WEDNESDAY, MAY 30
The Golf Club Fossil Creek
Sponsored by: van Wagenen, Fiserv, Transunion/Factortrust
Join us for some Texas hospitality at this year’s NAF Association Golf Event. Registration includes transportation, green fees, cart, lunch and event prizes.
Golf Event Registration
9:00am to 4:00pm
The Auto Financing Fraud Consortium
Opportunity to ask questions as panels of experts will extensively address aspects of acquisition fraud and post funding fraud.
Representatives from Auto Financing Companies Only
To register for this meeting contact:
Diane Merino at 717-676-1533 or diane.merino@nafassociation.
11:00am – 3:00pm
Quarterly Compliance Roundtable (QCR)
Offsite at GM Financial
A peer-to-peer learning environment with fellow Consumer Credit Compliance Certification graduates, who hold similar positions, and deal with similar challenges.
Compliance Certification Graduates Only
To register for the roundtable click here.
NAF Association Board Meeting
Results from the Annual Non-Prime Automotive Financing Survey
Ben Werner, Director, FICO
Attend and hear an overview of the NAF association’s Annual Non-Prime Automotive Financing Survey. The NAF association has collaborated with AFSA to produce this report where companies in the industry provide data on their operations and this is then augmented with information from TransUnion that shows key trends. This session will provide insights into the industry that are not available anywhere else. Don’t miss the opportunity to hear about the latest in non-prime auto financing.
The One Minute Pitch – Vendors Talk
Rick Sly, Editor, Non-Prime Times Magazine
Our exhibiting companies are here to help you sustain and grow your business to maintain your competitive edge. They’ve got 60 seconds to present how they can do just that. Seize the opportunity to evaluate the products and services that make up our exhibit room! Be prepared to note the companies and booths you will want to visit. Three drawings for cash prizes will be held throughout the session for eligible participants.
Opening Reception – Exhibits Open
Sponsored by Genpact
THURSDAY, MAY 31
Jack Tracey, Executive Director, NAF Association; Sharon Mancero, Senior Vice President, Wells Fargo Preferred Capital; President, NAF Assn.
Disruption in the Auto Industry: Revolution or Evolution
Andy Koblenz, Executive Vice President & General Counsel, NADA
Change is clearly afoot in the auto industry. New technologies, regulatory mandates, and cultural and demographic shifts are bringing new opportunities and challenges. From his front row seat in Washington, D.C., Mr. Koblenz will cut through the hype, discuss what we know and what we cannot know yet, and explore what are the realistic timelines and potential impacts on auto finance.
Session Sponsored by Anderson Brothers Bank
Revisiting the Subprime “Crisis” Facts
Lou Loquasto, Auto Vertical Leader, Equifax; Melinda Zabritski, Senior Director, Experian Automotive; Brian Landau, Senior Vice President, Auto Business Leader, TransUnion
Moderators: Kristin Karwat, CEO, Gateway Financial Solutions, Gary Schultz, Non-Prime Segment Director, Chase Auto
This panel of experts will revisit previous media claims of an impending subprime bubble a year later. What, if anything, has changed? Has the industry adjusted appropriately to higher delinquencies and longer terms? This panel will explore the state of the union and the emerging trends of the non-prime auto financing industry.
U.S. Automotive Vehicle Sales, Financing and Used Car Market Insights
Michael Buckingham, Senior Director – PIN Auto Finance, JD Power
This session will provide attendees with an overview of the key trends, challenges and opportunities in the US Automotive marketplace. Specific areas include: U.S. Auto Sales, Automotive Finance, and Used Vehicle insights.
- 2017 Vehicle Sales Data; Retail Vehicle Sales, Manufacture Incentives, vehicles segment shifts and the outlook for the balance of 2018. (From the JD Power Data & Analytics and Forecasting Teams).
- Automotive Finance origination trends in 2017 and 2018; Segment Share, pricing and pricing trends, new/used mix, leasing data, loan to value data, with an overlay of credit scores, (From the JD Power PIN database).
