US National Consumer Credit Trends Report Originations DATA

US National Consumer Credit Trends Report: Originations DATA AS OF MARCH 2017 MAY 2017 © 2017 Equifax Inc. All Rights Reserved

CREDIT TRENDS ORIGINATIONS: FIRST MORTGAGE 48 © 2017 Equifax Inc. All Rights Reserved

First Mortgage Originations Observations Originations through January 2017 reported as of March 2017: 533, 560 first mortgages have been originated year-to-date through January. This is a 4. 2% increase from the same YTD period in 2016. The total dollar amount of first mortgages originated YTD is $129. 3 billion, an 8. 9% increase over the previous year. 29, 930 first mortgages have been issued YTD to consumers with a Vantage. Score® 3. 0 credit score below 620. These are generally considered subprime accounts. This is a 5. 6% increase over 2016. These newly issued mortgages have corresponding total balances of $5. 61 billion, a 4. 3% increase over the same period a year ago. Through January, 5. 6% of first mortgages were issued to consumers with a subprime credit score and subprime mortgages account for 4. 3% of new mortgage origination balances. In 2016 the subprime shares were 5. 9% of accounts and 4. 6% of balances The average loan amount for all first mortgages originated in January 2017 was $235, 3612. This is a 1. 5% increase from January 2016. The average origination balance on subprime first mortgages was $181, 531. This is a 1. 1% increase compared to January 2016. Originations through January 2017 reported as of March 2017 49 © 2017 Equifax Inc. All Rights Reserved

First Mortgage Originations: Accounts Number of Accounts in Millions; NSA NUMBER OF FIRST MORTGAGE ACCOUNTS ORIGINATED IN MILLIONS YEAR ANNUAL %YOY YTD %YOY CURRENT MO %YOY 2009 2010 2011 2012 2013 2014 2015 2016 2017 9. 24 7. 94 7. 00 9. 71 9. 46 5. 86 7. 44 8. 46 --- 27. 3% -14. 1% -11. 8% 38. 7% -2. 6% -38. 1% 27. 1% 13. 7% --- 0. 68 0. 49 0. 60 0. 62 0. 85 0. 37 0. 43 0. 51 0. 53 Source: Equifax Inc. 15. 0% -28. 7% 22. 6% 3. 4% 38. 3% -56. 4% 16. 7% 18. 1% 4. 2% 0. 68 0. 49 0. 60 0. 62 0. 85 0. 37 0. 43 0. 51 0. 53 15. 0% -28. 7% 22. 6% 3. 4% 38. 3% -56. 4% 16. 7% 18. 1% 4. 2% Originations through January 2017 reported as of March 2017 50 © 2017 Equifax Inc. All Rights Reserved

First Mortgage Originations: Balances $ Balances in Billions; NSA TOTAL FIRST MORTGAGES BALANCES ORIGINATED IN $ BILLIONS YEAR ANNUAL %YOY YTD %YOY CURRENT MO %YOY 2009 2010 2011 2012 2013 2014 2015 2016 2017 $1, 863 $1, 640 $1, 435 $2, 062 $1, 961 $1, 275 $1, 750 $2, 080 --- 29. 9% -12. 0% -12. 5% 43. 6% -4. 9% -35. 0% 37. 2% 18. 8% --- $140. 4 $100. 5 $124. 1 $130. 2 $181. 5 $76. 8 $100. 2 $118. 8 $129. 3 Source: Equifax Inc. 16. 3% -28. 5% 23. 5% 5. 0% 39. 3% -57. 7% 30. 3% 18. 6% 8. 9% $140. 4 $100. 5 $124. 1 $130. 2 $181. 5 $76. 8 $100. 2 $118. 8 $129. 3 16. 3% -28. 5% 23. 5% 5. 0% 39. 3% -57. 7% 30. 3% 18. 6% 8. 9% Originations through January 2017 reported as of March 2017 51 © 2017 Equifax Inc. All Rights Reserved

