Podcasts about subprime

Das ist eine meiner verrücktesten Folgen. Pius Sprenger war bei fast jeder bekannten Investmentbank. Er war dabei, als die Deutsche Bank gegen Subprime gewettet hat. Er war unter dem jetzigen Handelsminister Howard Lutnick bei Cantor Fitzgerald - und jetzt setzt er voll auf Bitcoin.***Leading Partner⚡️ Coinfinity Bitcoin kaufen, verkaufen & Sparplan!

This is an excerpt from a livestream in which I answered chats relating to Real Estate topics and the housing financial crisis. Across The Socials @TheAndresSegovia & Twitter/X @_AndresSegoviahttps://TheAndresSegovia.comAll Affiliate Links: https://theandressegovia.start.page

1. FHA Loan (Federal Housing Administration Loan)Credit Score Requirement: As low as 500 (with 10% down) or 580+ (with 3.5% down).Best For: First-time homebuyers and those with lower credit.Pros: Low down payment, flexible credit requirements.Cons: Requires mortgage insurance premiums (MIP).2. VA Loan (Veterans Affairs Loan) (For eligible military members & veterans)Credit Score Requirement: No official minimum, but lenders may require 580-620+.Best For: Veterans, active-duty military, and qualifying spouses.Pros: No down payment, no private mortgage insurance (PMI), competitive interest rates.Cons: VA funding fee required.3. USDA Loan (United States Department of Agriculture Loan)Credit Score Requirement: 580+ preferred, some lenders may allow lower.Best For: Buyers in rural or suburban areas with low-to-moderate income.Pros: No down payment, lower mortgage insurance costs.Cons: Must meet income and location eligibility.4. Subprime or Non-Qualified Mortgage (Non-QM Loans)Credit Score Requirement: 500-620+ (varies by lender).Best For: Borrowers who don't qualify for conventional loans.Pros: Flexible underwriting standards, alternative income verification.Cons: Higher interest rates and fees.5. Conventional Loan (With a Non-Traditional Lender)Credit Score Requirement: Typically 620+, but some lenders allow lower with compensating factors.Best For: Borrowers with a higher down payment or strong income history.Pros: No upfront mortgage insurance if you put 20% down.Cons: Stricter credit requirements, PMI required if

FED Pivot in 43 Days?! Danielle DiMartino Booth returns to explain why the Federal Reserve may be forced into an urgent policy shift. In this explosive interview, Danielle calls out the true state of the U.S. economy, reveals the massive housing fraud no one is talking about, and explains why the next recession might already be here — even if the data says otherwise.We cover everything from student loans, consumer debt, and buy now, pay later madness to the hidden risks in the auto loan and real estate markets. Danielle shares why she believes the Fed will be forced into multiple rate cuts in 2025, how Jay Powell's narrative is breaking down, and what it means for investors, households, and the market.#FED #economy #stocks Use our exclusive link to save 20% off your first year of QI Annual Daily Feather Subscription:

Bienvenidos a Salud Financiera. Un programa diario dónde puedes aprender y preguntar sobre finanzas personales y mercados financieros.En este episodio #251 analizo la historia de como se gestó la Gran Crisis Financiera y el negocio de la titulización de activos hipotecarios.  Ya disponible el libro "De Cero a Inversor en Fondos": https://www.amazon.es/dp/B0F1SSPFNC#detailBullets_feature_divNo te pierdas nada de nuestra comunidad: https://linktr.ee/misaludfinancieraCurso de ETFs disponible en https://go.hotmart.com/U91482169YCurso de Fondos disponible en https://hotmart.com/es/marketplace/pr...Puedes enviar tus preguntas al email preguntas.saludfinanciera@gmail.com o el teléfono 614239639.Enlaces de Interés- https://www.investopedia.com/ask/answers/050115/whats-difference-between-collateralized-mortgage-obligation-cmo-and-mortgagebacked-security-mbs.asp- https://www.investopedia.com/terms/c/cdo.asphttps://www.investopedia.com/terms/s/syntheticcdo.asp- https://www.investopedia.com/terms/t/tranches.asp- https://www.investopedia.com/terms/c/creditdefaultswap.aspColaboradores del PodcastBit2Me: http://bit.ly/3Wjr4NB Recibe 15€ en Bitcoin con tu primera compraextraETF: https://bit.ly/extraetfUno de los Mejores Screeners de ETFs en Europa

Terminamos con la serie de tres vídeos para desentrañar las causas y cosecuencias de la Gran Recesión. En este tercer análisis, reflexionamos sobre las políticas keynesianas con las que los Estados trataron de reflotar la economía.✍️ Este vídeo está apadrinado por Mintos. En esta plataforma, puedes invertir en el mercado de préstamos (titulizaciones) desde tan sólo 50 euros. Infórmate en: https://bit.ly/Mintos_Rallo_M25Al registrarse con el código GO-RALLO, podrán ganar entre €25 y €200 al ivertir a partir de €1500 hasta el 31 de marzo (sujeto a condiciones). Disclaimer: El contenido de este Canal de YouTube tiene fines únicamente educativos y en ningún caso suponen recomendaciones de inversión o asesoramiento financiero. Hazte miembro en: https://plus.acast.com/s/juanrallo. Hosted on Acast. See acast.com/privacy for more information.

Seguimos con la serie de tres vídeos para desentrañar las causas de la Gran Recesión. En este segundo análisis, reflexionamos sobre las razones que provocaron la quiebra del sistema financiero global.✍️ Este vídeo está apadrinado por Mintos. En esta plataforma, puedes invertir en el mercado de préstamos (titulizaciones) desde tan sólo 50 euros. Infórmate en: https://bit.ly/Mintos_Rallo_F25Disclaimer: El contenido de este Canal de YouTube tiene fines únicamente educativos y en ningún caso suponen recomendaciones de inversión o asesoramiento financiero. Hazte miembro en: https://plus.acast.com/s/juanrallo. Hosted on Acast. See acast.com/privacy for more information.

Auto lenders are keeping an eye on loan production, credit performance and vehicle prices as tariffs loom. Subprime lender Credit Acceptance Corp.'s originations ticked up 0.3% year over year in the fourth quarter to 78,911 loan assignments as the financier grew its number of active dealers.  Negative equity and rising delinquencies continue to be a concern for auto lenders as consumers navigate changing vehicle values and inflationary pressures.  Meanwhile, looming tariffs against Canada and Mexico are expected to drive car prices higher, likely exacerbating dealers' challenges related to supply, profit margins and sales. In this episode of “Weekly Wrap,” Auto Finance News Editor Amanda Harris and associate editors Ashley Savage and James Van Bramer discuss nationwide trends affecting the automotive industry and key updates for the week ended Jan. 31. 

