Monthly Overview
KBRA’s U.S. Marketplace Consumer Loan ABS Index showed stronger credit performance this month. Annualized net losses dropped 125 basis points (bps) month-over-month (MoM), driven by the redemption of two weaker performing 2023 vintage deals. Although net loss performance has been volatile for most of 2025, losses have remained range bound between approximately 12% and 15% since March. Delinquencies have also improved MoM, with 30+ day delinquencies falling 65 bps, reversing the 64-bp rise for this metric in November.
On a year-over-year (YoY) basis, credit trends have continued to improve, with delinquencies down 57 bps compared to year-ago levels, and net losses dropping 146 bps YoY. Notably, delinquencies are nearing their lowest level in three years.
Current index values as well as MoM and YoY changes are presented in the table below. The data shown in this report and other indices metrics can be found