| Item | What FirstLook reads | Why a lender cares |
|---|---|---|
| Usability | Freeze or lock, no hit, fraud alert, active duty alert, ID mismatch | A frozen or mismatched file cannot be decisioned at all |
| Score | The auto score, and which score model each lender prices on | Sets the tier, the rate, and whether the file clears the minimum |
| Auto history | Paid auto loans, open auto loan and payoff, lates, repossessions | A paid auto loan earns a better tier at some lenders. A repo closes doors at others |
| Derogatories | Collections with amounts, charge offs, bankruptcies with chapter and discharge date | Each lender has its own limits on unpaid collections and time since discharge |
| Revolving | Balances against limits | High utilisation pulls the score down and signals strain |
| Depth and inquiries | File age, number of tradelines, inquiries in the last 12 months | Thin files fail minimum tradeline rules. Recent auto inquiries show shopping |
| Payments on file | Total monthly payments, with the trade’s payment removed when it pays off | Feeds debt to income |
What it checks
What FirstLook checks before you submit
Every number a lender’s underwriter will look at, worked out the way the underwriter works it out, then held up against every lender in your lineup.
From the bureau
The credit profile
From the application
Income and capacity
Payment to income
Payment divided by gross monthly income. Worked out at each lender’s own rate, because the payment changes with the rate, then compared to that lender’s cap for the tier.
Debt to income
Bureau payments plus housing plus the new payment, divided by income. Flagged as understated when no housing payment was entered, because a lender will add one.
Stability and proof
Income type, time on the job, time at the address. Which lenders require proof of income at this score, and what proof fits the income type. Pay stubs, tax returns, award letter, LES.
From the deal
The structure
| Item | What FirstLook checks | Where deals fail |
|---|---|---|
| Loan to value | Amount financed divided by collateral value, on the book each lender uses. MSRP or invoice for new, J.D. Power or KBB for used, as the lender’s sheet says | The most common hurdle. Negative equity and fees push a fair bureau over a 110% to 130% cap |
| Amount financed | Against each lender’s minimum and the tier maximum | Small loans fall under minimums. Large ones need a higher tier |
| Vehicle age and mileage | Model year and odometer against each lender’s limits and term grid | A ten year old vehicle is out at many banks and capped at 60 months elsewhere |
| Term | Requested term against the maximum for the age, mileage and value | Longer terms need higher collateral values and carry rate adders |
| Backend | Service contract, GAP and other products against each lender’s caps, and counted in loan to value | Anything over the cap comes out of dealer proceeds |
| Rate adders and fees | Age, mileage and term adders, acquisition fees and discounts by tier | The buy rate on the sheet is rarely the final rate |
From the checklist
Stips
Proof of income, proof of residence, proof of phone, proof of insurance, driver’s licence, references, and the customer interview. Each one is matched to what the F&I manager marked as on hand, so every lender comes back ready, workable with the item named, or out.
Fair lending
What it never checks
Race, color, religion, national origin, sex, marital status, age other than legal capacity to contract, or receipt of public assistance. None of these enter a ranking, and the reason behind every ranking is logged so that can be shown.
See the checks run on your own deal
Send a redacted bureau and the deal structure. We will send back every check above, lender by lender, with the sheet line each one came from.