First Mortgage Subprime FM Originations: Accounts Number of Accounts in Thousands; NSA Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 less than 620 YEAR 2009 2010 2011 2012 2013 2014 2015 2016 2017 NUMBER OF SUBPRIME FIRST MORTGAGE ACCOUNTS ORIGINATED IN THOUSANDS ANNUAL % of TOTAL %YOY YTD % of TOTAL %YOY CURRENT MO % of TOTAL 601. 2 348. 6 280. 5 351. 8 509. 7 320. 6 390. 5 442. 0 --- 6. 5% 4. 4% 4. 0% 3. 6% 5. 4% 5. 5% 5. 2% --- -32. 3% -42. 0% -19. 5% 25. 4% 44. 9% -37. 1% 21. 8% 13. 2% --- 53. 7 27. 0 20. 8 22. 2 32. 0 21. 7 23. 3 30. 4 29. 9 7. 9% 5. 5% 3. 6% 3. 8% 5. 4% 5. 9% 5. 6% Source: Equifax Inc. -36. 9% -49. 8% -23. 0% 6. 9% 44. 2% -32. 4% 7. 7% 30. 3% -1. 5% 53. 7 27. 0 20. 8 22. 2 32. 0 21. 7 23. 3 30. 4 29. 9 7. 9% 5. 5% 3. 6% 3. 8% 5. 4% 5. 9% 5. 6% %YOY -36. 9% -49. 8% -23. 0% 6. 9% 44. 2% -32. 4% 7. 7% 30. 3% -1. 5% Originations through January 2017 reported as of March 2017 52 © 2017 Equifax Inc. All Rights Reserved

First Mortgage Subprime FM Originations: Balances Total Origination Balances in $Billions; NSA Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 less than 620 YEAR 2009 2010 2011 2012 2013 2014 2015 2016 2017 TOTAL SUBPRIME FIRST MORTGAGE BALANCES ORIGINATED IN $ BILLIONS ANNUAL % of TOTAL %YOY YTD % of TOTAL %YOY CURRENT MO % of TOTAL $92. 3 $51. 3 $40. 6 $54. 8 $81. 6 $50. 6 $68. 9 $82. 9 --- 5. 0% 3. 1% 2. 8% 2. 7% 4. 2% 4. 0% 3. 9% 4. 0% --- -32. 1% -44. 4% -20. 9% 35. 0% 48. 8% -38. 0% 36. 2% 20. 3% --- $8. 70 $4. 07 $3. 18 $3. 40 $5. 19 $3. 29 $3. 90 $5. 46 $5. 61 6. 2% 4. 0% 2. 6% 2. 9% 4. 3% 3. 9% 4. 6% 4. 3% Source: Equifax Inc. -35. 8% -53. 2% -21. 7% 6. 7% 52. 7% -36. 7% 18. 7% 40. 0% 2. 8% $8. 70 $4. 07 $3. 18 $3. 40 $5. 19 $3. 29 $3. 90 $5. 46 $5. 61 6. 2% 4. 0% 2. 6% 2. 9% 4. 3% 3. 9% 4. 6% 4. 3% %YOY -35. 8% -53. 2% -21. 7% 6. 7% 52. 7% -36. 7% 18. 7% 40. 0% 2. 8% Originations through January 2017 reported as of March 2017 53 © 2017 Equifax Inc. All Rights Reserved

First Mortgage Origination Loan Amounts Average Origination Balances Over Time; NSA Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 less than 620 Source: Equifax Inc. Originations through January 2017 reported as of March 2017 54 © 2017 Equifax Inc. All Rights Reserved

First Mortgage YTD First Mortgage Origination Balances Year-to-Date Total Origination Balances in $Billions; Subprime Share of Total Origination Balances (%); Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 less than 620 Source: Equifax Inc. Originations through January 2017 reported as of March 2017 55 © 2017 Equifax Inc. All Rights Reserved

