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1、夕卜文题目：THREETRENDSARERESHAPINGAUTOFINANCE出处：ABABANKINGJOURNALFEB97作者：anonymous原文:THREETRENDSARERESHAPINGAUTOFINANCEInautomotivefinance,twoimportanttrendsappearwell-establishedandpoisedforfurtheradvancesin1997:Morenon-primeorsub-primelending.Moreleasing.At
2、hirdmovement,whichmayormaynotamounttoamajortrend,istheadventofused-carsuperstoresgearedtohigh-volumeselling.SUB-PRIME-NEARLYMAINSTREAMAwell-knowneconomistwhotracksautomobilesalespredictedatyear-endthatsome1.1millionhouseholdswillhavedeclaredbankruptcyin1
3、996•”That'snotailbad/hesaid.nItmeans1.1millionmoresubprimeborrowers.nPerhapshewasbeingfacetious,orperhapsnot-Thefactis,non・primeorsub-primeautolendingisnolongerlookeduponasanexpedienttoberesortedtoonlyinextremecases.Dependingonthedefinition,estimatesofth
4、ismarketplacerangebetween$70billionand$90billion,andclearlyitiscomingclosertothemainstreamasanalternativeborrowingtechniqueforasizableproportionofthepopulation.Thereasonsarebluntlydemographic:divorce,highmedicalexpenses,andcorporatedownsizingleadingtojob
5、lossesareamongtheprincipalfactorsthathavehurtthecreditstandingofhundredsofthousandsofpotentialborrowers.Someareforcedintobankruptcy,whileothersmanagetoavoiditbutseetheirhouseholdbudgetsseverelystrained.Figuresonconsumerloandelinquenciesarerunninghigh.Lar
6、genumbersofwould-beborrowersmaybebadlystretched,buttheystillneedpersonaltransportation,andwillgotoconsiderablelengthstoobtainfinancing.Thatmakesthemlogicalcandidatesforsub-primelending.Bydefinition,thesearehigher-riskborrowers,butitdoesnotautomaticallyfo
7、llowthattheyareallpoorcreditrisks.Manyareanxiousforachancetogetonasolidfootingandreestablishthemselvesasgoodcreditrisks.Lendersincreasinglyrecognizethis.Asonespecialistputit,nWelendtothosewhoneedasecondchance,notalastchance/Forlenders,thescreeningprocess
8、iscrucial.Banksandfinancecompanieshavelongexperiencewithcreditcardandotherconsumerlending,andinrecentyears,thetendencyhasbeentousecomputerizedcreditscoringtosegmentdifferentcategoriesofcreditrisk,thenassigndifferentratesan
