Start of a New Trend? Pullback in Subprime Loans Observed
For the first time since 2012, originations to subprime consumers declined for a number of major credit products, according to TransUnion’s Q2 2017 Industry Insights Report. The report found that 4.63 million subprime consumers originated an auto loan or lease, personal loan or credit card in Q1 2017. Comparatively, 4.89 million subprime consumers originated one of these three products in Q1 2016.
Subprime Originations of Personal loans
Subprime Originations of Credit cards
*For auto loans, cards, and personal loans