Loose auto underwriting points to 'weak' credit outlook, Moody's says | Auto Finance News | Auto Finance News

Loose auto underwriting points to ‘weak’ credit outlook, Moody’s says

The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Wednesday, July 31, 2019. Photographer: Andrew Harrer/Bloomberg

Lenders did little to tighten auto loan underwriting last quarter despite worsening delinquency trends. Last quarter, 3.5% of bank respondents in the Federal Reserve’s Senior Loan Officer Opinion Survey reported to have somewhat tightened credit standards. The remaining 96.5% said standards remained basically unchanged. Given the “rapid rise in auto loan debt,” however, banks would […]

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