COLUMBIA, Md. — Credit Management Solutions and Black Book revealed an agreement to provide CMSI eXchange with what executives described as an affordable, monthly valuation and analytics service for auto portfolios.

Officials went on to highlight that the timely and accurate valuation information via CMSI eXchange is geared to benefit consumer lending, collections and portfolio managers. They stressed that by using CMSI's decision engine and advanced business intelligence dashboards, lenders can view and analyze the effect of changing asset values on their portfolio on a monthly basis.

Tom Cross, president of Black Book, echoed CMSI's position about the value of accurate information and expanded upon why his company entered into this agreement.

"Having actionable insight into portfolio performance and independent, timely data on underlying collateral value is more important for auto lenders now than ever before," Cross stressed.

"Working with CMSI allows us to provide that independent, data to lenders in a very accessible and affordable way," Cross continued.

"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," he went on to say.

Chip Riordan, president of CMSI, hailed the new relationship with Black Book, as well.

"This agreement with Black Book, along with our portfolio management tools, illustrates CMSI's strategy to provide more value to automobile lenders," Riordan emphasized.

"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," he also pointed out.

In addition to the valuation services, CMSI also said that it's 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," company executives explained.

"Online dashboards provide portfolio segmentation by vehicle class, year, make, and model," they added.