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delinquencies

Mortgage Delinquencies Drop in Q3

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The delinquency rate for mortgage loans on one- to four-unit residential properties decreased to a seasonally adjusted rate of 5.85 percent of all loans outstanding at the end of the third quarter of 2014. The delinquency rate decreased for the sixth consecutive quarter and reached the lowest level since the fourth quarter of 2007. The delinquency rate decreased 19 basisClick to continue

Commercial/Multifamily Delinquencies Drop in Q4

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Delinquency rates for commercial and multifamily mortgage loans continued to decline in the fourth quarter of 2013, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report. During the fourth quarter of 2013, the 60+ day delinquency rate for commercial and multifamily mortgages held in life company portfolios decreased 0.01 percentage points to 0.05 percent.  The 60+ day delinquency rate for multifamily loans held or insured by Freddie Mac increased 0.04 percentage points to 0.09 percent.  The 60+ day delinquency rate for multifamily loaClick to continue

Q4 National Delinquency Rate Drops to 6.39 Percent

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The delinquency rate for mortgage loans on one- to-four-unit residential properties decreased to a seasonally adjusted rate of 6.39 percent of all loans outstanding at the end of the fourth quarter of 2013, the lowest level since the first quarter of 2008. The delinquency rate decreased two basis points from the previous quarter, and 70 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.Click to continue

Delinquencies Nearing Pre-Housing Crisis Levels

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The Data and Analytics division of Black Knight Financial Services (formerly the LPS Data & Analytics division) released its year-end Mortgage Monitor Report, looking at data as of the end of December 2013. Black Knight found that 2013 marked the fourth consecutive year of significant, sustained improvement in the nation’s inventory of delinquent mortgages, and the second consecutive year of significant improvement for those in foreclosure.Click to continue

Permanent Loan Mods Surpass the 6.6 Million Mark Nationwide

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HOPE NOW released its July 2013 loan modification data which found that an estimated 63,000 homeowners received permanent, affordable loan modifications from mortgage servicers during the month. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP). The total number of loan modifications for 2013 currently stands at approximately 519,000. This compares to approximately 378,000 foreclosure sales reported for the year to date.Click to continue

July Delinquency Rate Drops Nearly Nine Percent Year-Over-Year

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Lender Processing Services Inc. (LPS) has reported the following "first look" at July 2013 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market. Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) stood at 6.41 percent for the month of July, with a month-over-month change in delinquency rate of -3.96 percent, and year-over-year change in delinquency rate of -8.76 percent.Click to continue

Eminent Domain Scrutiny Begins to Heat Up in California Suburb

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In California, eminent domain has become part and parcel in the city of Richmond, suburb in the San Francisco Bay area. Recently, a group of the nation’s largest bond investors filed suit in attempt to block eminent domain plans executed by city officials.Click to continue

Foreclosures and Delinquencies Rising in the Northeast

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“For most of the country, delinquencies and foreclosures have returned to more normal historical levels. Most states are at or only slightly above longer-term averages and some of the worst-hit states are showing improvement,” said Mortgage Bankers Association (MBA) Chief Economist and SVP of Research and Economics Jay Brinkmann. “For example, while 10 percent of the mortgages in Florida are somewhere in the process of foreclosure, this is down considerably from the high of 14.5 percent two years ago.”Click to continue

Equifax: More Homeowners Transitioning Into Positive Equity

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According to the latest Equifax National Consumer Credit Trends Report, the total balance of severely delinquent first mortgages (90 days past due or in foreclosure) in June 2013 is $325 billion, a five-year low and a decrease of more than 27 percent from same time a year ago ($450 billion). The total balance of first-mortgage loans that completed the foreclosure process and transitioned to bank-owned property or other severe derogatory status decreased more than 19 percent, from $16.7 billion in June 2012 to $13.5 billion in June 2013. This is the lowest level for June since 2007.Click to continue