Report: Past-Due Subprime Loans Hit 11-Year High


A new Fitch Rat­ings study shows sub­prime auto loan delin­quen­cies at an 11-year high: 4.3 of sub­prime loans in asset-backed secu­ri­ties were at least 60 days past due in Sept, a 40% jump over Sept of 2007. Prime loans are far­ing much bet­ter. Longer loans, loos­er under­writ­ing, and a jump in unem­ploy­ment were all con­tribut­ing fac­tors.

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