invites the Opportunity for Sophisticated Scorecards Fraud Checks Used by Lenders Protection Credit Score Member Data Trending Data Alternative Data Manual Review 850 Credit Score Range 300
Slide 48: Sophisticated Scorecards More Effectively Predict Risk
Sophisticated Scorecards More Effectively Predict Risk Predictability of default improved with additional data
Slide 49: Our Proprietary Algorithm Further Enhances Risk-Based Pricing
Our Proprietary Algorithm Further Enhances Risk- Based Pricing Macroeconomic Projections: Credit Score Vehicle Unemployment/Vehicle Values Make/Model Payment-to-Income Loan Term Bankruptcy History Lender Repossession and Sale Costs Origination Channel Age of Vehicle Loan to Value Lender Recovery Rat
Slide 50: Your Digital Go-to-Market Strategy Should Consider These Factors
Your Digital Go-to-Market Strategy Should Consider These Factors AI vs. Buying Risks and Machine Experience Considerations Learning
Slide 51: Our Product Compliments Your Strategy
Our Product Compliments Your Strategy with the Most Comprehensive and Inclusive Product Credit Decision Program Pricing Full Decision Third-party Automation Eligibility Automation (with Counters) Loss Protection Automation Enhanced Scorecards Rules Engines Turnkey services Built by Lender Standard O
Slide 52: Break
Break Answer in the app: “It would be easier to do business with Open Lending if ___.”
Slide 53: Keynote Speaker
Keynote Speaker Heather Penney Heather is a defense policy expert at the Mitchell Institute for Aerospace Studies in Arlington, VA. She is best known for her role as a USAF lieutenant who was one of two F-16 pilots who flew their unarmed planes in attempt to down United Airlines Flight 93 before it
Slide 54: Lunch and Break
Lunch and Break Answer in the app: Is there another lender you know who can benefit from Open Lending? Kindly provide a contact reference
Slide 55: Welcome to ELR October 26, 2022
Welcome to ELR October 26, 2022
Slide 56: Agenda | Wednesday, October 26th
Agenda | Wednesday, October 26th Event MC 7:30 AM – 8:30 AM Cody Gillund Breakfast VP of Marketing Brazos Ballroom Foyer Hot buffet breakfast and beverage center Open Lending and Brazos E-F 8:30 AM – 9:00 AM Program Changes and Impacts Brazos Ballroom Jason Burbach will cover Open Lending program ch
Slide 57: Program Changes and Impact
Program Changes and Impact Risk Management Update
Slide 58: Jason Burbach
Jason Burbach Chief Credit Officer Open Lending
Slide 59: 2022 Brought Affordability Challenges Creating More Pressure
2022 Brought Affordability Challenges Creating More Pressure for Your Customers Underwriting More Upper More Near- Policy Boundaries Range Deals Prime Deals
Slide 60: Open Lending Expanded Loan Amount Parameters
Open Lending Expanded Loan Amount Parameters to React to Market Dynamics LP Direct LP Indirect Scores Prior Updated Diff Scores Prior Updated Diff 700+ $55,000 $60,000 $5,000 700+ $45,000 $60,000 $15,000 680-699 55,000 60,000 5,000 680-699 45,000 60,000 15,000 620-679 50,000 55,000 5,000 620-679 40,
Slide 61: Loan-Term Increased to 84-Months
Loan-Term Increased to 84-Months to Afford More Loans to Segments of Focus
Slide 62: PTI Limit Was Expanded
PTI Limit Was Expanded to Further Reinforce Positive Impact Approvals w/ no PTI Prior Updated Difference cut Before/After Indirect 640+ 15% 18% 3% 79.5%/88.1% 620-639 15% 18% 3% 65.9%/77.7% 560-619 13% 18% 5% 45.0%/67.7% Direct ALL 18% 20% 2% Refinance ALL 18% 20% 2%
Slide 63: Next Year Proves a Continued Commitment to Risk Management Innovation
Next Year Proves a Continued Commitment to Best-in- Class Risk Management Innovation NEW LendPro Score Enhancement • Incorporating additional alternative data sources • Segmented scorecard development • FCRA compliant, adverse actionable risk model LendPro Score Migration • Leads to better pricing,
Slide 64: Industry Speaker
Industry Speaker Elliot Eisenberg Elliot is an internationally acclaimed economist and public speaker specializing in making the minutia of economics fun.
