Origination Report: Consumer Unsecured & Auto Loans, October 2022

The latest installment of the dv01 Origination Report is now available.

Quick Insights

• Consumer Unsecured: October originations fell 11% MoM, reversing improvements seen in August and September (page 2).

• Consumer Unsecured: Originations by FICO scores recorded its largest monthly increase in four months, driven primarily by the decline in Sub 660 FICO loans originated (page 4).

• Auto: Auto origination trends in securitizations have diverged from the overall market, with the largest divergence evident in FICOs (page 11).

• Auto: There has been a slight increase in LTV 100-110 loans, offset by a slight decline in LTV 85-100 loans. Considering the material runup in both new and used car pricing, this suggests originators are maintaining good discipline and protecting against price corrections (page 14).

What's New

• dv01’s Consumer Unsecured data library is growing, and we’ve incorporated newly onboarded loan data into our analysis. Pre-2022 origination data has not materially impacted prior findings.

• The Auto dataset has expanded to include Prime auto data; previously it was solely Subprime Auto data.

• dv01 periodically reviews its composition for Top, Middle, and Bottom Grades, and has adjusted its criteria. dv01’s views on originations trends have not changed based on the changes.