Subject: Re: Credit Card Delinquencies Up
Upstart's UMI Index is still rising. At 1.71 as of July. Meaning they believe
the macroeconomy is causing default rates to be 71% higher than the long-run
average.

The Upstart Macro Index (UMI) estimates the impact of the macroeconomy
on credit losses for Upstart-powered unsecured personal loans. UMI is expressed
as a multiple of defaults relative to a static baseline due to macroeconomic
changes. For example, a UMI of 1.25 for a given month suggests that the macro
caused default rates to be 25% higher than the long-run average.

https://www.upstart.com/umi/

Ears