Late payments on both prime and subprime securitized auto loans continued to rise in December, reaching a five-year high according to Fitch Ratings.

For subprime securitizations tracked by Fitch (approximately $40 billion outstanding), loans more than sixty days late reached 5.45%, up from 4.7% a year earlier and “eclipsing rates recorded earlier this year and 41 basis points higher than during the recent recession,” Fitch stated in its monthly report.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.