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1
zzyzzx
2022 Jul 27, 10:02am
zzyzzx
2022 Jul 27, 10:02am
Misc says
Notice that the worse offender rates by state correspond to the 13%
the worst offenders...those in DC.
Notice that the worse offender rates by state correspond to the 13%
2
Patrick
2022 Jul 27, 10:35am
Patrick
2022 Jul 27, 10:35am
I worked at Wells Fargo for a year as a contractor, and remember that they had big legal problems because objectively evaluating the probability of loan repayment without regard to race ended up with black people getting fewer loans than any other group.
Wells was accused of being "racist" and they were told to lower their lending standards for black people, because of the "disparate impact" of being objective.
Wells was accused of being "racist" and they were told to lower their lending standards for black people, because of the "disparate impact" of being objective.
3
Al_Sharpton_for_President
2022 Jul 27, 12:39pm
Al_Sharpton_for_President
2022 Jul 27, 12:39pm
Misc says
On time payments is a racist concept.
About 1 outta 4 didn't make last month's car payment.
On time payments is a racist concept.
6
clambo
2022 Jul 27, 3:29pm
"I know what you are; you're all repo men!" Otto.
I remember the ad for some credit repair service:
Black man: "My credit card debt was OUT Rageous!"
I always laughed, like it was something that"happened" to him, not his fault at all.
"Money talks, bullshit walks."
I would not lend a dime to someone who doesn't look like I do, even then probably not either.
It's fuck or walk pal.
I remember the ad for some credit repair service:
Black man: "My credit card debt was OUT Rageous!"
I always laughed, like it was something that"happened" to him, not his fault at all.
"Money talks, bullshit walks."
I would not lend a dime to someone who doesn't look like I do, even then probably not either.
It's fuck or walk pal.
7
GNL
2022 Jul 27, 3:57pm
GNL
2022 Jul 27, 3:57pm
Al_Sharpton_for_President says
Creeping socialism.
Misc says
About 1 outta 4 didn't make last month's car payment.
On time payments is a racist concept.
Creeping socialism.
8
Misc
2022 Jul 27, 4:08pm
About 16% of auto loans are sub-prime. There's about $1.3 trillion in outstanding auto loans. So roughly $200 billion in sub-prime loans. The major banks don't make sub-prime loans directly, but they do loan to the companies that make the loans to the "owners".
Suddenly, the people making loans @ 29% interest don't look that smart. They were just funneling money to people running their own personal ponzi schemes.
Suddenly, the people making loans @ 29% interest don't look that smart. They were just funneling money to people running their own personal ponzi schemes.
9
Misc
2022 Sep 21, 3:13pm
It's not as bad as I feared. Only about 5400 repos per day. About average for the industry.
https://www.driverra.com/car-repossession-statistics/
https://www.driverra.com/car-repossession-statistics/
10
Misc
2023 Sep 21, 1:31am
Ok, so it took a while for the whole subprime auto loan thingy to become a big deal. Who coulda guessed that the lenders would go for cash our-refi loans to subprime auto borrowers. It kinda kicked it down the road a bit.
Who knows maybe if the UAW follows through with massive strikes, the prices of used vehicles will go back up again, improving the collateral base for even bigger loans on very used vehicles.
Anyways, there are a lot more stressed drivers today.
Who knows maybe if the UAW follows through with massive strikes, the prices of used vehicles will go back up again, improving the collateral base for even bigger loans on very used vehicles.
Anyways, there are a lot more stressed drivers today.
people just can't make their auto payments...
the worst offenders...those in DC.
About 1 outta 4 didn't make last month's car payment.
https://www.keloland.com/news/your-money-matters/d-c-southern-states-see-highest-rate-of-late-auto-payments/