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TAG SEARCH RESULT: subprime

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October 8, 2014

Proceed With Caution

Data from the second quarter didn't support talk of a subprime auto bubble, with subprime financing showing signs of leveling off and delinquencies remaining at historic lows.

October 7, 2014

No Subprime Bubble in Sight, Equifax Says

The credit reporting agency says there are no signs of a subprime bubble despite totals for new credit and new loans originated reaching all-time highs through June.

September 3, 2014

Subprime Financing Begins to Level Off, Experian Says

The percentage of new-vehicle loans made to credit-challenged car buyers was at 15.1% in the second quarter of 2014, down from 22.1% in the same period in 2013, according to Experian Automotive.

August 26, 2014

Equifax Sees No Evidence of Subprime Auto Bubble

A monthly report from the firm shows that subprime auto lending has been fairly stable since 2012, and that originations have been shifting toward the higher end of the subprime credit-score spectrum, despite reports of an imminent ‘bubble’ in subprime lending.

August 21, 2014

CFPB Fines Subprime Finance Source $2.75 Million

First Investors Financial Service Group was charged with providing inaccurate information to credit reporting agencies due to a known computer glitch. The finance company was ordered to pay a fine and identify and correct affected consumer credit profiles.

August 7, 2014

Santander Consumer USA Receives DOJ Subpoena

In a regulatory filing Thursday, Santander Consumer USA disclosed that it has received a civil subpoena from the U.S. Department of Justice requesting documents related to subprime auto lending. Earlier in the week, GM Financial filed a similar report.

August 5, 2014

GM Financial Subject of DOJ Investigation

In a Securities and Exchange Commission filing this week, GM Financial revealed that it was served with a subpoena by the U.S. Department of Justice. It is requesting documents related to the origination and securitization of subprime auto loan contracts dating back to 2007.

May 22, 2014

Auto Loan Debt Reaches Three-Year Mark, Delinquencies Remain Low

Since 2011, auto loan debt per borrower has increased 13%, according to Transunion. The firm also reported that delinquencies experienced a sharp drop from 2013's end-of-year quarter.

April 24, 2014

Moody’s: Subprime Auto Risk Factors on the Rise

With subprime auto lending volumes having more than doubled since the 2009 financial crisis, Moody’s expects to see higher credit losses, which have been gradual so far.

April 1, 2014

Industry Sales Poised for Spring Rebound, CNW Predicts

The market research firm says improvements in several key metrics last month are setting the stage for a spring rebound in vehicle sales.