Originations and Issuances, by the Numbers New mortgage originations reached $474 billion in Q2 2019, up from $437 billion in Q2 2018 (an 8.5% increase), according to data from the Federal Reserve Bank of New York. Housing debt climbed to $9.41 trillion in Q2 2019, up from $9.00 trillion versus a year ago (an increase of 4.6%). Housing debt remains the leading source of consumer debt in the...
The phrase “winter is coming” was more than just a motto to House Stark in “Game of Thrones.” It was both a warning and a call to vigilance – the honor in readiness and preparation that was the key to victory. Subprime ABS participants should heed that call. With uncertainty swirling about the economy, even the most sure-footed optimist should be concerned for what lies beyond the seemingly safe...
It happens too often. An auto lender or servicer learns their collateral has been towed for repairs and the garage claims a priority lien that can only be discharged by payment for “major repairs,” compounded by ballooning storage fees, and there is no expectation of payment by the borrower. Faced with paying for expensive charges and fees on a vehicle, many lenders and owners of retail...
Joseph Cioffi recently sat down with Raul Panganiban of ValueWalk, a site covering the latest financial news impacting hedge funds and asset managers with an emphasis on value investing, for their podcast “ValueTalks.”
Joseph Cioffi recently sat down with Nick Zulovich of SubPrime Auto Finance News for an episode of the Auto Remarketing Podcast.
As we continue to break down and analyze the responses to our subprime auto survey, covered in our inaugural market study, servicers, deserve a closer look given the unique vantage point they have in securitizations.
Individual stories tend to get lost when stories are told on a massive scale. Reporting on student debt as a $1.5 trillion problem is like watching buildings being crushed by Godzilla in scenes of sweeping destruction – the focus is on the giant monster and not the impact on the individuals caught in the chaos. Now, a new type of education finance option, known as the Income Sharing Agreement...
