Category Archives: Blog with BEBdata

Subprime Heading South?

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Here’s an excerpt from an interesting blog by Your Marketing Co out of South Carolina.

BEBdata Bankruptcy Graph, Auto LoansIt may not have hit your radar yet, but Wall Street is noticing a trend when it comes to subprime auto loans. According to a story on CNBC earlier this week, negative subprime auto data from CarMax’s recent earnings report is potential bad news for some financial institutions.

Kevin Barker from investment firm Piper Jaffray had this to say in a note to clients on Tuesday in regards the report from Carmax:

“CarMax is the largest used car dealer in the country, we believe these developments indicate we will continue to see more pressure on used car prices in the coming months. The decline in sales from lower tier borrowers (near-prime to subprime) are a clear signal the market recognizes subprime lending may have been overextended. These developments Read More…

 

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Bankruptcy Legislation for Big Banks Gains Steam

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Courthouse - Bankruptcy ChangesChanges to bankruptcy code included in financial services budget bill in House

an article from The Wall Street Journal

WASHINGTON—Legislation to make the bankruptcy of a big bank more feasible is gaining steam on Capitol Hill, a development that could help the largest U.S. financial firms counter criticism that they remain “too big to fail” without a taxpayer bailout.

Changes to the bankruptcy code were included in a financial-services budget bill the House passed Thursday, along with other regulatory provisions such as congressional oversight of the Consumer Financial Protection Bureau’s budget.

But unlike other provisions, the bankruptcy legislation has broad support. That gives it a chance to become law this year.  Read More…

 

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Consumers Continue to Manage Finances Responsibly

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Photo of woman looking at credit card | BEBdata Bankruptcy Data BlogIn the latest ABA (American Bankers Association’s) Consumer Credit Delinquency Bulletin, Auto financing metrics were reported to have shown mixed movement in the first quarter.

Delinquencies settled lower in seven of the 11 individual loan categories compared to the previous quarter, according to the ABA report that defines a delinquency as a payment that is 30 days or more overdue.

In the auto space, direct auto loan delinquencies — contracts arranged directly through a bank — rose from 0.75 percent to 0.81 percent. Meanwhile, indirect auto loan delinquencies — financing arranged through a third party such as a dealer — fell from 1.54 percent to 1.45 percent.  Read More…

 

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The size of the U.S. subprime population is getting smaller

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Subprime auto loansFrom Subprime Auto Financial News

Dealers still see subprime availability as big players adjust By Nick Zulovich, Senior Editor

CLEVELAND and FORT WORTH, Texas -The size of the U.S. subprime population is getting smaller — at least that’s what FICO says. And large finance companies such as General Motors Financial again acknowledged that the segment of its portfolio composed of subprime paper will continue to diminish, too.

However, dealerships that participated in KeyBanc Capital Markets’ monthly survey indicated that they’re still able to obtain financing for their vehicle buyers, even if they fall into the subprime credit tier.  Read More…

 

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Student Loans & Bankruptcy

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Graduate - Gril holding signHere’s an interesting article from CREDIT.COM regarding Student Loans and Bankruptcy written by Constance Brinkley-Badgett.

The belief that student loans are never dischargeable in bankruptcy is, simply put, not true. Student loans can be discharged in some limited cases. In fact, according to a study published in 2011 by Jason Iuliano, a student at the Woodrow Wilson School of Public and International Affairs at Princeton University, at least 40% of borrowers who include their student loans in their bankruptcy filing end up with some or all Read More…

Fewer Subprime Borrowers

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The percentage of Americans with subprime credit scores has fallen to the lowest level in more than a decade, a development that could give bank lending and the overall economy a boost. The share of U.S. adults with credit scores that are considered “subprime” fell to 20.7% in April, the sixth consecutive year-over-year decline and the lowest level since at least 2005, when FICO started tracking the data.

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