U.S. Marketplace Consumer Loan ABS Index: April 2026

Monthly Overview

KBRA’s U.S. Marketplace Consumer Loan ABS Index displayed the expected retracement from March reporting, with annualized net losses increasing 215 basis points (bps) month-over-month (MoM) and the 30+ day delinquency rate rising 12 bps. As noted in our March report, the substantial MoM decline in net losses during the February collection period was partially driven by fewer reporting days, which shifted some charge-offs into the following collection period; this month’s increase reflects that reversal.

From a year-over-year (YoY) perspective, the index’s performance improved across both annualized net losses and delinquency rates, declining 221 bps and 99 bps, respectively. These improvements extend a three-year trend of steadily strengthening credit performance (see Figures 3-6).

Current index values as well as MoM and YoY changes are…