Slide 65: The Economy in 2022: Take a Hike
THE ECONOMY IN 2022: TAKE A HIKE Presented by: Elliot F. Eisenberg, Ph.D. President: GraphsandLaughs, LLC Austin, TX October 26, 2022
Slide 66: The Economy Softens
The Economy Softens GDP = C+I+G+(X-M) \ Prapasziauepe oer
Slide 67: US Light Vehicle Struggle
US Light Vehicle Struggle The lack of chips remains a problem
Slide 68: Real Retail Sales
Real Retail Sales What is surprising is that it they are not much declining
Slide 69: Real Personal Consumption Expenditures
Real Personal Consumption Expenditures It has bounced back and is now on trend despite supply-chain struggles
Slide 70: Household Balance Sheets
Household Balance Sheets Have been falling for two straight quarters. Down $6.3 Trillion from the peak HNONWRQ027S
Slide 71: Household Savings Rates
Household Savings Rates They are sinking as real income decline
Slide 72: Non-Revolving Credit Keeps Growing
Non-Revolving Credit Keeps Growing Revolving credit has totally recovered Non-Revolving Credit Credit Card Balances
Slide 73: Real Per Capita Disposable Income
Real Per Capita Disposable Income It is now down $700 from its pre-Covid level
Slide 74: Oil Prices Moderate
Oil Prices Moderate This tells us global economic activity is picking up and supply is constrained
Slide 75: Trucking Demand Softens
Trucking Demand Softens Slowing demand for goods
Slide 76: Spot Container Prices
Spot Container Prices They are clearly reversing
Slide 77: When Will Supply-Chains Ease?
When Will Supply-Chains Ease? It may have taken a while, but the worst may be over
Slide 78: When Will Supply-Chains Ease?
When Will Supply-Chains Ease? It may have taken a while, but the worst is over
Slide 79: Supply-Chains Appear to be Easing
Supply-Chains Appear to be Easing The improvement is real
Slide 80: Inventory to Sales Ratios
Inventory to Sales Ratios All inventory ratios are returning to normal
Slide 81: University of Michigan Index
University of Michigan Index Combination of Omicron variant, less federal money, and inflation
Slide 82: ISM Manufacturing Softens
ISM Manufacturing Softens It is quickly weakening
Slide 83: ISM Services Number Holds
ISM Services Number Holds It is in the normal range
Slide 84: Small Business Confidence Struggles
Small Business Confidence Struggles The level is below its long-term average of 98. Highly correlated with equities
Slide 85: CEO Confidence
CEO Confidence Index is at lowest level in almost 40 years
Slide 86: Eurozone Investor Confidence
Eurozone Investor Confidence It is profoundly low
Slide 87: Y-o-Y Change in Capital Goods Orders
Y-o-Y Change in Capital Goods Orders Minus defense and aircraft. At 8.8%
Slide 88: Philadelphia CapEx
Philadelphia CapEx Readings are clearly weakening
Slide 89: Percent of Balance 90+ Days Delinquent
Percent of Balance 90+ Days Delinquent All loan types show improvement
Slide 90: Percent of Balance 30+ Days Delinquent
Percent of Balance 30+ Days Delinquent All loan types have bottomed and now show deterioration
Slide 91: Small Domestic Banks Loan Loss Reserves
Small Domestic Banks Loan Loss Reserves They starting declining. Is this a good idea?