- Used vehicle trends and outlook: vehicle depreciation results, segment review, forecasted lease returns and their impacts to the marketplace. (From the JD Power Valuation Service Team, formerly NADA Used Car Guide)
Subprime Auto Loan ABS: Losses Rising Less Sharply, But Speed Bumps Remain
Amy Martin, Senior Director, S&P Global Ratings; Ines Beato, Director, S&P Global Ratings
Amy Martin and Ines Beato will discuss trends and outlook for auto ABS issuance, collateral performance, and ABS ratings. Their presentation will also summarize key takeaways from S&P Global Ratings’ recent Subprime Auto Loan ABS Tracker report including vintage analysis for 17 subprime securitizers compared to S&P’s Subprime Auto Loan Static Index (ALSI).
Vehicle Sales and Used Vehicle Values Trends
Jonathan Smoke, Chief Economist, Cox Auto
A review of the top economic and automotive market trends and what to expect in the months ahead. Jonathan Smoke, Chief Economist of Cox Automotive, will walk through the economic fundamentals and how trends are impacting new and used car sales including used vehicle prices, wholesale market supplies, CPO trends, auto loan rates, consumer credit access, and the challenges that are impacting dealers the most.
Sponsored by Keith Weiner and Associates
1:30 – 2:30pm
RISK MANAGEMENT TRACK
(Sessions run concurrently with Legal/Regulatory Track)
Mark Archer, VP Collections, Octane Lending; Mike Duke, VP Servicing, United Auto Credit; Steven Garcia, Director of Auto Claims, DIMONT; Moderator: Chris Mitcham, SVP, SNAAC
As technology and regulations change the way we service auto loans must advance as well. In this session we will focus on best practices of our peers as it relates to leveraging analytics to increase collections results. Key questions will revolve around how we take oceans of data and boil down to puddles of actionable information, and how to use new technology or advanced analytics to find and use key performance indicators we may have not leveraged in the past.
Recovery Agent Certification Program Announcement
Jack Tracey, Executive Director, NAF Association
Auto finance companies have been operating independently in developing and managing 3rd party repossession companies. This has resulted in each bank / finance company measuring repossessors in various ways. Each bank may have its own specific set of criteria by which repossessors must comply, making it difficult and costly for repossessors to maintain compliance with the various, often unique standards required by each bank / finance company.
To address this problem a working group of auto finance sources working in conjunction with the NAF Association has created a baseline set of standards which repossessors can be managed and evaluated. This baseline set of criteria is intended to accomplish the following:
- Create a set of baseline criteria for finance companies to use in the oversight, management, and auditing of repossessors.
- Produce a standard list of requirements for repossessors to focus on complying with to best meet the needs of their customers.
- Streamline the process of 3rd party management for both the banks & finance companies and the repossession industry that will result in lower cost and reduced waste / redundancy.
Attend this session as the NAF Association launches its Baseline Standards Program for Oversight, Management, & Measurement of Repossession Companies.
LEGAL REGULATORY TRACK
(Sessions run concurrently with Risk Management Track)
Moderator: Eric Johnson, Partner, Hudson Cook; Steve Levine, CLO, Ignite Consulting Partners; Mark Edelman, Partner, McGlinchey Stafford PLLC; Nanci Weisgold, Partner, Alston & Bird LLP; Neil Abbott, Partner, Gowling WLG (Canada) LLP
In this panel, we will discuss federal and state compliance issues in auto finance origination, servicing and collections. We will address disclosures, fees, new products and services, e-contracting, and why having a comprehensive compliance management system remains important. Additionally, we’ll also discuss why subprime lease financing isn’t so easy for an auto finance company, our observations and lessons learned from performing risk assessments and twins of different mothers: is there a wall to lending in Canada?
Sponsored by Innovative Companies
3:30 – 4:30pm
Why is FASB’s Current Expected Credit Loss (CECL) So Important for a Non-Prime Finance Company?
Ellen Billings, North America Controller, GM Financial; Rob Royall, Partner, EY; Peter Melvin, Principal, EY; Moderator: Jim Bass, SVP, Business Development, Center Street Finance, LP
CECL – Current Expected Credit Loss, the new Financial Accounting Standards Board (FASB) pronouncement regarding a change in the timing of loss recognition for Loan Receivables Accounting. Although this sounds purely technical, understanding the impact on auto finance companies is important to every person in the finance companies as the effect on profit will affect every manager, not just the CFO! The panel members will cover why this new standard is being developed, how companies must manage their portfolio growth to accommodate the new standard, and what companies are presently doing to accommodate the rule which takes effect on January 1, 2020 which is just around the corner.
