Tax refunds boost auto ABS cure rates
Nonprime delinquencies fell 63 basis points MoM in February
Delinquencies improved sequentially across nonprime and prime securitized auto loan pools in February driven by tax refund season as annualized net charge-offs climbed. “At the tail end of the year, delinquencies and losses usually tick up as people reprioritize their cash flow, using their funds to buy holiday gifts and cover other expenses,” Ines Beato, […]
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