U.S. Marketplace Consumer Loan ABS Indices: October 2024
Monthly remittance reports showed mixed credit performance across marketplace consumer loan pools in October. Annualized net losses in KBRA’s Tier 1 Index increased for the third consecutive month, increasing 24 basis points (bps) month-over-month (MoM), reaching its highest level since index inception. Alternatively, 30+ delinquency rates improved 43 bps MoM, falling to their lowest level since July. Annualized net losses in KBRA’s Tier 2 Index fell 17 bps MoM, a fourth consecutive monthly improvement for this metric. Additionally, delinquencies declined 17 bps during the month.
On a year-over-year (YoY) basis, the indices have continued to move in opposite directions. Tier 1 annualized net loss and delinquency metrics are up 251 bps and 124 bps, respectively, since last October. Meanwhile, Tier 2 net loss and delinquency rates are down 323 bps and 74 bps YoY, respectively.
Current index values as well as MoM and YoY changes are presented in the table below.
The data shown in this…
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