Not exact matches
Specifically, Defendants made false and / or misleading statements and / or failed to disclose that: (i) the Company was engaged in predatory
lending practices that saddled
subprime borrowers and / or those with poor or limited credit histories with high - interest rate debt that they could not repay; (ii) many of the Company's customers were using Qudian - provided loans to repay their existing loans, thereby inflating the Company's revenues and active borrower numbers and
increasing the likelihood of defaults; (iii) the Company was providing online loans to college students despite a governmental ban on the practice; (iv) the Company was engaged overly aggressive and improper collection practices; (v) the Company had understated the number of its non-performing loans in the Registration Statement and Prospectus; (vi) because of the Company's improper
lending, underwriting and collection practices it was subject to a heightened risk of adverse actions by Chinese regulators; (vii) the Company's largest sales platform and strategic partner, Alipay, and Ant Financial, could unilaterally cap the APR for loans provided by Qudian; (viii) the Company had failed to implement necessary safeguards to protect customer data; (ix) data for nearly one million Company customers had been leaked for sale to the black market, including names, addresses, phone numbers, loan information, accounts and, in some cases, passwords to CHIS, the state - backed higher - education qualification verification institution in China, subjecting the Company to undisclosed risks of penalties and financial and reputational harm; and (x) as a result of the foregoing, Qudian's public statements were materially false and misleading at all relevant times.
The
increased competition within the
subprime market has resulted in putting borrowers more in control of
lending process.
On the other hand, if the availability and attractiveness of mortgages declines, as did during the fallout from the
subprime lending crisis, renting an apartment becomes more appealing, so occupancy rates and rental revenue per apartment
increase.
Auto
lending volume to
subprime borrowers has
increased over the last few years.
However, these third - quarter figures show that while
subprime auto
lending appeared to be
increasing,
lending to other consumer groups has risen with it.
The collateralized debt obligation in particular enabled financial institutions to obtain investor funds to finance
subprime and other
lending, extending or
increasing the housing bubble and generating large fees.
With the falling U.S. home prices, tightening credit markets, and the general economic uncertainty caused by the
subprime lending fiasco, credit card issuers like American Express are facing declining consumer spending as well as the
increased likelihood that some customers will be unable to repay their balances.
Demand for private student loan asset - backed securities
increased not only co-signed, school - certified loans, but also
subprime - style
lending, where loans were often originated in excess of tuition and fees.
Although FHA was caught unawares by a tremendous
increase in its market share when
subprime lending went south, it has made important strides in monitoring mortgage lenders and enforcing FHA guidelines for underwriting mortgage loans.
In fact, the ratio of these
lending increased to 41 % in 2011 with banks spending almost 1.1 million for loans for
subprime borrowers.
«The consumer credit markets have been functioning extremely well the last few years, but an
increase in
subprime lending has begun to impact delinquency levels for some industries, specifically the auto finance and credit card markets,» said TransUnion's Nidhi Verma in a news release.
Yet, with homeownership already falling to 68.2 percent in the third quarter of 2007 from the historic high of 69.2 percent in the second quarter of 2004 and the tightening of mortgage loan credit in response to excesses of
subprime lending, it's unlikely that the homeownership rate will
increase in the near future.