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The First Marblehead Corporation Message Board

  • teamonfuego teamonfuego Jun 11, 2013 10:46 PM Flag

    Consumer Credit for May 2013

    "Consumer borrowing in the U.S. accelerated in April as Americans took out more education and automobile loans.

    Non-Revolving Loans
    Non-revolving debt, such as that for college tuition and the purchase of vehicles and mobile homes, increased $10.4 billion, today’s report showed. "

    The trends are clearly in FMD's favor. The one area that is growing faster than the rest of the economy is the student loan / debt / higher education sector. I don't think this trend is anywhere near stopping. Default rates on government issued student loan debt is triple that of the private sector. Yields on ABS in the student loan market are significantly higher than most other assets so anyone looking for yield will be looking at this area. With default rates of 5% or less this market will continue to get interest from investors. I'm talking my book of course but I think there is substantial opportunity in this area and I think FMD is at the very beginning stages of a long term bull run.

 
FMD
5.19+0.03(+0.58%)Jul 11 4:01 PMEDT

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