Subprime, Alt-A Delinquencies Piling Up

 · I think it’s interesting that the guy took the subprime and Alt-A market and lumped them together as subprime. To me, that’s the correct categorization of this problem. People who are saying that subprime is a small component of the market are neglecting the impact of Alt-A, which is now supposed to be the elephant in the room.

The united states subprime mortgage crisis was a nationwide financial crisis, occurring between 2007 and 2010, that contributed to the U.S. recession of December 2007 – June 2009. It was triggered by a large decline in home prices after the collapse of a housing bubble, leading to mortgage delinquencies and foreclosures and the devaluation of housing-related securities.

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Beyond all the news on the causes of, and policy responses to the current US economic crisis focusing almost solely on financial markets, it’s worth paying more attention to causes and policy responses for households.One household-level cause fits with the implications of a host of other evidence about credit choices: consumer overoptimism.

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 · Essentially, the subprime mortgage industry – which lends to consumers with credit issues – is gone. Alt A lenders, those one rung up the ladder creditwise, will be next. Together, they comprise approximately 40% of the market.

The Federal Reserve reported the number of borrowers with auto loans more than 90-days delinquent shot up by 1.5 million in the fourth quarter, reaching a total of 7 million – the highest mark ever in absolute numbers, though not as a percentage of the auto-loan market, which has ballooned over the past seven years.

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Subprime, Alt-A Delinquencies Piling Up By Paul Jackson on the Housing Wire : Think of those highway pileups, where one car stops and 50 more cars behind it run into each other – that’s pretty much what appears to be taking place in the nation’s mortgage market, thanks to a growing trend towards foreclosure moratoria that have slowed foreclosure roll rates.

99 comments for " Subprime Arrives: Auto-Loan Delinquencies Spike to great recession levels. and the pile up of overproduced new cars sitting unsold on lots.those residuals are going to plummet.. credit unions have been paying dealers up to 2% origination fees for alt a paper. Problem.