First Mortgage Origination Risk Year-to-date Vantage. Score® 3. 0 Distribution for First Mortgage Loan Originations by Year (Percent of Accounts) Source: Equifax Inc. Originations through January 2017 reported as of March 2017 56 © 2017 Equifax Inc. All Rights Reserved

CREDIT TRENDS ORIGINATIONS: HOME EQUITY REVOLVING LINES OF CREDIT 57 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Lines of Credit HELOC Originations Observations Originations through January 2017 reported as of March 2017: Over 99, 580 HELOCs have been originated year-to-date. This is a 0. 8% increase from 2016 and the highest number for the period since 2008, when 159, 835 HELOCs were originated YTD. The total credit limit on HELOCs originated YTD is $11. 5 billion, a 1. 7% increase over the previous year and a nine-year high. 2, 748 HELOCs have been issued YTD to consumers with a Vantage. Score® 3. 0 credit score below 620. These are generally considered subprime accounts. These newly issued HELOCs have a corresponding total credit limit of $173. 1 million. Through January, 2. 8% of HELOCs were issued to consumers with a subprime credit score and aggregated credit limits on new subprime HELOCs are 1. 5% of total HELOC credit limits originated YTD. A year ago the subprime shares were 2. 6% of accounts and 1. 3% of credit limits. The average credit limit for all HELOCs originated in January 2017 was $115, 803. This is a 1. 0% increase over January 2016. The average credit limit on subprime HELOCs was $63, 072. This is a 12. 8% increase compared to January 2016. Originations through January 2017 reported as of March 2017 58 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Lines of Credit HELOC Originations: Accounts Number of Accounts in Thousands; NSA YEAR 2009 2010 2011 2012 2013 2014 2015 2016 2017 NUMBER OF HELOC ACCOUNTS ORIGINATED IN THOUSANDS ANNUAL %YOY YTD %YOY CURRENT MO 976. 5 863. 7 823. 9 872. 0 1, 050 1, 222 1, 366 1, 435 --- -45. 9% -11. 5% -4. 6% 5. 8% 20. 5% 16. 3% 11. 8% 5. 0% --- 76. 8 51. 5 56. 1 56. 6 64. 3 71. 6 86. 4 98. 8 99. 6 Source: Equifax Inc. -51. 9% -33. 0% 9. 0% 0. 9% 13. 4% 11. 4% 20. 7% 14. 4% 0. 8% 76. 8 51. 5 56. 1 56. 6 64. 3 71. 6 86. 4 98. 8 99. 6 %YOY -51. 9% -33. 0% 9. 0% 0. 9% 13. 4% 11. 4% 20. 7% 14. 4% 0. 8% Originations through January 2017 reported as of March 2017 59 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Lines of Credit HELOC Originations: Total Credit Limits in $Billions; NSA YEAR 2009 2010 2011 2012 2013 2014 2015 2016 2017 TOTAL HELOC CREDIT LIMITS ORIGINATED IN $ BILLIONS ANNUAL %YOY YTD %YOY CURRENT MO $84. 6 $73. 4 $72. 6 $80. 0 $99. 9 $121. 5 $145. 7 $158. 4 --- -54. 3% -13. 2% -1. 0% 10. 1% 24. 9% 21. 6% 20. 0% 8. 7% --- $7. 6 $4. 4 $5. 0 $5. 3 $6. 2 $7. 4 $9. 4 $11. 3 $11. 5 Source: Equifax Inc. -53. 8% -41. 3% 12. 1% 6. 3% 18. 1% 19. 1% 26. 4% 20. 7% 1. 7% $7. 6 $4. 4 $5. 0 $5. 3 $6. 2 $7. 4 $9. 4 $11. 3 $11. 5 %YOY -53. 8% -41. 3% 12. 1% 6. 3% 18. 1% 19. 1% 26. 4% 20. 7% 1. 