Deep subprime loan terms fall to 8-year low
Lenders are tightening standards for deep subprime borrowers
Loan terms fell to an eight-year low in October across deep subprime auto asset-based securities (ABS) transactions in tandem with a dip in loan balances as lenders tightened their underwriting standards in preparation for recessionary economic conditions. Loan balances across nearly every credit segment, excluding deep subprime loans, have risen from 2019 to October along […]
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