A new book posits that the roots of the rise in crime in East New York, Brooklyn, can be linked directly to a subprime mortgage scandal decades earlier. Author Stacy Horn discusses her new book, The Killing Fields of East New York: The First Subprime Mortgage Scandal, a White-Collar Crime Spree, and the Collapse of an American Neighborhood.This segment is guest-hosted by Tiffany Hansen.

We continue our episodes of the Auto Remarketing Podcast originating from Used Car Week 2024 in Scottsdale, Ariz., with an executive panel moderated by Jennifer Martin of the National Automotive Finance Association. Discussing the subprime market, expectations for this year and more were Doug Busk of Credit Acceptance, Manish Chhabra of Ally and Sharon Mancero of Agora Data.

Comenzamos una serie de tres vídeos para desentrañar las causas de la Gran Recesión. En este primer vídeo, reflexionamos sobre las causas de la burbuja inmobiliaria.✍️ Este vídeo está apadrinado por Mintos. En esta plataforma, puedes invertir en el mercado inmobiliario desde tan sólo 50 euros. Hasta el 31 de enero, los nuevos inversores disfrutarán de un bono de bienvenida de hasta 500 euros (sujeto a condiciones). Infórmate en: https://bit.ly/Mintos_RalloJ25Disclaimer: El contenido de este Canal de YouTube tiene fines únicamente educativos y en ningún caso suponen recomendaciones de inversión o asesoramiento financiero. Hazte miembro en: https://plus.acast.com/s/juanrallo. Hosted on Acast. See acast.com/privacy for more information.

In this episode, we start by discussing the Bank of Canada's final rate announcement of the year. Will it be another 50bps cut, or will they ease up with just 25bps? We break down the economic data driving each case, including GDP contractions, inflation surprises, and the impact on the Canadian dollar. We also discuss Scotiabank's fourth-quarter results—what went wrong with their targets, where they're showing stability, and why provisions and write-offs are key metrics to watch. Plus, we analyze Intel's CEO “retirement,” its struggle to regain dominance in chip manufacturing. Finally, we touch on Goeasy and Affirm Holdings' latest results, exploring what their growth and delinquency data reveal about the health of Canadian and global consumers.  Tickers of stock discussed: GSY.TO, BNS.TO, AFRM, INTC Check out our portfolio by going to Jointci.com Our Website Canadian Investor Podcast Network Twitter: @cdn_investing Simon's twitter: @Fiat_Iceberg Braden's twitter: @BradoCapital Dan's Twitter: @stocktrades_ca Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! Apple Podcast - The Canadian Real Estate Investor  Spotify - The Canadian Real Estate Investor  Web player - The Canadian Real Estate Investor Sign up for Finchat.io for free to get easy access to global stock coverage and powerful AI investing tools. Register for EQ Bank, the seamless digital banking experience with better rates and no nonsense.See omnystudio.com/listener for privacy information.

Shoot us a Text.We're rooting for a great end to the month as we enter Thanksgiving week. Today, we're talking about how Hyundai and Amazon's online retail platform could enter its next phase in January, how Wall Street investors are still bullish on auto loans and how this week signals a new level of danger for drivers.Show Notes with links:Thank Dan Shine for having us on Fridays Daily Drive PodcastHyundai's online retail platform with Amazon faced setbacks from the CDK cyberattack but is now on track for a January pilot phase launch. Despite technological and operational hurdles, dealers are increasingly optimistic about the program's potential.Over 80% of Hyundai's 841 dealers expressed interest in the platform, signaling strong support.Hyundai addressed dealer concerns, ensuring sales remain tied to the dealership, not Amazon.The CDK outage disrupted over half of Hyundai's dealer network, delaying progress.Other challenges include trade-in valuation and flexible financing options.Hyundai CEO Jose Munoz said that “Customers want to go to the dealer to get the car themselves. That's one of the reasons why a lot of dealers have seen this not as a competition, but as something that reinforces their sales.”Investors are doubling down on auto loans, even as rising delinquencies signal financial stress for consumers. Wall Street remains bullish, betting on a strong economy to balance the risks.Subprime auto bonds sales surged to $40B in 2023, up 17% from last year.Investor demand is immense; some bond deals are oversubscribed by 20x.Auto bond yields have tripled since 2021, with low-grade bonds offering 6%.Delinquencies, now at 3.8%, are the highest since 2010, affecting low-income borrowers most.Analysts argue that car payments are prioritized; “You can live in your car, but you can't drive your house,” says Daniel Liesener.Thanksgiving week sees a sharp rise in distracted driving, making it one of the riskiest travel periods of the year. Peak travel times amplify those dangers with increased phone use and speeding.Thanksgiving Day distraction rates soar 18% higher than a typical Thursday.Speeding doubles during Thanksgiving week, contributing to additional crashes.The Wednesday before Thanksgiving sees distraction up 7%, peaking on the holiday itself.Distraction is highest from 9:00 a.m. to 1:00 p.m. on Thanksgiving Day, dropping during typical dinner hours.“Early morning travel offers safer conditions,” highlights the report, urging caution.Hosts: Paul J Daly and Kyle MountsierGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email

What do numerous over-hyped product launches, massively subsidized compute, over extended investment, lack of customer adoption, unwillingness to pay extra, enormous and increasing costs, and total dependence on a few massive players have in common? The big tech Ai industry! Today we dive into a fantastic breakdown of the state of the ai market, and the potentially dismal financial forecast for the poster child of Ai success, OpenAi. Is there really a massive market here that supports 100 billion dollar investments ongoing? Or is it all smoke and mirrors with a very uncertain future. Check out the original article by Edward Zitron at wheresyoured.at (Link: https://www.wheresyoured.at/subprimeai/) Host Links ⁠Guy on Nostr ⁠(Link: http://tinyurl.com/2xc96ney) ⁠Guy on X ⁠(Link: https://twitter.com/theguyswann) Guy on Instagram (Link: https://www.instagram.com/theguyswann) Guy on TikTok (Link: https://www.tiktok.com/@theguyswann) Guy on YouTube (Link: https://www.youtube.com/@theguyswann) ⁠Bitcoin Audible on X⁠ (Link: https://twitter.com/BitcoinAudible) The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839)

High rates and rising consumer debt levels still drive a worsening auto loan landscape.  Delinquencies and losses rose across prime and nonprime securitized auto loans in Kroll Bond Rating Agency's August auto loan asset-backed securitization index published Sept. 23. Prime recovery rates increased while nonprime recoveries declined.  CarMax Auto Finance (CAF) also increased its provision for credit losses by 25.4% to $112.6 million for the fiscal second quarter of 2025, ended Aug. 31, according to the company's earnings release. CAF's finance income fell 14.4% year over year to $115.6 million, while originations ticked down 1.7% YoY to $2.2 billion.  Meanwhile, multiple auto lenders are preparing for growth in the coming year. Affinity Federal Credit Union is looking to add to its dealership base in New York, New Jersey and Pennsylvania as it steps back into leasing after a three-year hiatus.  SameDay Auto Finance is planning to double its portfolio to about $60 million within the next two years after expanding into Oklahoma and prioritizing top-performing dealerships.  Auto Finance News is also pleased to highlight nine powersports finance executives to watch in 2025 following a turbulent first half of 2024, but with optimism heading into the 2025 season.  In this episode of the “Weekly Wrap” Auto Finance News Editor Amanda Harris and Associate Editors James Van Bramer and Ashley Savage discuss growth and performance trends for the week ending Sept. 27. 

