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Here we go again


Re: Here we go again

vanillabean wrote:

Subprime borrowers find it easy to get credit cards
How to Buy a New Home When You Don’t Have a Lot of Cash

These articles are over 2 years late, possibly as much as 4 years actually when talking CC's; surprised at that fact but hey.


CC UW is probably as loose as it's ever been within reason (technically have to document income and ability to repay which is post-2008) but mortgages are still far less problematic than what lead up to the crash... I'm more than a little angry that we didn't go after all the people / LO's that committed fraud with the mortgage apps, but much of that is sorted though it still occurs to a much lesser degree.


I don't think the sky is falling yet though I have seen the Discover / C1 rise in default rates and that mirrors my deep subprime Lending Club portfolio, and in both cases that risk isn't borne by the public.  If the big mortgage servicers start reporting more deliquencies, then I'll be worried, till then staying cautiously optimistic.



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