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Pagaya’s auto run rate drops 4.5%

Fintech scaled back production in higher-risk credit

Truth Headlam

Pagaya Technologies’ auto book shrunk in the fourth quarter of 2025 as the company sought to reduce exposure to adverse outcomes.  The fintech’s annualized run-rate for auto was $2.1 billion as of Q4, down 4.5% quarter over quarter, according to its letter to shareholders published on Feb. 9. The run-rate, however, is up from $1 billion as of yearend 2024.  […]

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