Origination Report: Consumer Unsecured, July 2025

July Momentum: Consumer Unsecured Originations Extend Record Run

July 2025 added another chapter to the sector’s record-setting streak, with total volume topping $5B for the second month in a row.

Quick Insights

• Origination volume up 1% MoM and 69% YoY — second only to June’s pace since 2017

• Average FICO rose 2 points to 726, with record-high 760+ share (27% of originations outside of COVID period)

• Midwest + PA originations rebounded; Oil State share continues long-term rise as New England/NY slips below 15%

• Top Grade pricing up 22 bps to a seven-month high; income- and FICO-based pricing differences remain compressed vs. pre-COVID