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Stock impact report

Subprime Auto Loans' High Rates Hit Southern Motorists Hardest [Bloomberg Business News]

Equifax, Inc. (EFX) 
Last equifax, inc. earnings: 4/20 05:24 pm Check Earnings Report
US:NYSE Investor Relations: investor.equifax.com
By Adam Tempkin More stories by Adam Tempkin Analysis of recent auto bonds show highest rates in southeast Disclosure of loan-by-loan data now required by SEC regulation Drivers in the heart of the American South are proving to be the riskiest borrowers, according to newly available data that sheds light on the expanding market for subprime auto loans. Borrowers from South Carolina were charged the highest average original interest rates this year -- 18.36 percent -- according to a loan-level analysis by Bloomberg of a subset of subprime auto asset-backed securities. Alabama, Georgia, Mississippi and Tennessee all had average rates of at least 17.3 percent. Massachusetts and Delaware had the lowest rates. Source: Bloomberg Global Data The data come as concerns mount that underwriting standards in subprime auto debt have been loosening, leading to higher delinquencies and p Show less Read more
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