7% Originations through January 2017 reported as of March 2017 60 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Lines of Credit Subprime HELOC Originations: Accounts Number of Accounts in Thousands; NSA Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 less than 620 YEAR 2009 2010 2011 2012 2013 2014 2015 2016 2017 ANNUAL 21. 4 18. 5 18. 2 18. 8 23. 7 31. 1 34. 1 36. 8 --- NUMBER OF SUBPRIME HELOC ACCOUNTS ORIGINATED IN THOUSANDS % of TOTAL %YOY YTD % of TOTAL %YOY CURRENT MO % of TOTAL 2. 2% 2. 1% 2. 2% 2. 3% 2. 5% 2. 6% --- -61. 2% -13. 2% -1. 8% 3. 2% 26. 1% 31. 3% 9. 5% 8. 2% --- 1. 86 1. 23 1. 20 1. 28 1. 37 1. 88 2. 36 2. 54 2. 75 2. 4% 2. 1% 2. 3% 2. 1% 2. 6% 2. 7% 2. 6% 2. 8% Source: Equifax Inc. -73. 8% -33. 9% -2. 0% 6. 2% 7. 0% 38. 0% 25. 0% 8. 0% 1. 86 1. 23 1. 20 1. 28 1. 37 1. 88 2. 36 2. 54 2. 75 2. 4% 2. 1% 2. 3% 2. 1% 2. 6% 2. 7% 2. 6% 2. 8% %YOY -73. 8% -33. 9% -2. 0% 6. 2% 7. 0% 38. 0% 25. 0% 8. 0% Originations through January 2017 reported as of March 2017 61 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Lines of Credit Subprime HELOC Originations: Total Limits Total Credit Limits in $Millions; NSA Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 less than 620 YEAR 2009 2010 2011 2012 2013 2014 2015 2016 2017 ANNUAL $1, 255 $954. 3 $900. 9 $961. 6 $1, 283 $1, 709 $1, 920 $2, 153 --- TOTAL SUBPRIME HELOC CREDIT LIMITS ORIGINATED IN $ MILLIONS % of TOTAL %YOY YTD % of TOTAL %YOY CURRENT MO % of TOTAL 1. 5% 1. 3% 1. 2% 1. 3% 1. 4% --- -66. 4% -23. 9% -5. 6% 6. 7% 33. 4% 33. 3% 12. 1% --- $115. 6 $69. 1 $60. 2 $70. 5 $68. 4 $111. 9 $135. 0 $142. 2 $173. 1 1. 5% 1. 6% 1. 2% 1. 3% 1. 1% 1. 5% 1. 4% 1. 3% 1. 5% Source: Equifax Inc. -75. 7% -40. 3% -12. 8% 17. 0% -2. 9% 63. 5% 20. 6% 5. 4% 21. 7% $115. 6 $69. 1 $60. 2 $70. 5 $68. 4 $111. 9 $135. 0 $142. 2 $173. 1 1. 5% 1. 6% 1. 2% 1. 3% 1. 1% 1. 5% 1. 4% 1. 3% 1. 5% %YOY -75. 7% -40. 3% -12. 8% 17. 0% -2. 9% 63. 5% 20. 6% 5. 4% 21. 7% Originations through January 2017 reported as of March 2017 62 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Lines of Credit HELOC Origination Credit Limit Average Origination Credit Limit over time; NSA Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 less than 620 Source: Equifax Inc. Originations through January 2017 reported as of March 2017 63 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Lines of Credit YTD HELOC Origination Credit Limits Year-to-Date Total Credit Limits in $Billions; Subprime Share of Total Origination Credit Limits (%); NSA Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 less than 620 Source: Equifax Inc. Originations through January 2017 reported as of March 2017 64 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Lines of Credit HELOC Origination Risk Year-to-date Vantage. Score® 3. 0 Distribution for HELOC Originations by Year (Percent of Accounts) Source: Equifax Inc. Originations through January 2017 reported as of March 2017 65 © 2017 Equifax Inc. All Rights Reserved

