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 · Why More Subprime Borrowers Are Defaulting on Their Loans · 19 May 2022 podcast

And that money's gone right now. matched

Take that in addition to inflation and people are starting to make trade-offs. matched

You know, I don't have as much money to pay all my bills, especially when you factor in that gas prices and the cost of other goods and services have gone up. matched

And I need to make a decision. matched

You know, I need to, you know, for example, fill up my tank. matched

That costs more than it did. matched

And now I need to figure out what, like, I don't have enough money to pay my bills, which bill we're not going to pay this month. matched

What we're seeing here are the first cracks in consumers' ability to keep up with payments. matched

The riskier pool of people, right? matched

Why do people have low credit scores? matched

They have low credit scores, generally speaking, because they either have a very limited credit history or because they have missed payments or other negative information on their credit reports. matched

So we're seeing the sort of riskier, let's say, population experiencing problems paying their bills. matched

Some lenders have a broader concern, which is about whether we are about to get into an environment where people beyond subprime consumers are going to have difficulty keeping up with payments because of inflation. matched

That being sort of a key concern, especially if the economy starts to slow down. matched

So if the current trends continue with delinquencies, it is very possible that lenders could pull back and make it harder for subprime consumers to get access to credit or that costs could go up. matched

We're hearing some of that playing out already on the fringe, especially with rising costs. matched

When delinquencies go up, investors tend to get spooked. matched

And that because delinquencies are rising or there's some other areas of stress playing out, matched

with lenders that have more of exposure to subprime consumers, investors are essentially demanding more. matched

They're demanding more in yield on their end. matched

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