4:30 – 5:15pm
Srini Bharadwaj, Genpact; Adem Yilmaz, Wells Fargo Auto/Wells Fargo & Co.; Naren Kumar, Independent Consultant; Moderator: Marguerite Watanabe
We hear all about AI, big data, machine learning and data lakes everywhere we turn. How much of this can be applied to non-prime auto financing? Find out about data management and quality, tools and analytics that can be utilized and the types of human resources needed to take advantage of these new data science techniques to enhance your risk management capabilities and business profitability.
5:15 – 6:00pm
Determining which Accounts are Appropriate for Legal Action and What Documentation is Required
Mark Naiman, RMA President and Yale Levy, NARCA President.
Determining the best course of action for your defaulted accounts is an important step in the collection process. This program will examine the legal tract and the analysis needed to determine which accounts are “suit worthy”. The panelists will take you through the decision process, what is considered, and the new documentation standards for auto debt in the RMA Certification Program.
6:00 – 7:30pm
Sponsored by PG Acquisitions Group, Inc.
FRIDAY, JUNE 1 (FRAUD FRIDAY)
Today’s Sessions Sponsored by FICO
Mark Floyd, NAF Chairperson
Annual Membership Meeting
Winds of Change in Washington, D.C.
Chris Stinebert, President & CEO, American Financial Services Association (AFSA)
The winds of change are accelerating in Washington, D.C. and their impact – good and bad — is reaching the non-prime auto finance industry. From philosophical changes at the Consumer Financial Protection Bureau and the modernizing of the Telephone Consumer Protection Act (TCPA) to the potential negative impact of rising interest rates on the non-prime auto finance lenders and their customers, Chris Stinebert, President & CEO of the American Financial Services Association (AFSA), will provide his unique, inside-the-beltway perspective.
9:00 – 9:15am
Fraud Friday Introduction
Joel Kennedy, Director, Spinnaker Consulting Group
“Fraud Friday” is focused on educating NAF members on the various types of fraud that exist and introduce ways to defend ourselves. While many technology innovations have assisted our community in fighting fraud, this has also led to criminals and fraudsters to shapeshift and innovate. The landscape of indirect automotive lending is changing as we embrace more tech, and build frictionless processes. Success requires that we build community and collaborate in new ways to ensure that consumers will continue to have access to credit.
Acquisition Fraud Prevention Panel
Frank McKenna, Chief Strategist, Point Predictive; Fernando Lopez, Partner Emerging Markets, FICO; Josh Wortman, CEO, General Forensics; Garient Evans, Vice President, Client Services, ID Analytics; Steve Craig, Director, Product, Mitek; Moderator: Joel Kennedy, Director, Spinnaker Consulting Group
Our first fraud panel focuses on the types of fraud that banks and finance companies must defend against at the time of customer acquisition. Our panel will cover the various types of borrower initiated, dealer initiated, and collusive fraud that exist. Recent increases in Stolen Identity, the rise of Synthetic Identity will be discussed, along with an examination of advances in stipulation fabrication and manipulation. Dealer initiated fraud impacting collateral values and funding values such as power booking, mechanical misrepresentation, and double booking will also be explored, among many other types of collusion: including fraud rings. Our panelists represent companies that are focused on fighting fraud and applying the latest in AI and other tech to protect lenders.
10:45 – 11:00am
11:00am – 12:00pm
Portfolio Fraud Prevention Panel
Andy Sallee, VP Sales and Business Development, Auto I.D.; Kevin Carr, VP Financial Services
PassTime GPS; Denis Brosnan, CEO, Dimont; Ian Frame, National Accounts Manager, CarFax; Moderator: Joel Kennedy, Director, Spinnaker Consulting Group
Our second fraud panel will provide insight into the variety of post-funding fraud that can be perpetrated by borrowers, dealers, and a variety of other parties such as repair shops and title services. Expect our panel to explore the unique ways that titles and VINs can be manipulated to cover tracks of ownership and mechanical issues. Innovations in data science are driving new and better ways to monitor customer compliance with insurance coverage, and in monitoring dealership fraud trajectories, and in holding dealers accountable for power booking. Finally, recent innovations in GPS tech borne out of the latest in skip tracing requirements will show how portfolio managers can help stop the clock on accumulating losses.
12:00 – 12:15pm