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Tag: subprime
Unpaid subprime car loans hit 20-year high
2016-03-15 18:55:42| Energy - Topix.net
The rate of seriously delinquent subprime car loans soared above 5 percent in February, according to a Fitch Ratings review of loans that are packaged and resold on Wall Street. That's worse than during the Great Recession and the highest level since 1996.
Unpaid subprime car loans hit 20-year high
2016-03-15 18:34:00| Oil & Gas - Topix.net
The rate of seriously delinquent subprime car loans soared above 5 percent in February, according to a Fitch Ratings review of loans that are packaged and resold on Wall Street. That's worse than during the Great Recession and the highest level since 1996.
The Wall Street Journal: Auto sales at risk as defaults of subprime loans rise
2016-03-14 15:23:03| Auto Dealers - Topix.net
To understand how far the U.S. auto business has been reaching for new customers, consider the early performance of a bond issue called Skopos Auto Receivables Trust 2015-2. The bonds were built out of subprime auto loans and sold in November.
Tags: auto
sales
street
journal
Subprime Auto Loans Get Stretched to Seven Years
2015-06-24 11:37:49| Auto Dealers - Topix.net
Of the subprime vehicle loans bundled into securities, 73 percent now exceed five years, up from 64 percent during the first three months of 2014, according to data from Citigroup Inc. Loans as long as seven years are increasingly being put into more bonds as auto-finance companies and Wall Street banks sell the securities at the fastest pace since 2007. The longer loans make it easier for consumers to afford rising new and used car prices by spreading out and lowering payments.
Tags: years
auto
loans
stretched
Mike Shedlock - Retail Sales Bounce as Expected; How Much Longer Can Subprime Auto Sales Lead?
2015-06-12 10:24:31| Auto Dealers - Topix.net
Economists got one right for a change. Retail sales bounced 1.2% led by autos vs. the Bloomberg Consensus Estimate of 1.3%.
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