It may be many months before its impact is reflected in the delinquency picture.
More Quotes from James Chessen:
The full financial effect of Katrina is still unknown. It may be many months before its impact is reflected in the delinquency picture and will depend on the success of reconstruction efforts in those regions.James Chessen
With job growth strong over the last year and gas prices easing by year-end, the delinquency picture has brightened considerably.
James Chessen
Signs of financial stress still are present. The persistent interest rate increases by the Federal Reserve and record high gas prices in the third quarter provided a one-two punch that continued to inflict pain on personal budgets.
James Chessen
The industry is very sensitive to the fact that delinquencies have risen over the last two years. They have already taken steps to tighten underwriting standards -- to stop solicitations to risky customers.
James Chessen
The rise in auto and other consumer loan delinquencies reflects the avalanche of layoffs over the past year and a half. Until job growth gains upward momentum, relatively high levels of delinquencies will remain.
James Chessen
Gas prices don't look like they are coming down any time soon. Today, it costs 500 more than it did last year to operate a car. That's a whole lot of money.
James Chessen
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