Monthly Overview
KBRA’s U.S. Marketplace Consumer Loan ABS Index showed weaker credit performance in November. Annualized net losses—which increased 195 basis points (bps) month-over-month (MoM)—continued to exhibit variability, fully reversing the 125-bp decline recorded in October. The volatility trend is a result of late-2024 and early-2025 vintage deals that have experienced performance swings and have yet to reach steady-state loss levels. Delinquency metrics also deteriorated MoM, with the 30+ day cohort up 64 bps.
Meanwhile, credit trends have improved on a year-over-year (YoY) basis, with delinquencies down 25 bps and net losses down 26 bps.
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 here.