Home-Related Delinquencies Mostly Up in Q4 2016 – NMP Skip to main content

Home-Related Delinquencies Mostly Up in Q4 2016

Phil Hall
Apr 06, 2017
Delinquencies on closed-end loans related to housing rose during the fourth quarter of 2016, according to the latest American Bankers Association’s (ABA) Consumer Credit Delinquency Bulletin

Delinquencies on closed-end loans related to housing rose during the fourth quarter of 2016, according to the latest American Bankers Association’s (ABA) Consumer Credit Delinquency Bulletin.
 
Home equity loan delinquencies during the fourth quarter rose from 2.59 percent to 2.61 percent, while mobile home delinquencies increased from 3.11 percent to 4.07 percent and property improvement loan delinquencies inched up from 0.94 percent to 0.98 percent. The ABA’s composite ratio for all closed-end loans in the fourth quarter increased from 1.41 percent to 1.51 percent. However, in the open-end loan category, home equity lines of credit delinquencies fell from 1.16 percent to 1.06 percent during this period.
 
However, the ABA is not issuing a warning on a weakening economy “Across all categories, delinquency levels have remained relatively low due to solid job growth, rising income and consumers’ continued efforts to manage their finances carefully,” said James Chessen, the trade group’s chief economist. “As the housing market continues to improve, so do home-related delinquencies. With home prices on the rise and borrowers better positioned to honor their debts, we expect that home-related delinquencies will continue their gradual downward trajectory.”
Delinquencies on closed-end loans related to housing rose during the fourth quarter of 2016, according to the latest American Bankers Association’s (ABA) Consumer Credit Delinquency Bulletin

 
Published
Apr 06, 2017
Manufactured Housing: The New Affordable Alternative

While the housing market is grappling with widespread affordability and supply, manufactured homes are gaining ground as a new alternative. 

Industry News
Dec 03, 2021
Angel Oak Home Loans Opens 3 New Branches

Continues expansion in Western U.S. with new branches in California, Nevada & Utah.

Industry News
Dec 02, 2021
Open Mortgage Names New President

Joe Stephenson, formerly of American Advisors Group, to lead daily operations.

Industry News
Dec 01, 2021
Homepoint Expands Refinance Program Offerings

Now offers Freddie Mac’s new refinance option, Refi Possible, making it easier for many homeowners with a Freddie Mac-owned mortgage to reduce their interest rate.

Industry News
Nov 30, 2021
Non-QM Lender Deephaven Hires Business Development VP

Dallas-based Tim Fisher charged with growing Deephaven’s correspondent business In Texas and surrounding states

Industry News
Nov 30, 2021
Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus. 

Industry News
Nov 29, 2021