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Best part
“This is going to end badly” for the industry, Dallas predicted”
Nice highlights, nsr. Wow, only 200 defaults to trip up a company; little margin for error.
I find it inexcuseable. It’s the sub-prime market and 1.65% of single years volume BK’d these guys.
What’s the typical default rate for sub-prime? About 1 in 8. At a FICO score of 700, it’s still 1 in 123.