Creditunions.com recently did a great article on non-prime (or subprime) auto lending, including our pilot program. Check it out here:
Wall Street deal-making is raising the specter of a subprime auto lending bubble much like the slice-and-dice, securities-driven mortgage bubble that brought the economy to its knees when it burst in 2008. “Investors, driven to near insanity by the Fed’s interest rate repression, have developed an insatiable lust for structured securities backed by subprime auto loans.” — Wall Street blogger Wolf Richter. In that column, Richter also discounts a new Equifax report that says — based on its analysis of hundreds of millions of consumer records — that subprime auto lending is growing at a steady pace, unlike the wildfire growth of the housing market and…Click to Continue Reading
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