CREDIT TRENDS ORIGINATIONS: HOME EQUITY INSTALLMENT LOANS 66 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Installment Loans HE Loan Originations Observations Originations through January 2017 reported as of March 2017: 75, 575 HE Installment Loans have been originated year-to-date. This is a 21. 2% increase from 2016 and the highest level since 2008, when originations totaled 85, 902 accounts YTD. The total dollar amount of HE Loans originated YTD is $3. 11 billion, a 31. 8% increase over the previous year, and an eight-year high. In 2008 originations totaled $3. 89 billion YTD. 9, 438 HE Loans have been issued YTD to consumers with a Vantage. Score® 3. 0 credit score below 620. These are generally considered subprime accounts. This is a 2. 9% increase from 2016. These newly issued loans have a corresponding total origination amount of $276 million, a 12. 3% increase from 2016. Through January, 12. 5% of all HE Loans were issued to consumers with a subprime credit score, lower than the 14. 7% share recorded YTD in 2016. Origination balances on subprime HE Loans represent 8. 9% of the total. The average loan amount for all HE Loans originated in January 2017 was $47, 851. This is a 26. 3% increase from January 2016. The average loan amount on new subprime HE Loans was $31, 862. This a 18. 9% increase compared to January 2016. Originations through January 2017 reported as of March 2017 67 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Installment Loans Home Equity Loan Originations: Accounts Number of Accounts in Thousands; NSA NUMBER OF HOME EQUITY LOAN ACCOUNTS ORIGINATED IN THOUSANDS YEAR ANNUAL %YOY YTD %YOY CURRENT MO %YOY 2009 2010 2011 2012 2013 2014 2015 2016 2017 618 559 550 599 760 669 838 873 --- -37. 9% -9. 6% -1. 7% 9. 1% 26. 8% -12. 0% 25. 4% 4. 1% --- 39. 4 31. 5 34. 0 34. 8 41. 5 39. 6 48. 4 62. 4 75. 6 Source: Equifax Inc. -54. 1% -20. 0% 7. 8% 2. 2% 19. 4% -4. 5% 22. 0% 29. 0% 21. 2% 39. 4 31. 5 34. 0 34. 8 41. 5 39. 6 48. 4 62. 4 75. 6 -54. 1% -20. 0% 7. 8% 2. 2% 19. 4% -4. 5% 22. 0% 29. 0% 21. 2% Originations through January 2017 reported as of March 2017 68 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Installment Loans Home Equity Loan Originations: Balances Total Origination Balances in $Billions; NSA TOTAL HOME EQUITY LOAN BALANCES ORIGINATED IN $ BILLIONS YEAR ANNUAL %YOY YTD %YOY CURRENT MO %YOY 2009 2010 2011 2012 2013 2014 2015 2016 2017 $25. 8 $23. 5 $25. 2 $32. 3 $40. 0 $26. 9 $32. 0 $34. 4 --- -40. 1% -8. 8% 7. 1% 28. 2% 24. 1% -32. 8% 18. 8% 7. 6% --- $1. 71 $1. 31 $1. 77 $1. 82 $2. 51 $1. 83 $1. 88 $2. 36 $3. 11 Source: Equifax Inc. -56. 1% -23. 5% 35. 8% 2. 8% 37. 5% -27. 1% 3. 0% 25. 5% 31. 8% $1. 71 $1. 31 $1. 77 $1. 82 $2. 51 $1. 83 $1. 88 $2. 36 $3. 11 -56. 1% -23. 5% 35. 8% 2. 8% 37. 5% -27. 1% 3. 0% 25. 5% 31. 