streetgainer
Short

A toxic cesspool of securitized sub-sub-sub prime auto loans..

NYSE:SC   SANTANDER CONSUMER USA HLDGS INC

-This NON BANK finance company originated more subprime auto loans than any other company in America!

Headwinds:
"More Americans are behind on their car loans than ever before" /2019/02/13/business/delinquent-car-loan...
"there were over 7 million Americans with auto loans that were 90 or more days delinquent at the end of 2018. That is more than a million more troubled borrowers than there had been at the end of 2010 when the overall delinquency rates were at their worst since auto loans are now more prevalent" /2019/02/just-released-auto-loans-in-hig...
+60 and +90 Days past due on sub prime loans are the worst they've been since the 2008 crash!
Auto annualized net LOSS index is the highest it's been since 2009! /site/structuredfinance/abs/auto#
No tax return money coming, which many people rely on to catch up on late bills. -US Govt
Parent company Santander US Holding failed the US Federal Reserve’s annual stress test for three consecutive years!
Then there is this... https://www.sec.gov/litigation/admin/201...

Action:
Short

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