Origination Report: Consumer Unsecured, February 2023

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

Quick Insights

• Consumer Unsecured: All PTI metrics rose MoM; the increase was far more concentrated in DTI relative to PTI, suggesting a slight shift to more indebted borrowers being underwritten (page 4).

• Consumer Unsecured: GWACs rose 33 bps MoM among Top Grades, 6 bps among Middle Grades, and remained unchanged among Bottom Grades (page 8).

• Auto: Rising PTI ratios are a clear sign of increasing risks in Auto securitizations. Average PTI has steadily increased (page 13).