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How Underwater Are Medallion Loan Portfolios? "Credit News 24"

Medallion Financial's Form 10-Q filed with the Securities and Exchange Commission discloses how underwater its medallion loans are.

According to its 10-Q,

"Decreases in the value of our medallion loan collateral have resulted in an increase in the loan-to-value ratios of our medallion loans. We estimate that the weighted average loan-to-value ratio of our managed medallion loans was approximately 124% as of March 31, 2018 and 129% as of December 31, 2016."

While information on the geographic mix of taxi medallion loans, down payments, and loan structures are not known, this loan-to-value statistic provides a good approximation of how underwater are the medallion loan portfolios at taxi medallion lending credit unions.


Title : How Underwater Are Medallion Loan Portfolios? "Credit News 24"
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