SHREVEPORT, La. -- Subprime mortgage loans are the primary cause of delinquencies in loan portfolios, according to a snapshot online survey comprised by the African-American Credit Union Coalition.
The survey, located on the AACUC's Web site at www.aacuc.org, asked, "What is causing the most significant amount of delinquencies within your loan portfolio?" Twenty-two percent said subprime mortgage loans closely followed by death and disability. Seventeen percent of survey respondents said indirect lending and bankruptcies while 20% indicated "other" factors.
--msamaad@cutimes.com
