COLUMBIA, MD – Credit Management Solutions, Inc. (CMSI) and Black Book announced an agreement to provide CMSI eXchange an affordable, monthly valuation and analytics service for auto portfolios. CMSI eXchange will provide lenders access to timely and accurate valuation information for their portfolios.
Combining the power of CMSI’s decision engine technology with Black Book’s trusted asset data, CMSI eXchange is a powerful, easy-to-use business intelligence tool for Consumer Lending, Collections and Portfolio Managers. Using CMSI’s decision engine and advanced business intelligence dashboards, automobile lenders will be able to view and analyze the effect of changing asset values on their portfolio on a monthly basis.
“Having actionable insight into portfolio performance and independent, timely data on underlying collateral value is more important for auto lenders now than ever before”, said Black Book President, Tom Cross.
“Working with CMSI allows us to provide that independent, data to lenders in a very accessible and affordable way. Rather than getting values annually, the portfolio can be updated monthly, giving the lender the ability to react much more proactively to changes in the marketplace, as well as changes in regulatory requirements,” added Cross.
In addition to the valuation services, CMSI has developed enhanced business intelligence dashboards, to allow lenders to manage capital requirements, loss reserves, return on Assets, and credit strategy. It can help identify positive and negative credit trends early, and allow lenders to stay on top of all of the current and ongoing compliance requirements. Online dashboards provide portfolio segmentation by vehicle class, year, make, and model.
Chip Riordan, president of CMSI said, “This agreement with Black Book, along with our Portfolio Management tools, illustrates CMSI’s strategy to provide more value to automobile lenders. Our decision engine technology, coupled with Black Book’s data will empower executives from banks, finance companies, and credit unions to have valuable information at their fingertips and more control.”
As lenders become even more focused on accurately valuing their assets, CMSI eXchange will help them determine the true value of their portfolio. The tools provide trending to help lenders manage pricing, origination, collection and recovery activities.