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.
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