Market Overview

KBRA Releases Marketplace Consumer Loan Indices for July

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Kroll Bond Rating Agency (KBRA) releases its marketplace consumer loan
indices for July.

The primary market was active again this month, with SoFi and Marlette
pricing a total of $948 million of marketplace consumer loan bonds.
However, pricing was a bit softer compared to the last time these two
issuers tapped the ABS market in May. Looking at collateral performance
in July, the results were mixed, but fundamentals remain solid.
Annualized net losses in KBRA's Tier 1 Index fell to 3.74%, while Tier 2
Index loss rates came in at 12.10%, up 181bp MoM, but down 279bp YoY.
Meanwhile, KBRA's Tier 3 Index experienced strong collateral performance
metrics, driven by stronger performance in Avant's (AVNT) 2017 vintage
deals versus their 2016 vintage.

To view the report, please click here.

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About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S.
Securities and Exchange Commission as an NRSRO. In addition, KBRA is
recognized by the National Association of Insurance Commissioners as a
Credit Rating Provider and a certified Credit Rating Agency (CRA) by the
European Securities and Markets Authority (ESMA). Kroll Bond Rating
Agency Europe Limited is registered with ESMA as a CRA.

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