Skip to main content

First-Lien Delinquencies See Greatest Monthly Upswing Since 2008

Phil Hall
May 24, 2017
First-lien mortgage delinquencies saw a 12.93 percent spike from March to April

First-lien mortgage delinquencies saw a 12.93 percent spike from March to April, the largest monthly increase since November 2008, according to new data from Black Knight Financial Services. The total U.S. loan delinquency rate measured 4.08 percent last month. On a year-over-year measurement, this delinquency rate fell by 3.58 percent.
 
From March to April, the number of borrowers who were past due on mortgage payments increased by 241,000. However, Black Knight pointed out that April’s delinquency rate increase was “primarily calendar-driven (due to both the month ending on a Sunday and March being the typical calendar-year low) and largely isolated to early-stage delinquencies.”
 
Also in April, there were 52,800 monthly foreclosure starts, down 12.44 percent from March and down 10.05 percent from a year earlier; April’s rate was the lowest level since January 2005. Prepayment speeds fell by nearly 11 percent from March and plummeted by 31 percent from April 2016.

 
Published
May 24, 2017
Planet Home Lending Reports Q3 Gains In Asset Management, Servicing And Originations

The Planet Home Financial Group, LLC, parent company of Planet Home Lending, LLC and Planet Management Group, LLC reported steady growth across its servicing, correspondent and private-client channels.

Industry News
Oct 26, 2021
CFPB, DOJ And OCC Hit Trustmark National Bank For 'Deliberate' Redlining

The Consumer Financial Protection Bureau and U.S. Department of Justice, in conjunction with the Office of the Comptroller of the Currency are taking action against Trustmark National Bank for alleged redlining violations.

Industry News
Oct 25, 2021
Reports: Evergrande Group Makes $83.5M Interest Payment

Faltering Chinese development firm fends off default with payment to international bondholders.

Industry News
Oct 22, 2021
FAR Establishes Borrower Engagement Division

Finance of America Reverse LLC announced its formally established Borrower Engagement Division.

Industry News
Oct 22, 2021
Automating Appraisals No Panacea For Removing Bias

With racism 'grandfathered in' to housing prices in minority neighborhoods, a solution to 'unconscious bias' is difficult to find

Industry News
Oct 21, 2021
Reports: Evergrande Group Arranges Bond Extension

Reuters, REDD say company's billionaire chairman has agreed to provide additional collateral to ensure a construction project tied to a $260M bond is completed.

Industry News
Oct 21, 2021