Ranjan Roy from Margins is back for our weekly discussion of the latest tech news. We cover 1) The 'subprime' AI crisis 2) Will companies building on AI persist if prices increase? 3) OpenAI funding news update 4) Do the research houses not care about the business side, and only want AGI? 5) iPhone16 releases to mild enthusiasm 6) Huawei's trifold phone is a hot seller 7) Mr. Beast's leaked guide to excellence at his production company 8) Amazon's culture has problems, says CEO Andy Jassy --- Enjoying Big Technology Podcast? Please rate us five stars ⭐⭐⭐⭐⭐ in your podcast app of choice. For weekly updates on the show, sign up for the pod newsletter on LinkedIn: https://www.linkedin.com/newsletters/6901970121829801984/ Want a discount for Big Technology on Substack? Here's 40% off for the first year: https://tinyurl.com/bigtechnology Questions? Feedback? Write to: bigtechnologypodcast@gmail.com

A crushing economic crisis, caused by the subprime mortgage meltdown, and two failing wars were the backdrop for the election of 2008. At the onset of the year, a first-term Democratic senator from Illinois, Barack Obama, was a long shot taking on Hillary Clinton, the New York senator and former first lady with universal name recognition. On the Republican side, Arizona Senator John McCain emerged from a crowded primary field to choose little known Alaska Governor Sarah Palin, whose inane manner became the butt of late-night jokes, as his running mate. The outcome made history as Obama became the first Black president. In this episode, historian Jeremi Suri takes us back into the recent past to examine an election that seems more distant than it actually is, thanks to the earthquake that followed 8 years later.

In this episode, we dive into the Bank of Canada's recent 25bps rate cut and its implications for the Canadian economy. With inflationary pressures persisting in shelter costs, we discuss whether the central bank's decision could reignite the housing market while balancing economic slowdown. We also analyze Couche-Tard's ambitious bid to acquire 7/11, their Q1 earnings, and the potential risks of such a massive acquisition. Finally, we cover BRP's disappointing earnings and the rise of subprime lending, examining how companies like Affirm Holdings and Propel Holdings are faring in an economy where more consumers are struggling to make ends meet.   Tickers of Stocks & ETF discussed: PRL.TO, AFRM, BRP.TO, GSY.TO, ATD.TO NY Fed BNPL Survey Check out our portfolio by going to Jointci.com Our Website Canadian Investor Podcast Network Twitter: @cdn_investing Simon's twitter: @Fiat_Iceberg Braden's twitter: @BradoCapital Dan's Twitter: @stocktrades_ca Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! Apple Podcast - The Canadian Real Estate Investor  Spotify - The Canadian Real Estate Investor  Web player - The Canadian Real Estate Investor Sign up for Finchat.io for free to get easy access to global stock coverage and powerful AI investing tools. Register for EQ Bank, the seamless digital banking experience with better rates and no nonsense.See omnystudio.com/listener for privacy information.

Welcome to the Complexity Premia podcast from Coolabah Capital, which is hosted by Christopher Joye, CIO and portfolio manager at Coolabah Capital. The Complexity Premia podcast strives to deconstruct modern investment problems for wholesale (not retail) participants in capital markets. You can listen on your favourite podcast app, or you can find it on Spotify, Podbean or Apple Podcasts. In this new flash episode of the Complexity Premia podcast, Chris and Ying Yi discuss a range of important developments, including the great private vs public credit debate between Chris and Andrew Lockhart of Metrics (watch the video here so you can judge who won) and APRA's controversial proposal to kill off the Aussie bank hybrid market, amongst other things. This information is suitable for wholesale investors only and has been produced by Coolabah Capital Institutional Investments Pty Ltd ACN 605806059, which holds Australian Financial Services Licence No. 482238 (CCII). The views expressed in this recording represent the personal opinions of the speakers and do not represent the view of any other party. The information does not take into account the particular investment objectives or financial situation of any potential listener. It does not constitute, and should not be relied on as, financial or investment advice or recommendations (expressed or implied) and it should not be used as an invitation to take up any investments or investment services. Whilst we believe that the information discussed in the podcast is correct, no warranty or representation is given to this effect, and listeners should not rely on this information when making any decisions. No responsibility can be accepted by CCII to any end users for any action taken on the basis of this information. Any performance data presented on this site is pre-fees for institutional clients that negotiate custom fee rates, and these solutions are not available to retail investors. No investment decision or activity should be undertaken without first seeking qualified and professional advice. CCII may have a financial interest in any assets discussed during the podcast. Listeners in Australia are encouraged to visit ASIC's MoneySmart website to obtain information regarding financial advice and investments.

Curious about how to build a fintech business that champions financial inclusivity? Join us for a captivating conversation with Pat Napoli from Appressa, where we explore his remarkable journey from New Jersey to making waves in the payments industry. Pat shares how Appressa supports consumers who've been declined by prime banks, helping them secure credit cards through near prime and subprime banks. Discover how Appressa's innovative technology, paired with their strategic partnership with Prove, works to rehabilitate credit scores for millions of Americans, making a significant impact on the issue of credit card declines.Get inspired by Pat's deep commitment to community service and his passion for inner-city education, exemplified by his involvement with St. Benedict's Prep in Newark, NJ. Together with his partner, Chris Mettler, Pat draws on experiences from MBNA and other renowned financial institutions to create a tech-driven solution for those with non-prime credit scores. As we wrap up, Pat offers invaluable advice for aspiring fintech professionals, underscoring the growing importance of data science in the rapidly evolving payments landscape. Don't miss this insightful episode, packed with trends, strategies, and personal stories.

Subprime lenders are weighing the risks and benefits of protecting assets through force-placed insurance as credit-challenged borrowers face continued affordability issues, while some lenders tap into “buy here, pay here” opportunities, in this episode of the Weekly Wrap. 

