Behind the Data: Credit Trends, Refinance Realities & the Return of Second Liens

In this episode, Vadim revisits the standout questions from dv01’s recent consumer credit webinar with Jefferies, Upgrade, and Prosper—digging deeper into the state of the consumer, credit performance trends, origination behavior, and refinancing dynamics.

Vadim also introduces dv01’s new Closed-End Seconds Benchmark, spotlighting its relevance in today’s housing affordability environment. Tune in for insights on:

• The correlation between origination volumes and credit performance

• The role of housing equity across income cohorts

• Trends in consumer unsecured refinancing and BNPL/home improvement lending

• Why second liens are seeing renewed investor interest post-GFC

• Early performance signals in dv01’s Closed-End Seconds Benchmark

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About the dv01 Podcast

dv01's In The Tranches of Structured Finance podcast explores macroeconomic trends, sector performance, and the future of capital markets. As a leading market intelligence company in structured credit, dv01 provides transparency and actionable insights through loan-level data and research.