Post Tagged with: "credit losses"

Harley-Davidson Financial Boosts Loss Provisions in 4Q

Harley-Davidson Financial Boosts Loss Provisions in 4Q

by February 17, 2017 at 10:00 am

Harley-Davidson Financial Services loan-loss provision shot up 119% year over year — to $39.8 million — in 2016, driven by higher retail credit losses. The decline came amid a 2.3% year-over-year decline in originations, to $3.1 billion. Losses — up 40 basis points to 1.8% in 4Q16 — continue to reach record highs unseenRead More

HDFS Originations Dip 2.3% in 2016

HDFS Originations Dip 2.3% in 2016

by January 31, 2017 at 11:30 am

Harley-Davidson Financial Services reported a 2.3% year-over-year decline — to $3.1 billion — in total origination volume for 2016 in its latest earnings report. However, loan originations ticked up in 4Q16 to $496.8 million — up 2.8% from the same time a year prior. The captive’s 2016 originations were comprised of 80%Read More

ThunderRoad Alters Slingshot Underwriting Amid Rising Losses

ThunderRoad Alters Slingshot Underwriting Amid Rising Losses

by December 7, 2016 at 12:30 pm

ThunderRoad Financial is taking a more “conservative” approach to financing Slingshot vehicles, due to higher losses — double — than other powersports vehicles in its portfolio, said President and Chief Executive Donal Hummer Jr. “We haven’t pulled back from financing them, but we are being conservative on how we areRead More

Powersports Lenders Strengthen Subprime Approvals With Co-Signers

Powersports Lenders Strengthen Subprime Approvals With Co-Signers

by November 4, 2016 at 11:44 am

LAS VEGAS — Powersports lenders are asking for a co-signer in an effort to strengthen subprime loan approvals, in the wake of a higher level of subprime consumers applying for loans this year, said Donal Hummer Jr., president and chief executive of ThunderRoad Financial. With delinquencies risings and losses peakingRead More

ThunderRoad: Lenders Need to Update Scorecards Regularly, Include Child Support

ThunderRoad: Lenders Need to Update Scorecards Regularly, Include Child Support

by October 20, 2016 at 11:30 am

LAS VEGAS — Powersports lenders need to adjust their scorecards regularly to take new metrics into consideration — including child support payments — as delinquencies and losses continue to rise in the subprime spectrum of the powersports finance space, Donal Hummer, the company’s president and chief executive, told attendees at PowerSports Finance 2016.Read More

HDFS Adjusts Underwriting Amid Rising Credit Losses

HDFS Adjusts Underwriting Amid Rising Credit Losses

by October 18, 2016 at 11:13 am

Annualized net losses continue to rise at Harley-Davidson Financial Services — reaching 1.6% in the third quarter, which has caused the company to “adjust” its underwriting in oil-dependent areas, John Olin, Harley-Davidson Inc.’s chief financial officer, said during the company’s third-quarter earnings call today. The losses are at the highest levelRead More

More ‘Ugly Subprime’ Showing Up in Powersports, Higher Down Payments Required

More ‘Ugly Subprime’ Showing Up in Powersports, Higher Down Payments Required

by October 12, 2016 at 10:30 am

LAS VEGAS — Delinquencies are rising and losses are peaking this year in the subprime spectrum of the powersports finance arena, said Donal Hummer, president and chief executive of ThunderRoad Financial. “We’re seeing what I call a lot of ‘really ugly subprime’ through this last year, and we’re actually amazed that theseRead More

ThunderRoad CEO to Share Subprime Tips on Conference Panel

ThunderRoad CEO to Share Subprime Tips on Conference Panel

by September 13, 2016 at 12:10 pm

Lenders need to have “some skin in the game” when financing subprime customers in order to mitigate losses and boost yields, said Donal Hummer Jr., founder, president, and chief executive of ThunderRoad Financial. “From my standpoint, equity is king,” Hummer told Powersports Finance. Requiring the subprime customer to have aRead More