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COF reported deliquency rates up +14 bp and larger than expected charge offs.

 

We hear that their car loan protfolio is bad shape but they didn't fess up on that. Thats why I was asking about income verification yesterday.

 

Wynd, Do you know if income verification is manadatory on auto loans or do they do FICO+ stated income?

Anyone with a FICO of over 675 is rubber stamped for 100% financing.

 

Stated income only on FICOs between 625 - 675.

 

Below 625, financing still easily obtained with pay stub, which are easy to fabricate, but rates are much higher for this tranche......

 

In a nutshell, if you are breathing, you can get car financing. Just a question of what rate the bank charges.

 

Mortgage and consumer finance are still in the "As Good As It Gets" stage.

 

Never been easier.

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13wk t-bill 1.65%

has never traded near 1.75% since the fed "raised rates" last

looks like a rounded top

 

lot of money betting 1.65% is worth being "safe"

 

wonder what "they" are worried about?

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