-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" -https://www.cnn.com/2019/02/13/business/delinquent-car-loans/index.html
"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" -https://libertystreeteconomics.newyorkfed.org/2019/02/just-released-auto-loans-in-high-gear.html
+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! -https://www.fitchratings.com/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... www.sec.gov/litigati...in/2018/34-84829.pdf
Action:
Short
Trade active:
