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We are pleased to confirm that higher loan amounts were successfully released on March 4, 2022, and we have seen an increase in approvals and higher funding ratios with fewer counter-offers as a result.
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Starting April 1, 2022, we will begin a phased roll-out of 84-month maximum loan terms for new and used vehicles up to 4 years old, with less than 60,000 miles.
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Payment to Income (PTI) is a major indicator of risk. Lenders Protection™ underwriting will factor PTI ratios into its pricing for the Indirect channel.
These program enhancements require no action on your part! Please review to confirm your internal policies are consistent with these enhancements. If you have questions, please contact your Account Manager.
