Addison, TX (April 5, 2016)
Digital Matrix Systems, Inc. (DMS) today announced the release of an attribute set designed to help meet the specialized needs of auto finance lenders. This set of 129 attributes serves as a supplement to the DMS Summary Attributes™, and is broken out into auto, bankruptcy, collections, and deferred education categories.
Auto loan performance has been of particular interest to regulators in recent years, particularly those loans in the non-prime segment. Lending to consumers with lower credit scores, as well as lengthy vehicle financing terms, can expose lenders to increased risk and regulatory review.
The DMS Auto Finance Attribute set contains attributes that cover new credit concepts and improved attribute calculation methods. The attributes support TransUnion 4.0, Equifax 5, Equifax 6, and Experian 7, enabling lenders to leverage them in credit policy and models.
“Car loans currently have a faster pace of growth than any other consumer debt,” said David Graves, DMS executive vice president. “We’ve developed this set of attributes in direct response to the unique needs of auto finance lenders in the current economic cycle. Increased competition can cause lenders to take on more risk, and DMS is eager to help our clients and partners mitigate that risk.”
About Digital Matrix Systems, Inc.
Founded in 1982, DMS is a leading risk management solution provider that helps clients leverage the power of data to make better-informed business decisions. Through an integrated product suite, DMS delivers secure access to consumer and commercial credit bureaus, as well as specialty data providers. As a reliable partner DMS helps leading companies predict and manage risk in a variety of industries, including financial services, insurance, and brokerage services. The company provides data warehousing, advanced analytics, scoring models, and comprehensive consulting services, delivering strategic solutions tailored to each client’s business goals. For more information, visit www.dms.net.
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