On today's episode, we sit down with Sol Lax, the CEO of Revenued, to dive into the intricacies of small business lending. Lax shares his journey from managing Merchant Cash Advances (MCA) to leading Revenued, a company focused on providing financial solutions for small businesses, particularly those with subprime FICO scores. With a background rich in financial innovation and a keen understanding of small business needs, Lax offers insights into the challenges and opportunities in the subprime lending space. “Merchant Cash Advances (MCA) were a necessary but imperfect tool for small businesses,” Lax explains. “We saw an opportunity to create a more flexible and tailored financial product.” The Big Ideas Lax emphasizes the need for flexible financial products. “MCAs are too rigid,” he says. “Our Flex Line offers more controllable, predictable, and available capital.” The PPP era was instrumental in refining Revenued's operations. “Processing a million PPP loans taught us anti-fraud and scaling,” Lax recounts. Revenued is harnessing the power of data to provide actionable insights that help in decision making. “We can show small businesses how much they're spending on bank fees and help them find better options,” Lax explains. Lax acknowledges the difficulties in subprime lending but sees opportunities. “Subprime small businesses find it challenging to access credit,” he notes. “With a different credit perspective, we can make it happen for them.” Revenued is looking to expand its offerings through strategic partnerships. “We're partnering with companies to provide business insurance quotes and other services based on our data,” says Lax. Through the tumultuous times of the Paycheck Protection Program (PPP), Revenued pivoted and leveraged its platform to process over a million PPP loans. This experience honed their skills in anti-fraud measures and scaling operations, setting the stage for their current offerings. It's a candid conversation that you won't want to miss! Sol Lax is my guest today on the Tearsheet Podcast.

Shoot us a Text.As another week comes to a close, we're grateful for the auto industry. Today we're covering how inflation is affecting repos, how demand is affecting Ford's production plans and how iPhones and Androids might finally get along.Show Notes with linksAuto repossessions are up 23% in the first half of 2024, surpassing pre-pandemic levels and indicating financial stress among consumers as interest rates and inflation strain household budgets.Vehicle seizures decreased during the pandemic due to leniency and stimulus checks, but have now surged back, with repos increasing 14% compared to 2019.Subprime auto borrowers are struggling, with 5.62% at least 60 days late on payments in June.Average interest rates: 7.3% for new cars, 11.5% for used cars; monthly payments average $739 for new and $549 for used, according to EdmundsRelief might come later this year, with some anticipating the Fed lowering interest rates in September, allowing the opportunity for refinancing and new buyers.Jeremy Robb, senior director of economic and industry insights at Cox Automotive summed it up: “I think a lot of consumers are really waiting to see if interest rates come down a little. That's kept a lot of people on the sidelines.” Ford Motor Company again has slowed down its EV plans, repurposing its Canadian Oakville Assembly plant to build larger gasoline-powered F-Series trucks, delaying the launch of three-row electric SUVs.The Oakville facility will now add capacity for 100,000 F-Series Super Duty trucks.“Super Duty is a vital tool for businesses and people around the world, and, even with our Kentucky Truck Plant and Ohio Assembly Plant running flat out, we can't meet the demand,” said Ford CEO Jim Farley.Ford lost nearly $4.7 billion on its EV business in 2023, with projected losses up to $5.5 billion this year.The company plans to invest about $3 billion to expand Super Duty production, securing 1,800 jobs at Oakville and adding about 220 jobs at engine and component plants.Apple's iOS 18 finally brings RCS support to iPhones, significantly improving messaging between iPhone and Android users. Photos are now high-resolution, ending the era of blurry, tiny images.iOS 18, currently in Beta but available on iPhone, includes homescreen customization, Siri improvements, and revamped Photos app.Apple added RCS (Rich Communication Services) support as a minor feature,  this comes after years of Apple refusing to bow to pressure to adopt the messaging standard.RCS improves messaging with features like typing indicators, read receipts, and high-res media.The green bubble persists with Android users, and Apple's RCS implementation lacks encryption.Hosts: Paul J Daly and Kyle MountsierGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email

In this episode, Rory speaks with Shannon Hay, SVP at United Midwest Savings Bank, to talk about accounting firm financing and acquisitions. Discover the opportunities and challenges for firm sellers and buyers and how private equity is reshaping the profession. Learn how the talent shortage and rising interest rates are impacting the M&A market. Shannon also shares insights on succession planning, the advantages of internal buyouts, and how firms can prepare for a successful sale. Are we on the brink of a consolidation bubble in the accounting sector similar to the Sub Prime mortgage crisis? Do you want to know how to leverage SBA financing to acquire a business? Find the answers to these questions and more in this episode with Shannon Hay.

Higher costs for everyday expenses such as gas, groceries and vehicle insurance have prompted many consumers to turn to credit cards, with rising expenses making it harder for consumers buried in debt to qualify for auto loans.

Today on the Daily News You Can Use, Ray and Zach discuss the latest data on auto loan delinquencies from the NY Fed. Subprime lending is a mess. Tune in to learn more!

Both of the boys are in studio this week, and thank god, it's a big ol' show. Donald Trump gets bailed out of his bail-bond by a billionaire who made his bones on sub-prime car loans. Because of course he is. Then, the Right is reacting in a totally normal and not-at-all weird way to the solar eclipse, AI is here to save fast-food, retired Supreme Court Justice Stephen Breyer chimes in with an ode to going to the opera with his best friends - the Justices who want to destroy democracy. To hear the full episode and support The Muckrake Podcast, become a patron at Patreon.com/muckrakepodcast. You'll get an extra show every week, get to hang out during live shows, and get all the exclusive election shows and analysis. Learn more about your ad choices. Visit megaphone.fm/adchoices

