Skip to main content

Five Percent of Homeowners Are Behind on Their Mortgage Payments

Phil Hall
May 09, 2017
A total of 4.1 percent of mortgages were in some stage of delinquency during December 2018, according to data from CoreLogic

Five percent of mortgages were delinquent by 30 days or more during February, according to new data from CoreLogic. This represents a 0.5 percent drop from the 5.5 percent overall delinquency rate in February 2016.
As of February, the foreclosure inventory rate was 0.8 percent, down from 1.1 percent one year earlier, while the serious delinquency rate—defined as 90 days or more past due including loans in foreclosure—was 2.2 percent, down from 2.8 percent in February 2016. However, early-stage delinquencies, defined as 30-59 days past due, were at 2.14 percent in February, up from 2.08 percent one year before. And the share of mortgages that transitioned from current to 30-days past due was one percent in February, up from 0.8 percent in February 2016.
"While national-level delinquency rates declined, the serious delinquency rate remained elevated in many mid-Atlantic and northeast states led by New York and New Jersey," said Frank Martell, president and CEO of CoreLogic. "February-to-February increases in both 30-day-or-more delinquency rates and in serious delinquency rates were also observed in Alaska, Louisiana and Wyoming relating to the impact of the downturn in the global oil market."

May 09, 2017
UWM Adds 'Control Your Price' To 'Game On' Pricing

New program provides 125 basis points in price enhancements for loan orignators.

Industry News
Jan 11, 2023
Rocket Pro TPO Relieves Brokers Of Credit Fee Burden

Will provided free credit reports to brokers if they get their loan closed with the Detroit lender.

Industry News
Jan 10, 2023
Former Employees Sue Rocket Mortgage Over OT Pay

Claim company failed to properly calculate & pay OT for working beyond 40 hours a week.

Jan 09, 2023
Judge Grants UWM Partial Win In Ultimatum Lawsuit

AML’s declaration that the ultimatum violated antitrust law survived.

Industry News
Jan 04, 2023
A&D Mortgage Launches Temporary Rate Buydowns

Offering 3-2-1 and 2-1 buydown options.

Industry News
Jan 04, 2023
Zillow: 2M Homes No Longer Require A Jumbo Loan

This is the result of FHA's update to the baseline conforming loan limit in high-cost areas topping $1 million.

Industry News
Jan 04, 2023