Slide 92: Banks Are Simply Disappearing
Banks Are Simply Disappearing Due to relentless economies of scale. 30 banks a quarter disappear
Slide 93: Auto Lending Growth
Auto Lending Growth It sinks only because there are no cars
Slide 94: New Auto Prices Keep Rising But More Slowly
New Auto Prices Keep Rising But More Slowly Inventories are slowly improving
Slide 95: Used Cars Prices Have Peaked
Used Cars Prices Have Peaked They are now equal to their level of a year ago
Slide 96: The Yield Curve Flattens
The Yield Curve Flattens The Fed hikes rates and slows growth
Slide 97: The Yield Curve is Inverted
The Yield Curve is Inverted Yield Curve Inversion Test: 1-Year Treasury Yield – 10-Year Treasury Yield
Slide 98: Fiscal Policy Was Very Stimulative
Fiscal Policy Was Very Stimulative We are no longer enjoying fiscal stimulus
Slide 99: Fed Rate Hikes and Recessions
Fed Rate Hikes and Recessions They generally travel together
Slide 100: Fed Rate Hikes and Recessions
Fed Rate Hikes and Recessions They generally travel together
Slide 101: Fed Rate Hike Expectations
Fed Rate Hike Expectations Markets are almost always wrong
Slide 102: Duration of All Recorded US Recessions
Duration of All Recorded US Recessions Since the Depression they tend to be shorter
Slide 103: They Were Tight and They are Again
They Were Tight and They are Again
Slide 104: Historical Employment Levels
Historical Employment Levels Employment is now 500,000 above pre-Covid levels
Slide 105: The Unemployment Rate is Way Down
The Unemployment Rate is Way Down The decline has been spectacular
Slide 106: Labor Market Are Profoundly Tight
Labor Market Are Profoundly Tight There are 0.60 unemployed persons/job, or 1.7 jobs/person
Slide 107: The Labor Force Participation Rate
The Labor Force Participation Rate It is no longer improving
Slide 108: Retirements Jump and Decline
Retirements Jump and Decline These persons are returning to the labor force
Slide 109: K-12 Teacher Totals
K-12 Teacher Totals They are retiring and quitting in droves!
Slide 110: Day Care Employment
Day Care Employment It is down by about 10%
Slide 111: Births and Deaths in the USA 1935 - Present
Births and Deaths in the USA 1935 - Present Covid has been a disaster
Slide 112: Covid Keeps Many Persons Away
Covid Keeps Many Persons Away Employed but not working own illness
Slide 113: Immigration Has Dramatically Fallen
Immigration Has Dramatically Fallen If it rises it will help soften the labor shortage
Slide 114: New Firm Creation
New Firm Creation It is booming
Slide 115: Quit Rates Have Skyrocketed
Quit Rates Have Skyrocketed Workers are quitting in droves, but this rate has peeked
Slide 116: Wage Growth Gap is Very Large
Wage Growth Gap is Very Large Of those continuously full-time employed
Slide 117: Inflation & The Fed
Inflation & The Fed V eraasavonns ? HS ana LAUGH ( GRA os eS
Slide 118: WwW
WwW Ww ¢ a = | PACK OF GROUND BEEP ISSTHE SAME PRICE: AS AST.MONTH ~
Slide 119: CPI: Inflationary Pressures are Powerful
CPI: Inflationary Pressures are Powerful Watch the core numbers closely
Slide 120: Consumer Price Index: Look at Service Inflation
Consumer Price Index: Look at Service Inflation Inflationary pressures are here, but for how long is the question
Slide 121: Federal Reserve Behavior
Federal Reserve Behavior Most likely scenario Fed funds is currently 3.125% 11/02/22: 3.875%, 10-yr Treasury @ 4.00% 12/31/22: 4.375%, 10-yr Treasury @ 4.00% 06/30/23: 4.825%, 10-yr Treasury @ 3.75%
Slide 122: Housing Inflation is On the Rise
Housing Inflation is On the Rise Had been growing at 3% or less but is now 8.0%
Slide 123: How About Housing?
How About Housing? \ peasaoye
Slide 124: Inventory is Not Declining
Inventory is Not Declining How much it increases is the big question
Slide 125: Inventory is Finally Growing
Inventory is Finally Growing Inventory is rising but not that quickly
Slide 126: Existing Inventory is Rising!