This Day in Legal History: Libya Surrenders NationalsOn April 5, 1999, a pivotal moment in the annals of international law and aviation security unfolded as the Libyan government surrendered two of its nationals, Abdelbaset Ali Mohmed Al Megrahi and Al Amin Khalifa Fhimah, to British authorities. These individuals were implicated in one of the most devastating acts of terrorism in history—the bombing of Pan Am Flight 103 over Lockerbie, Scotland, on December 21, 1988. This tragedy not only claimed the lives of 270 people, including 11 on the ground but also marked a profound moment of grief and outrage across the globe.The surrender of the accused to the British government was a culmination of years of diplomatic negotiations and international sanctions against Libya, reflecting the persistent efforts of the victims' families and international community to seek justice. The trial, which began on May 3, 2000, at a special court in the Netherlands, was notable for being held under Scottish law—a unique legal arrangement that underscored the international dimensions of the case.The court proceedings were meticulous and exhaustive, drawing upon a wealth of evidence that included forensic analysis, witness testimonies, and the intricate tracing of the bomb's components. After extensive deliberations, the verdict was pronounced: Al Amin Khalifa Fhimah was acquitted and returned to Libya, a decision that stirred a mix of reactions worldwide. Conversely, Abdelbaset Ali Mohmed Al Megrahi was found guilty of murder and sentenced to life imprisonment, a conviction that would later be mired in controversy and calls for re-examination.Megrahi's conviction did not close the chapter on the Lockerbie bombing; it instead opened further debate and investigation, including questions about the evidence, the legitimacy of the trial, and the role of other potential co-conspirators. His release in 2009 on compassionate grounds, due to terminal cancer, sparked further international debate and diplomatic tensions.This day in legal history underscores the complexities of achieving justice in the wake of terrorism, the challenges of international cooperation in legal matters, and the enduring impact of the Lockerbie bombing on the fields of aviation security and international law.The Fifth Circuit Court of Appeals is at the center of controversies involving attempts to move high-profile cases out of its jurisdiction, potentially preventing the court from ruling on matters of national importance. This situation arises as questions are raised about the appropriateness of filing certain legal challenges, particularly against government actions, in Texas courts. The ongoing scrutiny aims to determine if these cases genuinely belong in the jurisdictions where they were filed, amidst concerns over "judge shopping"—the practice of selecting courts thought to be favorable to the case.The Fifth Circuit is deliberating on whether to block lower court decisions that would transfer cases involving the Consumer Financial Protection Bureau (CFPB) and Elon Musk's SpaceX to other federal courts. These moves are challenged under the premise that they could dilute the Fifth Circuit's ability to influence significant legal questions. Transfers are finalized once a case is docketed in the new jurisdiction, which then assumes authority, complicating any attempts to revert the transfer unless the new presiding judge consents.Appeals to prevent these transfers hinge on the high threshold for a writ of mandamus, a rare form of relief requiring clear evidence of a lower court's abuse of discretion. The scrutiny extends to the public perception of the Fifth Circuit's motivations, with some experts warning that aggressive efforts to retain cases could reflect poorly on the judiciary's impartiality.Historically, the Fifth Circuit has encountered issues with jurisdiction after cases were moved, as seen in a dispute involving a "ghost gun" company, highlighting the practical consequences of losing authority over transferred cases. The court's involvement in the SpaceX case, including a rare inquiry into the conduct of NLRB lawyers, further underscores the tension between maintaining jurisdiction and adhering to procedural norms.Judicial decisions on venue transfers, such as the recent ruling to move a lawsuit from Texas to Washington, D.C., reflect broader concerns about judge shopping and the integrity of case assignments. This ongoing saga emphasizes the complex interplay between legal strategy, jurisdictional authority, and the quest for a fair and appropriate venue for high-stakes litigation.Fifth Circuit Risks Losing Big Cases Amid Judge Shopping WorriesTerraform Labs and its co-founder Do Kwon are set to present their final arguments in a civil fraud trial, responding to charges from the U.S. Securities and Exchange Commission (SEC) that they deceived investors about the stability of their stablecoin, TerraUSD, and its underlying technology. The SEC's allegations include false claims about Terraform's blockchain being utilized in a popular Korean payment app, aiming to secure civil penalties and industry bans for Kwon and Terraform. Despite Kwon's absence from the trial due to his arrest in Montenegro on separate charges, Terraform's defense contends that the SEC's case relies on out-of-context statements and incentivized whistleblowers. The collapse of TerraUSD in May 2022, which the SEC attributes to manipulated market actions by Kwon and his company, resulted in a $40 billion investor loss and significant disruptions in the broader cryptocurrency market.Terraform Labs to make final pitch to jury as civil fraud trial wraps | ReutersA New York judge has scheduled a hearing for April 22 to scrutinize the $175 million bond posted by former U.S. President Donald Trump. This bond was a condition for pausing a $454 million fraud judgment against him while he appeals the decision. The New York Attorney General, Letitia James, raised questions about the sufficiency of the assets of Knight Specialty Insurance Company—the firm Trump used for the bond—prompting the need for proof that it can cover the bond if Trump's appeal fails. Trump's bond was facilitated by the insurance company owned by Don Hankey, a California businessman known for his dealings in subprime car loans. Faced with a "practical impossibility" of raising the full amount initially required for the bond, Trump's team secured Knight Specialty's services after an appeals court provided a lifeline by granting an extension and reducing the bond amount. Hankey, dubbed "the king of subprime car loans," has a reputation for lending to individuals with poor credit at high rates and aggressive debt collection practices. Despite his wealth, evidenced by his ranking on Forbes's lists, and his history of significant Republican donations and financial dealings with Trump-related properties through Axos Bank, concerns about the sufficiency of assets stem from the specialized, high-risk nature of his business ventures. Knight Specialty's involvement, driven by a blend of business decision-making and political support for Trump, underscores the complexities and potential risks of securing such a substantial bond, especially given the magnitude of Trump's legal and financial challenges.This development adds another layer to Trump's legal challenges, which include efforts to dismiss criminal charges in Georgia related to the 2020 election and classified records handling, as well as a New York criminal trial on hush money payments set to begin a week before the bond hearing. Trump, who faces four indictments amidst his presidential campaign, has pleaded not guilty in all criminal cases.The fraud judgment by Judge Arthur Engoron in February, which Trump is appealing, found him liable for significantly overstating his assets' value. Trump's legal team has dismissed concerns over the bond as baseless, while representatives from Knight Specialty Insurance have not commented on the matter. According to a court filing, Knight claims to have $539 million in assets, including $26.8 million in cash, as it faces scrutiny over its ability to support Trump's bond amidst his multifaceted legal battles.Trump's $175 million bond questioned by New York AG, hearing scheduled | ReutersNew York AG Questions if $175 Million Bond Insurer Can Save TrumpThat Guy Who Backed Trump's Bond? He May Not Have the MoneyHow did Trump pay his $175m fraud bond – and who helped him?This week's closing theme is by Robert Schumann.Robert Schumann stands as one of the quintessential figures in the Romantic era of classical music, renowned for his richly expressive compositions that spanned piano, chamber music, lieder (those are art songs), and orchestral works. Born in Zwickau, Saxony, in 1810, Schumann initially intended to pursue a career in law, following the wishes of his family–but we're all glad he didn't. His deep passion for music, coupled with a hand injury that thwarted his ambitions of becoming a virtuoso pianist, led him down the path of composition and music criticism. Schumann's compositions are celebrated for their emotional depth, innovative harmonies, and poetic inspirations, reflecting the complex inner world of an artist who struggled with mental health issues throughout his life.In 1841, a year marked by newfound confidence and creativity for Schumann, he composed his Symphony No. 1 in B-flat major, Op. 38, commonly known as the "Spring" Symphony. Inspired by the poem "Spring" by Adolf Böttger, the symphony bursts with the freshness, vitality, and optimism of the season. The work was Schumann's bold entry into the world of symphonic music, encouraged by his wife, the eminent pianist and composer Clara Wieck Schumann. It was completed in just four days in January, a testament to Schumann's intense creative fervor during this period.The "Spring" Symphony premiered on March 31, 1841, in Leipzig, conducted by Felix Mendelssohn, a close friend and champion of Schumann's music. The reception was overwhelmingly positive, with the symphony hailed as a vibrant and joyful ode to spring. Its success established Schumann's reputation as a master of the symphonic form, a remarkable feat for someone who had previously been known primarily for his piano works and songs.The opening movement, "Andante un poco maestoso – Allegro molto vivace," immediately sets the tone of awakening and renewal. It begins with a slow, majestic introduction that evokes the first stirrings of spring, before launching into the lively and exuberant main Allegro section. This movement is characterized by its rhythmic vitality and melodic inventiveness, featuring a recurring fanfare motif that Schumann described as the "call of awakening" for spring. The energy and optimism of the Allegro perfectly capture the essence of the season, making it a fitting introduction to a symphony that remains one of Schumann's most beloved works.Schumann's Symphony No. 1, with its vivid depiction of spring's arrival and rejuvenation, not only solidified his place among the great symphonists of the Romantic era but also offered a deeply personal reflection of the composer's own sense of renewal and hope. Through the "Spring" Symphony, and particularly its spirited Allegro, Schumann invites listeners to share in the joy and boundless possibilities of the season, making it a timeless piece that continues to enchant and inspire.Without further ado, Robert Schumann's Symphony no. 1 in B flat 'Spring', Op. 38, the fourth movement, the allegro. Get full access to Minimum Competence - Daily Legal News Podcast at www.minimumcomp.com/subscribe

