KBRA releases its marketplace consumer loan indices for August 2022, providing monthly credit trends across securitized loan pools.

Effective this month, KBRA will add four new ABS issuers to its Tier 2 MPL Index. The Tier 2 MPL Index now comprises ABS loan pools issued through the LendingClub-Prime, Prosper, Upgrade, Upstart, Freedom (F+ Loans), LendingPoint, Pagaya, and Theorem ABS shelves. Only deals with 6+ months of seasoning are included to better reflect the current universe of outstanding securitized marketplace consumer loan pools from platforms that generally issue ABS deals with a weighted average credit score between 660 and 710. The four ABS issuers being added to our Tier 2 index are Freedom Financial (FREED), LendingPoint (LDPT), Pagaya (PAID), and Theorem (THRM), which have issued programmatic securitizations over the past 24 to 36 months.

At this time, there are no changes to our Tier 1 Index, which is generally composed of securitized loan pools with a weighted average credit score of 710 to 760.

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About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

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