subprime auto loan การใช้

• The Dallas-based company is a provider of subprime auto loans in the United States.
• It makes it more attractive for institutions with lower grade loans such as subprime auto loans to sell bonds.
• The news is the latest blow to the subprime auto loan industry, which has been rocked by high loan losses and an accounting imbroglio.
• Consumer Acceptance made a special provision to its reserves to cover higher-than-expected losses from a now-discontinued subprime auto loan business.
• Golden State also owns First Nationwide Mortgage, the nation's eighth biggest mortgage servicing company, and Auto One, which writes prime and subprime auto loans.
• General Electric's financial services arm, GE Capital Services, said it expected to double its $ 1 billion subprime auto loan portfolio by the end of next year.
• The so-called subprime auto loan industry has been in crisis since late last month, when Lake Forest, Illinois-based Mercury Finance Co . revealed it had over-stated earnings for the last four years.
• "Our job is to differentiate between bad things happening to good people, and just bad people, " said Tommy A . Moore, chief executive of First Investors Financial Services Inc ., a Houston-based company that writes subprime auto loans in 17 states.
• Auto loan losses for companies lending to high-risk borrowers rose 50 percent in June from last year, though the deterioration rate slowed in the past year, according to Moody's Investment Services Inc . Moody's said write-off rates increased in June, reflecting both higher losses in older loan pools and above-average losses among new loans, according to a survey of 106 securities backed by a total $ 18 billion in subprime auto loans.