Billionaire Don Hankey of Knight Specialty Insurance posted Donald Trump's bond of $175 million dollars. Hankey made his money as a sub prime auto lender. He claims that Donald Trump put up cash as collateral. Which is interesting. Where did he get the money? --- Send in a voice message: https://podcasters.spotify.com/pod/show/rational-boomer/message Support this podcast: https://podcasters.spotify.com/pod/show/rational-boomer/support

Today for my podcast, I read Subprime gadgets, originally published in my Pluralistic blog: I recorded this on a day when I was home between book-tour stops (I’m out with my new techno crime-thriller, The Bezzle). Catch me on April 11 in Boston with Randall Munroe, on April 12th in Providence, Rhode Island, then onto... more

New 'Sode of GlitterLedger with Steven Eisman  Alexis: Is there anything that you find appealing?Steven: About crypto?Alexis: YeahSteven: Nothing Alexis ZeroSteven: ZeroAlexis: Even the art?Steven: Nothing :D Fresh off of Eth Aspy and still High off of the altitude, and my own grandiose delusions, I have time to reflect on the groundbreaking takeaways of said conference. I have none. Well except to sell my SOL gains for Loubs and mix Lithium and Glitter in a blender From Duane Reade.  My conference was spent on a quest for the next billionaire knee deep in an algorithmic pegged to the yen Ponzi scheme based in a tax haven country with decent restaurants.  I am the most shameless fame seeker of my generation and would eat glass for the chance be instagrammed with a Household name, whether you created Optimism or Waitressed on Vanderpump Rules, or shorted sub prime mortgages; As long as you can fund the lifestyle to which I am accustomed I will love you endlessly.  Which brings me to my guest Steven Eisman, an unsung Hero of our time, best known for Steve Carell's portrayal of him in The Big Short. The creation of Bitcoin is owed to the genius of Steven Eisman. Had he not predicted the mortgage collapse spurring the Financial crisis, nothing would have incentivized Craig Wright to write a White paper.   Steven and I first met on the set of the Big Short many years ago when I auditioned to play the role that ultimately went to Ryan Gosling. But I stayed on to help with Craft Services and organized the first cast after party at a college bar in New Orleans. Steven has had a fascinating existence and has had a tremendously successful career. His claim to fame beyond his full head of hair is for shorting collateralized debt obligations, and I'm working on a rap song to further educate. Cardi B you know where I'm at  Steven drops some advice on my crypto burgeoning hedgefund called Veni Vidi Vici Off Chain and I'm raising at a 10 billion dollar valuation FDV TVL LTP Safe 1:1 with a soft soft bank commitment. It's a long, short very biased Staked Liquid ETH Strategy light on Stacks and Dogwif hats,)  And then he provides great (not) financial career advice, behind the scenes E True Hollywood takes on the film, and industries outside of digital assets that one could pay attention to if one can drag oneself away from DeFi meme pools.  Steven's pedigree is a Jewish Girl's Hinge dream what with his Harvard degree coupled with his employment as MD PM for Neuberger Berman's Private Asset Management Divisj.   Beyond blockchain's goal of creating an underpinning of a new financial infrastructure, it is that girls in crypto end up a with a man like this. There is an ordinal written in the Genesis Block after the Brink of Collapse that spells this out. Steven's other wisdom besides “ Incentives trump ethics every time, ” is that he does not own any crypto but he has also been wrong. He has also been very right. #GlitterLedger

Con el pretexto de atender la recesión que se vivió de 2008 a 2010 por la crisis de los créditos subprime, Felipe Calderón destinó miles de millones del erario nacional al rescate de los más ricos, tal como lo hizo en 1998 cuando respaldó el Fobaproa del priísta Ernesto Zedillo

In this episode, we contrast corporate optimism against a backdrop of enduring inflation, address the financial pressures facing low-income consumers and the distress signals from rising subprime delinquencies, and examine the unexpected challenges in the mass-market adoption of EVs.00:00:00 Introduction00:00:10 Prevailing Optimism00:01:50 Low-Income Consumer Strains00:03:54 EV Market Dynamics00:04:56 Automaker Bets and Brand Loyalt00:07:01 Hybrids Gaining Ground00:07:54 Conclusion

