About us.

The Product: Lenders Protection Program

Lenders Protection is a risk management program with default insurance coverage allowing approval for near/non prime automobile loans. Lenders Protection allows lenders to customize their specific costs and desired ROA while utilizing the Lenders Protection pricing engine.

The Value Proposition

One particularly appealing aspect of the Lenders Protection program is that it does not require the generation of new business activity with borrowers, but rather, takes advantage of the existing application flows already being processed. It provides loan officers with technology that instantaneously delivers an insured alternative for loans that were otherwise going to be disapproved. It also provides lenders with a way to reduce down payment requirements that sometimes cause borrowers to secure their financing through the dealer.

Open Lending provides a powerful value proposition to its customer:

Lenders will:

  • Significantly increase their vehicle lending volumes
  • Improve the profitability of their lending operations
  • Enhance the services they deliver to their borrowers
  • Increase return on assets and profitability

Lenders Protection will:

  • Help lenders approve loan applications being declined today along with helping book more approved and conditioned loans
  • Allows lenders to provide automobile loans outside their normal prime lending guidelines
  • Help lenders generate more loan applications than they receive today
  • Help lenders mitigate risk while still offering attractive rates

Other program features and benefits:

  • No costs to implement (no implementation fees, set up costs)
  • Fast and easy to implement in 30 days or less
  • Lender controls all credit decisions
  • Lender performs servicing and loan collections
  • No minimum transaction or funding commitments
  • Improve auto dealer loan volumes and stronger relationships
  • Expand sales of auto loan related products (GAP waiver, warranty, insurance)