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News

KBRA Releases 2018 Consumer Loan Marketplace Lending Year in Review and 2019 Outlook

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Kroll Bond Rating Agency (KBRA) publishes its 2018 Consumer Loan Marketplace Lending Year in Review and 2019 Outlook. The report found that 2018 was another notable year in the consumer loan marketplace lending (MPL) space. Total consumer loan MPL ABS securitization issuance (excluding student loans) in 2018 reached record levels of $8.7 billion, up 11% from $7.8 billion in 2017. In addition, consumer loan ABS volume from most MPL platforms included in KBRAs analysis is above their 2017 levels. However, MPL ABS securitization loan volume saw a 17% year-over-year decline in Q4 2018, due to increased volatility and a sell-off in risk which pushed spreads 35-45bps wider by year-end. While securitization remained the preferred long-term funding choice, MPL platforms continue to diversify their sources of funding to include pass-through notes and balance sheet funding through bank warehouse lines.

KBRA rated 21 consumer loan MPL securitizations in 2018, bringing our total to 52 rated securitizations in the space. KBRA continues to be the leading rating agency in the consumer MPL sector and remains the top rating agency in terms of market share and rated bond amount. KBRAs 2018 year in review and 2019 outlook provides:

  • Information regarding consumer MPL ABS growth and spreads
  • Detailed loan origination and ABS issuance volume by platform
  • Securitization performance and rating trends
  • Comparison of collateral characteristics, lending license arrangements, and funding sources
  • A synopsis of legal and regulatory developments affecting the sector
  • KBRAs outlook for 2019

To access the report, click here.

Related Publications: (available at www.kbra.com)

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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 designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is 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.

Analytical Contacts:
Eric Neglia, Managing
Director

(646) 731-2456
eneglia@kbra.com

Brian
Ford, Senior Director

(646) 731-2329
bford@kbra.com

Abby
Barkwell, Associate Director

(646) 731-3304
abarkwell@kbra.com

William
Carson, Senior Director

(646) 731-2405
wcarson@kbra.com

Charlene
Davis, Director

(646) 731-2439
cdavis@kbra.com

Michael
Polvere, Analyst

(646) 731-3339
mpolvere@kbra.com

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