Weekly Wrap: Auto industry pulls back on consumer assistance

This week, the auto industry is eyeing potential increases in delinquency rates as long-term deferrals come to an end. Since the COVID-19 pandemic hit the country in March, lenders have made it a priority to help consumers with two to three-month long payment assistance programs. The industry now is seeing payment extensions on securitized auto loans decline, along with the percentage of auto accounts in financial hardship status — accounts with deferred payments, that are in a forbearance program or are frozen or have a frozen past due payment.