While analysts looked to sooth concerns about the bank card default rate reaching a 42-month high, S&P Dow Jones Indices and Experian pointed out that auto finance defaults in January remained at a level typically seen during the opening month of a calendar year.
Consumer Portfolio Services chairman and chief executive officer Brad Bradley not only summarized how his company navigated the fourth quarter, but the outspoken industry veteran also perhaps gave a concise assessment of what’s happening at other subprime auto finance companies and the deal
The latest TransUnion Industry Insights Report found that 80 million consumers held a vehicle lease or retail installment contract as of the close of 2016.
Reasons that S&P Global Ratings analysts expected to see when comparing December U.S. auto loan ABS performance against the previous month surfaced again, according the firm’s latest report released on Wednesday.
Repossession and skip-tracing services provider Loss Prevention Services (LPS) announced on Thursday that the company has chosen MBSi Corp. as its assignment and compliance management solution.
The auto finance default rate reported by S&P Dow Jones Indices and Experian for December fell in line at nearly the same reading as what analysts reported at the close of each of the previous two years.
With the staff at SubPrime Auto Finance News fresh for 2017, we gathered up some noteworthy announcements that arrived while we celebrated the close of a great year with family and friends.
Casual observers might panic when they see TransUnion’s expectations for 2016 to close with a 7.0 percent year-over-year increase in the 60-day delinquency rate along with that reading set to approach the highest level in eight years by the time 2017 finishes.
There is, admittedly, some “unease” about the health of the new-vehicle market in 2017, Scotiabank said in an analysis.
Part of the dialogue happening at the recent SubPrime Forum during Used Car Week stemmed from whether or not finance companies — especially ones that specialize in subprime paper — were tightening their underwriting.