Originations Report: Consumer Unsecured, March 2026

March 2026: Consumer Unsecured Originations Hit a New Record High

dv01’s latest Consumer Unsecured Origination Report shows March originations surpassing $5.5 billion for the first time, with volumes rising 21.8% MoM and 37% YoY. Beneath that headline growth, the market continues to show a strong pricing imperative toward higher-quality borrowers.

What the Data Shows: Record Volume, Mixed Credit Trends, Sharper Pricing Gaps

• Originations reached new all-time high: March 2026 originations exceeded $5.5 billion, topping the prior monthly record by nearly $250 million and marking the second consecutive month of seasonal outperformance.

• Growth remains elevated: Origination growth has exceeded 25% YoY for 19 straight months, with March posting 37% YoY growth.

• Pricing dispersion across FICO tiers remains historically wide: The 760+ vs. <670 GWAC spread narrowed slightly in March but remained at its second-highest level in history, while the 720–760 vs. 670–695 spread also tightened only modestly. Meanwhile, the 760+ vs. 720–760 spread was unchanged, reinforcing dv01’s view that competition remains especially intense at the top end of the credit spectrum.

What We’re Watching: Growth Is Strong, but the Market Is Getting More Selective

• Whether record origination volume persists through the rest of 2026

• How long competition for the highest-quality borrowers continues to compress pricing at the top end

• Whether mixed credit signals, including lower FICO and income but softer PTI and DTI+PTI, develop into a more durable trend