• Boat loan delinquency performance increased by .28 percent in 2022, but still outperforms all other consumer installment loans
The National Marine Lenders Association (NMLA) just launched their 2023 Annual Statistical Report (ASR). The ASR is a critical business tool, and the only report on the market, for developing, understanding, and supporting quality recreational marine loan production and profitability. This powerful publication benefits all businesses and associates involved in marine lending, and the entire recreational boating industry by supplying data, management tools, and summaries that can be compared to peer performance.
For 43 consecutive years, the ASR has provided detailed information and trends relating to the two major business line entities in the industry:
- Banks, credit unions and private lenders who originate and hold recreational boat loans
- Service companies who originate, outsource and broker boat loans to portfolio lenders
Selected highlights include:
- The changing state of boat loan downpayment requirements
- Current boat loan borrower demographic characteristics
- Delinquency, charge-off and yield performance
- Boat loan acquisition channels used by lenders
- Operational data for loan fees, lien perfection, floor plan, repossession and remarketing
The ASR is complimentary for participants, and is available for purchase to all non-participants and anyone interested in marine finance by visiting the NMLA website at www.marinelenders.org
About NMLA
The National Marine Lenders Association is a 501-C non-profit organization that began operations in 1979. Their mission is simple: Promote and improve recreational marine lending in the United States.
Membership is open to commercial banks, credit unions, private financing firms, and service companies who extend or originate credit to consumers, dealers, retailers, and manufacturers of recreational boats. Membership is also open to businesses associated with the marine industry such as documentation services, marine insurers, recovery agents, trade associations, admiralty attorneys, software firms, valuation services, surveyors, media, and consultants. NMLA actively creates and supports networking opportunities for its members.