Origination Report: Consumer Unsecured, June 2025

June Surge: Consumer Unsecured Origination Volume Smashes Records, Pricing Dynamics Shift

June 2025 marked a historic high in the consumer unsecured market. Total origination volume reached $5.03B, the highest monthly total on record, driven by a broad expansion across credit tiers and strong platform activity.

Quick Insights

• Origination volume rose 13.6% MoM and 73% YoY, the fastest annual growth since 2017

• Below-695 FICO share continued rising, now accounting for ~25% of originations, nearly double late-2023 levels

• Top Grade pricing fell 15 bps, while borrower income rose 0.6% MoM and balances climbed even faster

• Borrower credit quality remains strong, with steady or improving trends in credit age, DTI, and PTI

• Income-based pricing differences narrowed, pointing to more uniform rate setting across borrower segments