8% Originations through January 2017 reported as of March 2017 69 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Installment Loans Subprime HE Loan Originations: Accounts Number of Accounts in Thousands; NSA Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 less than 620 YEAR 2009 2010 2011 2012 2013 2014 2015 2016 2017 NUMBER OF SUBPRIME HOME EQUITY LOAN ACCOUNTS ORIGINATED IN THOUSANDS ANNUAL % of TOTAL %YOY YTD % of TOTAL %YOY CURRENT MO % of TOTAL 81. 5 65. 2 60. 7 56. 7 79. 4 79. 2 112. 1 --- 13. 2% 11. 7% 11. 0% 9. 5% 10. 4% 11. 8% 13. 4% 12. 8% --- -45. 0% -20. 0% -6. 9% -6. 7% 40. 1% -0. 3% 41. 8% -0. 1% --- 5. 91 4. 21 3. 66 3. 59 3. 75 4. 79 6. 86 9. 18 9. 44 15. 0% 13. 3% 10. 7% 10. 3% 9. 0% 12. 1% 14. 2% 14. 7% 12. 5% Source: Equifax Inc. -58. 0% -28. 7% -13. 1% -1. 9% 4. 6% 27. 7% 43. 2% 33. 7% 2. 9% 5. 91 4. 21 3. 66 3. 59 3. 75 4. 79 6. 86 9. 18 9. 44 15. 0% 13. 3% 10. 7% 10. 3% 9. 0% 12. 1% 14. 2% 14. 7% 12. 5% %YOY -58. 0% -28. 7% -13. 1% -1. 9% 4. 6% 27. 7% 43. 2% 33. 7% 2. 9% Originations through January 2017 reported as of March 2017 70 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Installment Loans Subprime HE Loan Originations: Balances Total Balances in $Millions; NSA Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 less than 620 YEAR 2009 2010 2011 2012 2013 2014 2015 2016 2017 TOTAL SUBPRIME HOME EQUITY LOAN BALANCES ORIGINATED IN $ BILLIONS ANNUAL % of TOTAL %YOY YTD % of TOTAL %YOY CURRENT MO % of TOTAL $2. 29 $1. 69 $1. 53 $1. 56 $2. 39 $2. 07 $2. 89 $3. 00 --- 8. 9% 7. 2% 6. 1% 4. 8% 6. 0% 7. 7% 9. 0% 8. 7% --- -48. 8% -25. 9% -9. 4% 1. 7% 53. 4% -13. 2% 39. 2% 3. 9% --- $0. 17 $0. 12 $0. 11 $0. 10 $0. 11 $0. 14 $0. 18 $0. 25 $0. 28 9. 9% 9. 1% 6. 0% 5. 6% 4. 4% 7. 9% 9. 7% 10. 4% 8. 9% Source: Equifax Inc. -65. 3% -29. 6% -11. 0% -3. 1% 8. 5% 29. 7% 26. 2% 34. 7% 12. 3% $0. 17 $0. 12 $0. 11 $0. 10 $0. 11 $0. 14 $0. 18 $0. 25 $0. 28 9. 9% 9. 1% 6. 0% 5. 6% 4. 4% 7. 9% 9. 7% 10. 4% 8. 9% %YOY -65. 3% -29. 6% -11. 0% -3. 1% 8. 5% 29. 7% 26. 2% 34. 7% 12. 3% Originations through January 2017 reported as of March 2017 71 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Installment Loans Home Equity Loan Amount at Origination Average Origination Loan Amount Over Time; NSA Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 credit score less than 620 Source: Equifax Inc. Originations through January 2017 reported as of March 2017 72 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Installment Loans YTD HE Loan Origination Balances Year-to-Date Total Balances in $Billions; Subprime Share of Total Origination Balances (%); NSA Subprime accounts defined as those with borrower’s origination Vantage. Score® 3. 0 less than 620 Source: Equifax Inc. Originations through January 2017 reported as of March 2017 73 © 2017 Equifax Inc. All Rights Reserved

Home Equity: Installment Loans Home Equity Loan Origination Risk Year-to-date Vantage. Score® 3. 0 Distribution for Home Equity Installment Loan Originations by Year (Percent of Accounts) Source: Equifax Inc. Originations through January 2017 reported as of March 2017 74 © 2017 Equifax Inc. All Rights Reserved