Origination Report: Consumer Unsecured, February 2025

February Consumer Unsecured Loan Volume and Credit Trends Show Strong YoY Growth and Market Adjustments

• Overall: February originations are typically the weakest of the year, with volumes declining 10-15% MoM. This year, however, it dropped 6.5% MoM and rose 44% YoY.

• FICO: The share of loans made to 720-760 FICO borrowers declined to 31%, down from 34%.

• GWAC: Declined for Top Grades, unchanged for Middle/Bottom Grades, likely due to shifting risk-pricing, issuer concentration adjustments, and increased investor demand for higher-quality loans amid post-election volatility.