Monthly Overview
KBRA will now provide credit performance for all outstanding securitized marketplace consumer loan pools, rather than separating credit performance into a Tier 1 and Tier 2 index. This change will be retroactively applied back to the inception of these two indices, beginning in March 2018 (see KBRA Consolidates U.S. Marketplace Consumer Loan ABS Index).
December remittance reports showed improved credit performance across securitized marketplace consumer loan pools. Annualized net losses and 30+ day delinquencies fell 23 basis points (bps) and 33 bps month-over-month (MoM). While both metrics remain elevated from an historical perspective (see Figures 1-6), their year-over-year (YoY) performance has improved, with net losses falling 299 bps to 14.41% and delinquency rates down 76 bps to 5.88%.
Current index values as well as MoM and YoY changes are presented in the table below.
The data shown in this…