The NMBA recently released its 2007 Annual Report/2006 Marine Finance Market Summary, which provides the most comprehensive 2006 marine financing data available anywhere in the United States. Among its major findings, the survey reports the average size of boat loans increased in 2006 over the previous years’ total, while the volume of marine loans originated last year was down for the entire 12-month period. Delinquency and charge-off activity also trended slightly downward in 2006.

Valuable demographic information is likewise revealed in the annual survey. Findings indicate the majority of boat loan customers—more than 80 percent—continue to range in age from 35 to 54 years old. Nearly 40 percent of borrowers in 2006 reported an annual household income between $50,000 and $100,000; only slightly more than 12 percent of borrowers reported earning $500,000 or more.

NMBA’s Annual Report collects current information on marine lending performance as well as marine industry trends, and is the only one of its kind in existence. It provides useful data by which marine lending companies can benchmark themselves against others in the industry.

In 2007, 55 of the 72 active NMBA members that currently offer marine financing supplied data for the Annual Report. Data published is supplied by NMBA members, then collected and analyzed by the Recreational Marine Research Center (RMRC) at Michigan State University. The final document is printed and distributed by the NMBA, an affiliate of the NMMA.

The 2007 NMBA Annual Report, which was formerly divided into three sections, is this year presented in just two. Section One now provides information from banks and those lenders that hold marine loan portfolios, including retail consumer loan activity and floor plan financing data. The final pages of Section One provide interesting retail data with multiple year histories covering such areas as loan yields, portfolio performance, duration and more.

Section Two of the report focuses squarely on the marine finance service company/finance broker industry and provides “stand-alone” statistics for the critically important service company segment.

A copy of the report is available free of charge to survey participants; non-participants may obtain a copy for $249 if they are NMBA members and $325 if they are non-members.

For additional information on the 2007 NMBA Annual Report, visit marinebankers.org, or contact Bernice McArdle at (312) 946-6260.