U.S. Marketplace Consumer Loan ABS Index: March 2026

Monthly Overview

KBRA’s U.S. Marketplace Consumer Loan ABS Index showed a significant improvement during the month, with annualized net losses dropping 260 basis points (bps) month-over-month (MoM) and the percentage of borrowers 30+ days delinquent falling 44 bps. The substantial MoM decline in losses was primarily driven by broad-based improvements across most index constituents, aligning with typical seasonal trends observed over the past few years (see Figure 4). This seasonal improvement can be attributed to several factors, including fewer reporting days in the February collection period (which shifts some charge-offs into the following month), early tax refunds boosting consumer liquidity, and the easing of holiday-related financial strain from December and January. Due to the shorter February collection period, we expect some retracement in March performance, as charge-offs and delinquencies typically realized later in the month shift into the following reporting period…