National Credit Default Rate Drops to 1.55 Percent in February – NMP Skip to main content

National Credit Default Rate Drops to 1.55 Percent in February

NationalMortgageProfessional.com
Mar 19, 2013

Data through February 2013, released by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed a decrease in national default rates during the month. The national composite was 1.55 percent in February, down from 1.63 percent in January. The first mortgage default rate moved down to 1.48 percent in February, from 1.58 percent in January. The bank card rate was 3.37 percent in February vs. 3.41 percent in January. The second mortgage and auto loan default rates increased in February posting 0.71 percent and 1.11 percent; they were marginally up from their respective 0.69 percent and 1.10 percent January levels. “Consumer credit quality remains healthy,” said David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Dow Jones Indices. “The first mortgage and bank card default rates moved down, the second mortgage and auto loans were marginally up in February. All loan types remain below their respective levels a year ago. “These trends are consistent with other economic news – improvements in employment and overall economic activity and continuing gains in housing. Additionally, foreclosure activity continues to decline even though it remains at elevated levels compared to the period before the financial crisis.”
Published
Mar 19, 2013
KBRA Assigns Preliminary Ratings To CSMC 2022-NQM1 Trust

Kroll Bond Rating Agency assigned preliminary ratings to CSMC 2022-NQM1, a $553.7 million non-prime RMBS transaction sponsored by DLJ Mortgage Capital, Inc.

Non-QM
Jan 25, 2022
Hunt Mortgage Appoints Chief Operating Officer

Bindiya Jain previously has served as a vice president at South Shore Bank and at UniBank for Saving. 

Industry News
Jan 25, 2022
Guild Mortgage Names VP Of Marketplace Diversity Strategy

Guild Mortgage named Victoria Garcia DeLuca as the company's vice president of marketplace diversity strategy, which is aimed at increasing homeownership among minorities and underserved markets.

Industry News
Jan 25, 2022
Deephaven Introduces Jumbo-Prime Loans

Non-agency/non-QM Deephaven Mortgage announced a new jumbo-prime loan product, as it looks to help mortgage banks and brokers compete for high-net-worth borrowers.

Jumbo
Jan 25, 2022
Rocket Mortgage Brokers Now Backed By A Crew Of Experts

Every broker partner with the company will have direct access to a small, dedicated team of mortgage experts to answer their loan questions.

Industry News
Jan 24, 2022
Atlanta Real Estate Agent Sentenced For Running Multi-Year Mortgage Fraud Scheme

So far, up to 11 people have plead guilty in Federal Court to the multi-year mortgage fraud scheme, which netted more than $21 million in fraudulent mortgage loans.

Industry News
Jan 24, 2022