by Boo_Randy
More bankster tricks to get the sheeple deeper into debts they’ll never be able to repay.
Credit-score inflation throws a monkey wrench into the calculus of credit risk.
A miracle in American consumerism happened during the pandemic, the era of mortgage forbearance, student loan forbearance, and rent moratoriums, and free money sent to consumers via stimulus checks and PPP loans: credit score inflation.
Of the total number of auto loans and leases outstanding in Q2, the share of borrowers with “deep subprime” credit ratings (credit scores of 300-500 on Experian’s credit score scale) plunged from 4.3% in 2017 to a share of only 1.9%, according to Experian’s State of the Automotive Finance Market report for Q2 2022.
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