The National Marine Lenders Association released its 2023 Annual Statistical Report, which provides information for understanding recreational marine loan production and profitability.
The 63-page presentation of 2022 full-year boat loan portfolio statistics shows that loan delinquency performance increased 0.28% in but outperformed other consumer installment loans.
NMLA said in a statement the report includes detailed information and trends related to two major business entities: banks, credit unions and private lenders that originate and hold recreational boat loans; and service companies that originate, outsource and broker boat loans to portfolio lenders.
Report highlights include
• the changing state of boat-loan down payment requirements
• boat-loan borrower demographics
• delinquency, charge-off and yield performance
• boat-loan acquisition channels used by lenders
• operational data for loan fees, lien perfection, floorplan, repossession and remarketing
The report is complementary for participants or can be purchased here.