In this episode, I'm speaking with Tim Lawrence, CEO of LHPH Capital This episode is brought to you by: CDK Global - Empowering dealers with the tools and technology to build deeper customer relationships. Learn more @ https://www.cdkglobal.com/dealership-xperience-platform AutoFi - AutoFi's powerful platform helps dealers sell smarter, not harder—online and in the showroom. Learn more at autofi.com/cdg Interested in advertising with CarDealershipGuy? Drop us a line here Interested in being considered as a guest on the podcast? Add your name here Topics: (00:00:00) - Intro (00:02:24) - Tim's previous life as a marriage and family counselor (00:07:11) - What is Lease Here Pay Here? (00:08:56) - How is this different from Buy Here Pay Here? (00:11:01) - How does this model impact dealers and consumers? (00:12:51) - How do you and the dealer make money? (00:15:32) - What are you seeing from consumers right now? (00:16:56) - Thoughts on EVs (00:19:13) - How do you break into a new market? (00:21:02) - Who else is doing this model? (00:21:53) - What's the IRR for a dealer on one of these loans? (00:23:07) - Who's accountable for service in this model? (00:24:13) - Are we headed to a world where most people will not own their vehicles? (00:29:01) - How are you being impacted by interest rates? (00:31:31) - Will used car leasing ever go mainstream? Check out LHPH here. Check out the website for more (https://dealershipguy.com) and follow me on X @GuyDealership! (https://x.com/guydealership) This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Time for a Friday Flight- our little sampling of the week's financial news and what it means for your personal finances. There are a lot of headlines out there, but we boil them down to specific takeaways that will allow you to kick off the weekend informed and help you to get ahead with your money. In this episode we explain some relevant and helpful stories like: the most affordable eyeglasses around, pressure to go paperless, learning from buyers remorse, the shopping social network, #dupe, BNPL for travel?, the rise of Apple Pay Later, 8 figures needed for financial freedom?, the subprime tax, a priceless privacy app, & holiday shopping stats.   Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: Knowing your ‘money gear' is a crucial part of your personal finance journey. Start here.  Sign up for the weekly HTM newsletter. It's fun, free, & practical. Join a thriving community of fellow money in the HTM Facebook group. Find the best credit card for you with our new credit card tool! Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.   And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you're not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money. Have an awesome weekend!   Best friends out!See omnystudio.com/listener for privacy information.

This episode is brought to you by: Cars Commerce - The platform to simplify everything about buying and selling cars. Learn more at carscommerce.inc Podium - The lead conversion platform for car dealerships. Get 10% of your plan by texting “CarDealershipGuy” to (833) 441-1166 or visit https://bit.ly/48UKr4x In this episode, I'm speaking with Bruce Miller, Owner of Miller Motors. Interested in advertising with CarDealershipGuy? Drop us a line here Interested in being considered as a guest on the podcast? Add your name here Topics: (00:00:00) - Intro (00:02:51) - Bruce's journey into automotive (00:06:17) Bruce's business today  (00:09:57) - Bruce's mentality in approaching business (00:12:41) - Opening up a dealership (00:27:41) - How Bruce runs his dealership (00:35:44) - Profits (00:36:56) - Marketing and tracking customers (00:39:21) - It takes 100 customers to sell 21 cars (00:41:29) - The main misconceptions about independent dealers (00:43:16) - The future of the independent dealer (00:46:42) - Learning about equity (00:50:44) - Final thoughts (00:53:06) - How to get in touch with Bruce Check out Miller Motors here. Get in touch with Bruce by calling him at (504) 615-9297 Check out the website for more (https://dealershipguy.com) and follow me on X @GuyDealership! (https://x.com/guydealership) This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

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Happy Tuesday to our automotive community as we unpack GM's financial turbulence amidst the UAW strikes. We also dive into the alarming rise in subprime car loan delinquencies as well as Chevron's big move in acquiring Hess Corp.GM has pulled back its 2023 profit and EV production projections. The ongoing UAW strikes are costing the automaker a hefty $200 million each week this October.GM's Q3 net income dropped by 7.3%, standing at $3.06 billion, though revenues rose by 5.4% to reach $44.1 billion.UAW strikes have cost GM $800 million combined for Q3 and Q4 thus far.Amidst the cautious market environment, GM is reevaluating its EV strategy, prioritizing profit margins over strict sales volume targets.GM is stepping away from its aim to produce 400,000 EVs from 2022 to mid-2024. The new primary focus is to reach 1 million EVs by the end of 2025.Subprime borrowers are increasingly defaulting on auto loans, marking the highest delinquency rates in nearly 30 years. Economic challenges, including interest rate hikes and an uncertain job market, have made newer loans more burdensome for many, signaling distress in consumer spending patterns.September's delinquency rate for subprime auto loans hit 6.11%, the highest since 1994, as per Fitch Ratings.Factors like higher car prices, elevated borrowing costs, and Federal Reserve's stance on rates contribute to the issue.Repo rates are on the rise, with Cox Automotive projecting 1.5 million vehicle seizures this year.Borrowers face high interest rates based on credit scores, with some rates reaching 21.38% for used cars.Economic pressures have also led to challenges in the job market, with many struggling to meet auto loan payments.US oil producer Hess Corp, originally founded by Leon Hess, has been acquired by Chevron Corp in a deal spearheaded by Leon's son, John Hess. The all-stock transaction values Hess at $171 per share. Post-acquisition, John Hess, the longstanding CEO of Hess Corp, is slated to join Chevron's board and has expressed intentions to retain the family's stake in the company.Hess Corp's inception traces back to Leon Hess's buying a secondhand truck during the depression and delivering fuel oil during the depression. The company's current sale to Chevron values the Hess family's stake at approximately $5 billion.Once the deal is closed, John Hess, Leon Hess's son, who has held the CEO position at Hess since 1995, is expected to join the Chevron Board John Hess, alongside family trusts and members, holds 29.2 million shares in Hess Corp.Dividends for Hess shareholders will see a jump from the current $1.75 to $6.50 a share next year.Hosts: Paul J Daly and Kyle MountsierGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email ASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

In today's episode, I speak to Rodney Williams, who's the co-founder, chairman, and president of SoLo Funds, which is a B-Corp-certified community finance platform that's now used by more than 1 million users. Members can borrow and lend money between themselves rather than go to traditional lenders, loan sharks, or banks.EPISODE HIGHLIGHTS[01:16] Rodney's personal background[03:18] What other alternatives exist[04:50] How does SoLo work?[07:25] When and how do your customers use SoLo[08:56] Difference between Credit score vs SoLo score[11:50] Fighting the step crisis[14:27] SoLo's plan for the future[16:15] SoLo's expansion to Nigeria[18:22] SoLo's approach to fundraising & growing revenue[19:53] Investors' feedback on the business[24:36] How did SoLo approach investors[27:53] How did Solo get to become[33:04] Undeniable product market fit[37:32] 10-year visionKEY LESSONS & QUOTES" You can't build wealth without growing it. " [12:12]"Subprime product, underserved communities, helping people that usually doesn't sound like a big business you'd want to invest in." [19:44]"Our goal to market strategy is done right and do good because if you can't buy users, you need users to really like what you do.” [21:46]“A challenge that has made this extremely difficult is that the same financial systemthat has created the market that we live in today has created so much discrimination.” [20:30]“The majority of the group who use this predatory product, tend to be women. Women are taking advantage of these products significantly more.” [26:30]“All of the impact investors who have turned down Solo, I think they're a joke.” [24:57]“As we made the consumer experience better, our growth rate accelerated and that's when I knew it was an undeniable product market fit.” (35:01)Never miss an episodeSupport the showSupport the show

On this podcast Buddy Beaman discusses how the timely assignment of a substitute servicer into the loan structure can help ensure that consistent and ethical business practices are followed in collecting borrower payments and administrating the overall loan process. 

