Thank You Paige Skiba

On behalf of eveyone at Credit Slips, I wanted to thank Professor Paige Skiba for spending a week with us. Paige was able to share data from her new paper with Jim Hawkins on title loans.

As the blog administrator, what I appreciated perhaps most of all was Paige's use of our Shutterstock account to liven up the main blog page with some images and color. (I am looking at you fellow Credit Slips bloggers.) In tribute to Paige's time with us, here is the photo that comes up when you search for "title loan" at Shutterstock. I shudder to imagine what automobile goes with that key!

Thanks again, Paige.

Key and title image from Shutterstock.

Comments

[Paige Marta Skiba]

Thanks Bob! It was great fun as always.

[Ian]

Good article on an up-and-coming fraud. Another avenue which you might like to explore is the subprime auto loan, and the dealers' insistence that
borrowers buy extended warranty coverage as a requirement for financing. These policies are usually $2500 or so, at 15% or more, for 4-5-6 years, so the cost is substantial. And, several months after buying the vehicle (and the ext.warranty), I get a 'copy' of my 'closing docs', and on the first page is stated that vehicle financing is not dependent on purchase of an extended warranty. "Geez, but that's what the saleswoman told me". So with millions, or tens of millions of people getting subprime loans, and GM making a re-entrance into the marked with their repurchase of GMAC, or ResCap, or whatever their subprime fraud unit was called, this is sure to be a huge problem pretty quickly.