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Auto lending still healthy despite increase
Posted on Mar 10 2013 by daniel.almasy
Experian Automotive’s Q4 2012 credit trends analysis found that 60-day delinquencies rose from 0.72 percent in Q4 2011 to 0.74 percent in Q4 2012. It was the first time in three years that 60-day delinquencies experienced a year-over-year increase.
Study recommends monitoring security and privacy practices of vendors
Posted on Mar 03 2013 by daniel.almasy
According to a recent Ponemon Institute study, 65 percent of study participants say their organization has had a data breach in the past two years involving consumer data outsourced to a third party. Most of these are preventable, as employee negligence accounts for 45 percent of data breaches and lost or stolen devices account for 40 percent.
Most “unscoreable” consumers are not subprime
Posted on Feb 24 2013 by daniel.almasy
The average unscoreable consumer has a good job and a better-than-adequate credit profile. Sixty-one percent of unscoreable consumers hold professional level or skilled labor jobs, 30 percent have credit profiles that fall into the super prime/prime category and 20 percent are considered near-prime.
Almost half of consumers want to improve credit scores
Posted on Feb 03 2013 by daniel.almasy
According to a recent survey that asked Americans about their understanding of credit scores 83 percent have checked their credit scores and nearly half (42 percent) want to improve credit scores, but don’t know how. Sixty-five percent of respondents indicated they consider their credit score when engaging in credit-related activities such as applying for a new card or skipping a payment. When it comes to gender and credit, women (68 percent) are more likely than men (61 percent) to consider their credit score before making credit usage decisions.
Most consumers see score improvement
Posted on Jan 27 2013 by daniel.almasy
Roughly 70 percent of credit scores change by up to 20 points in any given 90-day window. Most consumers experience a score improvement rather than a score drop, with 56 percent of consumers shifting higher, 34 percent shifting lower and 10 percent staying the same.
First mortgage default rate drives increase in national credit default rate
Posted on Jan 21 2013 by daniel.almasy
The December release of the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed the national composite* increased for the second consecutive month, reaching 1.64 percent in November. The first mortgage default rate also continued its increase, moving from 1.47 percent in October to 1.58 percent in November. All other loan types – auto loans, bankcard and second mortgage – posted decreases in their default rates in November.
Two-thirds of the national population has one or more bankcards
Posted on Jan 12 2013 by daniel.almasy
Bankcard originations have continued to increase, with Q3 2012 originations increasing 32 percent over Q3 2011. On average, 66 percent of the population now holds one or more bankcards. However, the percentage of consumers who have a bankcard varies greatly by VantageScore® tier:
Northeastern states dominate top 10 list
Posted on Jan 06 2013 by daniel.almasy
To learn the status of Americans’ current credit card spending, Credit.com recently compiled a list of the states with the highest average bankcard balance per consumer in the third quarter of 2012. While several Northeastern states dominated the list, Alaska took first place, with an average bankcard balance per consumer of $5,572. On the other end of the spectrum, North Dakota and Iowa had the lowest bankcard balances, at $3,595 and $3,624, respectively.
Mortgage originations increase significantly year over year
Posted on Jan 04 2013 by daniel.almasy
To learn the status of Americans’ current credit card spending, Credit.com recently compiled a list of the states with the highest average bankcard balance per consumer in the third quarter of 2012. While several Northeastern states dominated the list, Alaska took first place, with an average bankcard balance per consumer of $5,572. On the other end of the spectrum, North Dakota and Iowa had the lowest bankcard balances, at $3,595 and $3,624, respectively.
Nonprime and subprime auto lending increases while delinquencies continue to decline
Posted on Dec 16 2012 by daniel.almasy
Findings from Experian’s latest State of the Automotive Finance Market analysis showed market share for nonprime, subprime and deep subprime automotive loans for new vehicles grew by 13.6 percent and new vehicle leasing increased by 7.53 percent year over year in Q3 2012. Thirty-day delinquencies fell slightly from 2.78 percent in Q3 2011 to 2.67 percent in Q3 2012 and 60 day delinquencies fell from 0.71 percent in Q3 2011 to 0.69 percent in Q3 2012.
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