CFPB Launches Database Tracking Trends in Auto Loans, Credit Cards, Student Loans, and Mortgages

The Consumer Financial Protection Bureau announced today the launch of its Consumer Credit Trends tool, which provides information about mortgages, auto loans, credit cards, and student loans.

While delinquency and default rate information are not included in the trends database, there are some interesting statistics that may be of use to collection agencies and other companies in the accounts receivable management industry.

With credit cards, for example, the tool provides information on origination levels, the volume of origination levels by credit tiers (prime, near prime, subprime, and deep subprime), and lending activity by neighborhood and by borrower age.

The same categories of trends are available for the other asset classes, as well.

“Dipping into this dynamic stream of information can tell us much about the current state of these consumer financial markets and how consumers are faring,” said CFPB Director Richard Cordray in a speech this afternoon at the CFPB’s Research Conference. “It also may help us see where the markets seem to be headed. For example, it may supply early warning signals when problems are building in a given market, which can help our colleagues at the Consumer Bureau consider how they could take action to prevent these problems or devise appropriate remedies.”

The data is being taken from a “nationally representative sample of credit records” from the three major credit bureaus.

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