A First-Hand Account Of What’s Really Happening In Subprime Auto

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

zerohedge.com / by Tyler Durden / 03/17/2016 21:41 -0400

“Originate-to-sell practices are not and have never been prevalent.”

That’s a quote from Citi’s Mary Kane who, in a note out in late January, sought to dispel the notion that subprime auto was the next “Big Short.”

While it may be true that ABS as a percentage of total auto loan origination has been range-bound between 15% and 30% for more than a decade, there’s almost no question that the ability to securitize certain loans is helping to fuel subprime auto.

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