Precise Valuations Reduces Losses, Helps Lenders Expand Portfolio Profit Potential
Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, today announced its History Adjusted Valuations (HAV) data and resources will be integrated into an interface with defi SOLUTIONS, a leading innovator in lending industry software.
History-Adjusted Valuations are a VIN-specific, analytics-driven resource that delivers Black Book’s most precise vehicle valuations, helping automotive professionals determine the impact a vehicle’s history has on its value. defi SOLUTIONS becomes the first loan origination platform to include Black Book’s HAV data feed, and users benefit by identifying undesirable deals prior to the origination process. What’s more, users can improve advance amounts to minimize future loss severity; prevent dealer fraud; pinpoint active loans in Collections/Servicing; and use HAV to set floors more accurately when remarketing.
Even with the use of vehicle history reports, automotive professionals are still reliant on making an unscientific, educated guess as to the impact a vehicle’s history has on its value, which often leads to mistakes in the valuation process. HAV helps automotive professionals remove the guesswork involved by providing access to a more precise value on each individual vehicle.
“defi SOLUTIONS has always strived to be a pioneer and innovator in loan origination solutions,” said Stephanie Alsbrooks, CEO of defi SOLUTIONS. “In continuing this trend, we’re proud to offer Black Book’s unique History-Adjusted Valuations, a first-of-its-kind resource to help automotive professionals further pinpoint the most accurate value of a vehicle.”
“Having the most precise, accurate value possible is extremely critical during the loan origination process,” said Jared Kalfus, Executive Vice President, Revenue at Black Book. “The ability to establish the right value at the time of origination has several spillover effects, such as loss reduction and healthy long-term portfolio expansion potential for each lender.”
About defi SOLUTIONS
defi SOLUTIONS provides the only leading edge, browser-based loan origination system (LOS) platform that is completely configurable by lenders. The defi loan software system allows lenders to manage the application lifecycle and receive analytics from a single, highly flexible platform. defi SOLUTIONS services are affordable, scalable and easily changed with market demands. For more information, go to defiSOLUTIONS.com, defiANALYTICS.com, defiSERVICING.com or defiEXCHANGE.com.
About Black Book
Black Book® is best known in the automotive industry for providing timely, independent and precise vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. Since 1955 Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of Hearst, and the company maintains offices in Georgia, Florida, and Maryland as well as the Canadian Black Book in Toronto. For more information, please visit BlackBook.com or call 800.554.1026.