Existing Inventory is Rising! That is why home price appreciation rates are reversing
Slide 127: Case-Shiller M-o-M Appreciation
Case-Shiller M-o-M Appreciation Peak house price appreciation is history
Slide 128: Existing Home Sales Are Softening
Existing Home Sales Are Softening Late 2020 through early 2021 was Peak House
Slide 129: Mortgage Purchase Applications
Mortgage Purchase Applications Purchase volume is at the level of 2014
Slide 130: Home Builder Sentiment Sinks
Home Builder Sentiment Sinks High mortgage rates and supply chain issues are unhelpful
Slide 131: Single-Family and Multifamily Starts
Single-Family and Multifamily Starts SF starts turned around quickly but now rollover
Slide 132: Apartment Vacancy Rates
Apartment Vacancy Rates Rental vacancy rates are at 40-year lows
Slide 133: Millennials Will Keep This Issue Front and Center
Millennials Will Keep This Issue Front and Center Beginning to approach Peak Millennial. Chase them, move-up buyers and Boomers
Slide 134: Construction Costs Rise
Construction Costs Rise The increases are clearly slowing
Slide 135: Double-Wide Mobile Home Prices are Surging
Double-Wide Mobile Home Prices are Surging Is this because home prices are out of reach? Supply-chain issues?
Slide 136: Refinance Activity Sinks
Refinance Activity Sinks 2021 refi was $2.5 trillion but falls to $700 billion in 2022. Down 82% Y-o-Y
Slide 137: What About Things Here?
What About Things Here?
Slide 138: Things Are Definitely Weakening
Things Are Definitely Weakening Growth is strong just about everywhere
Slide 139: Things Are Definitely Slowing
Things Are Definitely Slowing Growth is slowing
Slide 140: Things Are Definitely Slowing
Things Are Definitely Slowing Growth is slowing
Slide 141: Key Takeaways
KEY TAKEAWAYS 1) 2022 will OK, 2023 no so much 2) The Fed will keep raising rates 3) We will create 600,000 more jobs 4) Inflation has peaked 5) Spending on services will rise 6) Inflation, unemployment, and inventory
Slide 142: Any Questions?
ANY QUESTIONS? Elliot F. Eisenberg, Ph.D. Cell: 202.306.2731 [email protected] www.econ70.com Do you want to get my daily 70-word economics email? Please give me your business card or text “bowtie” to 22828 Thank YOU all very very much! @ECON70
Slide 143: Dealer Panel
Dealer Panel Driving Into a Downturn: What’s at Risk for Dealerships and Financial Institutions
Slide 144: Panelists
Panelists Daniel Sam Hank Derica Albers Levin Briley Demint Finance Manager Regional Sales VP, Client Success Finance Manager Nyle Maxwell Manager Covert Auto Open Lending SuperCenter CRIF Select MODERATOR
Slide 145: Have You Seen More Near and Non-Prime Customers This Year?
Have You Seen More Near and Non-Prime Customers This Year? 1 in 3 Americans have a non-prime credit score
Slide 146: What Quality Makes a Lender More Valuable to Dealers?
What Quality Makes a Lender More Valuable to Dealers? Prior relationship 21% Decision turn time 36% Dealer flat 7% Loan to value ratio 36% * Results from Open Lending LinkedIn poll results as of October 18, 2022
Slide 147: How Can FIs Keep Themselves Top of Mind with Dealers?
How Can FIs Keep Themselves Top of Mind with Dealers? "In addition to building a relationship, FIs need to be able to do the following to keep themselves top of mind with dealers: provide loan decisions quickly, fund contracts as fast as possible, and offer a competitive product.”
Slide 148: How are Rising Auto Prices Affecting Near and Non-Prime Customers?
How are Rising Auto Prices Affecting Near and Non- Prime Customers Who Visit You? NEW USED 12.7% 40.5% YoY YoY
Slide 149: Final Thoughts
Final Thoughts ®penLending @penLending