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Q4 U.S. Economics and Credit Trends FAQ

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Q4 U.S. Economic and Credit Trends Outlook FAQ 1. Can you share the Debt Service ratios by the income groups? a. Over 85% of new cars are financed and just over half, roughly 50-55%, of used car purchases are financed. We can't distinguish in our data whether a loan or lease is direct or indirect. Captives exclusively do indirect lending. However, banks and credit unions, for example, often do both types. Other sources suggest that the majority of auto lending is indirect, possibly as many as three out of four financed vehicles. The Federal Reserve's Survey of Consumer Finance collects information on payment to income ratios broken out by income quintile. The data underlying the chart were retrieved from the Federal Reserve's website at: https://www.federalreserve.gov/econres/files/scf2016_tables _int ernal _nominal_historical. xlsx (see Table 17) 2. On the Tracking the Credit Cycle: First Mortgage chart - was that all mortgages or only purchase mortgages? a. The analysis included all first mortgages, both purchase and refinance. 3. What is the probability for different scenarios you showed for mortgage delinquency forecast? a. The scenarios presented represent points in a distribution of simulated economic outcomes. The Baseline scenario is the "most likely" scenario centered on the 50 th

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