Breakout Session #14

Drue Goodale

Auto Loan Underwriting in the Near-Prime Space - Appropriately Pricing for Risk
Drue Goodale, Open Lending

Sponsored by Open Lending

Making auto loans to lots of members with great credit?  That’s easy…well, its brutally competitive, our look to book ratio is low, and with interest rates these days, we don’t actually make much money… but it is easy, right?  And these loans payoff a lot faster, and well, these members aren’t exactly the most loyal… but the underwriting is easy…

This breakout session looks at risk - how to identify and make sense of risk, how to appropriately price for risk to fund more loans that earn attractive yields to members who need your help, and will offer you loyalty in return.  Long-time industry veteran Drue Goodale presents clarity to sound underwriting and appropriate loan pricing, and a closing comment on risk transference through the use of insurance.

About Drue Goodale

Drue Goodale – Vice-President of Lending Services, Lenders Protection, LLC in Austin, Texas. 

Drue’s career spans more than 30 years in the Texas credit union industry. Drue started as a loan officer and collection manager with an Austin credit union.  He also spent 13 years with a well-known law firm specialized in representing credit unions on a wide variety of lending and regulatory issues. He spent nearly a decade working as the VP of Lending/Chief Lending Officer of a $500M credit union. There he was responsible for all production, underwriting and regulatory-compliance issues for the Consumer, Indirect Lending, Mortgage and Business Lending channels.  As a Lenders Protection Customer, Drue built a $50M portfolio of insured loans with a net ROA exceeding 2.40%. Drue earned a BBA in Finance from Southwest Texas State University, and an MBA from St. Edward’s University.  Drue has attended and spoken at League functions for well over 25 years.  In his role with Lenders Protection, he manages sales and support efforts, shares industry best practices, and helps credit unions grow their auto loan portfolios profitably. The Austin Business Journal has recognized Lenders Protection as one of the fastest growing companies in Central Texas for 3 years in a row (2013, 2014, 2015).

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