Anna Maria Andriotis

speaker

3,396 appearances 52 recordings 1 series first heard Jul 2017 last heard Dec 2022

Anna Maria Andriotis’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Credit-Report Errors Grab Congress’s Attention · 1 Jun 2022 podcast

Great to be speaking with you. matched

Thank you. matched

WSJ Your Money Briefing · Why More Subprime Borrowers Are Defaulting on Their Loans · 19 May 2022 podcast

It's car loans and leases, it's personal loans, and it's credit cards. matched

All of these types of loans are seeing increases in late payments. matched

Great to be speaking with you. matched

It's several loans. matched

It's car loans and leases. matched

It's personal loans and it's credit cards. matched

All of these types of loans are seeing increases in late payments, specifically in the share of accounts that are matched

behind on payments by at least 60 days. matched

So in March, the share of subprime credit cards and personal loan delinquencies increased month over month for the eighth time in a row, nearing pre-pandemic levels. matched

On a year-over-year basis, we've seen five months of consecutive increases. matched

And so essentially what's playing out right now is we are coming off super low delinquency rates and missed payments are rising again. matched

There's been such wild swings in consumer credit, if you just really think about the things that have played out over the last couple of years. matched

So when the pandemic started, there was this massive concern, legitimately so, that consumers would fall behind on many of their loans and that delinquency rates would shoot up and matched

lenders basically tightened up and pulled back on extending credit, especially to people seeing that sort of being risky borrowers. matched

What ended up happening, instead of there being a surge in delinquencies early on in the pandemic, government benefits, including stimulus payments, child tax credit, matched

the pullback overall in consumer spending because they had fewer places to go. matched

All of this basically resulted in people being able to pay down many of their bills, to be on time with their payments. matched

What I've been told by lenders is that delinquencies were artificially low because households had this extra money coming in from the government. matched

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