Category: Business & Economy

Carmageddon: Deep Subprime Auto Delinquencies Spike To 10-Year Highs

“As soon as lenders (and the investors behind them) get overconfident that they have better models and can make excess profits by disrespecting credit risk, they always get their hats handed to them sooner or later. The mortgage market learned this lesson at the expense of the entire global financial system, and it is playing out now in a micro-level, in the ABS market for subprime auto loans.”

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CHANGE LANGUAGE/CAMBIAR IDIOMA

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