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Americans with subprime credit experienced a surge in credit card delinquency rates in July. Analysts warn this could mean trouble for the US economy as the pause on student loan repayment ended September 1. 5) Proud Boys leader sentenced to 22 years in prison for Jan. 6 riot; 4) Biden nominates former Treasury Secretary Jack Lew ambassador to Israel, despite anti-Israel history; 3) COVID-exposed Biden maskless during Medal of Honor ceremony for 81-year-old Army veteran; 2) Subprime credit crash may be imminent; 1) Fish dropped by bird causes power outage in New Jersey. FOLLOW US! Twitter X: @SkyWatch_TV YouTube: @SkyWatchTVnow @SimplyHIS @FiveInTen Rumble: @SkyWatchTV Facebook: @SkyWatchTV @SimplyHIS @EdensEssentials Instagram: @SkyWatchTV @SimplyHisShow @EdensEssentialsUSA TikTok: @SkyWatchTV @SimplyHisShow @EdensEssentials SkyWatchTV.com | SkyWatchTVStore.com | EdensEssentials.com | WhisperingPoniesRanch.com

Ma'Hoh shows off her new greenhouse. Mameem seeks wisdom from past lives. Cugg contemplates if anyone has ever read the full Prime Directive. Thanks to Shayne Plunkett & Jesse Wright of Meadow Vista Media, who created this season's intro theme: www.meadowvistamedia.com Twitter: @MVM_Studio IG: @meadowvistamedia Buy our book, The Ultimate Random Encounters Book: bit.ly/RandomBook Find out more about the show at our website: www.vre.show Show pins and more: shop.vre.show Support us on Patreon: www.patreon.com/VRE Follow us @VRECast

Subprime lending is still out there, and the mainstream take on it is totally wrong. Instead of solving what causes borrowers to be subprime, the system simply bends the rules and allows those borrowers to get burdened with debt that are not equipped to manage. This leaves them very vulnerable to market shifts or other bumps in their financial road. In todays show, we chat about that but also revisit last weeks show. ChatGPT was used to write last weeks show and it was an experiment to demonstrate a point I made in a podcast a few weeks back. With todays reality, it is becoming easier for real estate agents and others to seem far more informed and proficient than they actually are. So we discuss that and how to protect yourself from making a bad choice. —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/  

Welcome to Thursday, racers. Today we're talking about the challenges around current subprime lending, Toyota's big sales bump, and a giant commuter drone that is one step away from reality. Show Notes with links:According to Experian, Dealerships are finding it harder to secure subprime auto loans due to a decline in subprime customers obtaining auto loans and leases as factors like inflation, rising gas prices, and ending stimulus funds have affected consumers' creditworthiness and increased debt-to-income ratios, with many turning to credit cards for financial support.The proportion of subprime used-vehicle loans has reached near-record lows, with such borrowers only involved in 14% of loans and leases on new and used vehicles in Q1 2023.The increase in late auto loan payments among subprime borrowers is higher than during the late 2000s recession, according to an S&P Global Mobility analysis of TransUnion data."What we're seeing now is some of the lowest FICO scores ... we've seen in years. Consumers who might have qualified for loans in the past are "not even close," said Michael Opdahl, COO for Automotive Credit CorpToyota's global sales saw a significant increase in May as both parts and supply shortages seem to be letting up. The company reported a 10% global sales increase in May 2023, selling a total of 838,478 vehicles attributing the increase to an improved supply of chips and other partsIn Japan, sales surged by 35.1% to 116,954 units.Global sales of hybrid cars grew by 25.8% year-on-year, reaching 261,147 units, almost one third of total vehicles sold last month. The company sold 9,923 battery electric vehicles worldwide in May, making the five-month total in 2023 reach 35,980 units.California based, Joby Aviation has received approval from the FAA to begin flight testing its electric air taxi prototype, moving closer to commercial operations, targeted for 2025. The company's business model is akin to a rideshare app. It's set to compete in a growing market of electric vertical takeoff and landing (eVTOL) aircraft manufacturers.Tetsuo Ogawa, the CEO of Toyota North America, will join Joby Aviation's board. Toyota is the company's largest external shareholder, with an investment of around $400 millionThe company is set to begin passenger operations in 2025As part of a $131 million contract with the U.S. Air Force, Joby will deliver its first two electric aircraft in March 2024 after initial testing at Edwards Air Force BaseShares jumped 26% on the newsGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email ASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

Welcome to the first day of Summer as we talk about the Tesla charging standard heating up in Texas. We also cover a new report on rising LTV ratios by TransUnion and JD Power, as well as a unique way of celebrating technicians coming out of Virginia. Tesla is racking up charging wins lately as more automakers as Texas becomes the first state to mandate that state-backed charging stations include Tesla's charging tech, Rivian adopts its standard, and Hyundai is considering using its North American Charging Standard as well. It's all tied to the money as the Tesla standard must be included as well as the more universal CCS standard if state dollars are involved. "The decision by Ford, GM, and now Rivian to adopt NACS changed requirements for Phase 1" of the rollout, the Texas Department of Transportation said in an email to Reuters on TuesdayFederal dollars don't currently have a requirement to include the Tesla standard in funded charging stations, but many states are offering bonus money if they doHyundai announced earlier this week that they are contemplating making its vehicles compatible with Tesla's North American Charging Standard, thereby considering joining the growing alliance of automakers using Tesla's charging technology as long as it is in the best interest of their customers. Tesla stock is up over 50% over the past 30 daysAs used vehicle values decline and interest rates are high, loan-to-value ratios are significantly on the rise, according to a recent study by TransUnion and J.D. Power released yesterday. Used car loan-to-value ratios have been increasing, averaging 125 in Q1 2023, compared to 110 in Q1 2022 and 104 two years earlier.The analysis suggests that borrowers with more vehicle equity are more likely to protect it by making payments, while those with fast depreciating vehicles are more likely to become delinquent.Subprime borrowers are 25% more likely to go 60+ days delinquent than their non-subprime cohortsTaking a page out of sports arena life, the Richmond Ford Auto Group (3 stores) in Virginia has started honoring their auto technicians like legends. Personalized banners, featuring techs' names, specialties, and accomplishments now hangover service bays. VP of Biz Dev, Kayla Kody said "In the technician world, they feel a little bit invisible because we celebrate sales all of the time,"This definitely showed them, 'We are paying attention to you. Yes, you are important. You drive our business.' "The banners list name, certification level, and how long they have been at the store, and also feature the techs personalized signatureGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email ASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

In this video, we're exploring the Vehicle Repos Rising Again As Subprime Loans Implode story. These repo vehicles are being used to take possession of auto loans that are in default. This is a sign of the financial crisis continuing to unfold.

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