Skip to main content

Mortgage Delinquency Landscape Continues to Shrink

Aug 08, 2017
The serious delinquency rate for mortgage loans declined from 1.67 percent in the first quarter to 1.37 percent at the end of the second quarter, according to new data from TransUnion

A new data report issued by CoreLogic has determined that 4.5 percent of mortgages were in some stage of delinquency during May, down 0.8 percent on a year-over-year measurement. The foreclosure rate in May was 0.7 percent, down from one percent in May 2016, while the serious delinquency rate—defined as 90 days or more past due including loans in foreclosure—was two percent, unchanged from April and down from 2.6 percent one year earlier; the serious delinquency rate is the lowest since November 2007, when it was also two percent.  
 
The rate for early-stage delinquencies—defined by CoreLogic 30 to 59 days past due—was 1.9 percent in May, a two percent drop from one year earlier. And the share of mortgages that were 60 to 89 days past due in May was 0.63 percent, slightly lower than the 0.66 percent share from the previous year.
 
"A prolonged period of relatively tight underwriting criteria has driven delinquencies down to pre-crisis levels across many parts of the country," said Frank Martell, President and CEO of CoreLogic. "As pressure to relax underwriting standards increases, the industry needs to proceed carefully and take progressive, sensible actions that protect hard-fought improvements in mortgage performance."

 
About the author
Published
Aug 08, 2017
Homebuilders Cheer Delay Of Trump Trade War

Canada and Mexico stave off tariffs on billions of dollars of materials crucial to the U.S. homebuilding industry

Feb 04, 2025
OCMBC President Arrested For DUI, Murder

Serene Vernon (Rosenberg) had three prior convictions, per a police report

Feb 02, 2025
Trump Fires CFPB Director Chopra

Chopra posts a letter to X with his final statements

American Heritage Lending Halts Funding Loans In Maryland

AHL suspended the ability to lock new consumer loans in Maryland, effective immediately

Jan 31, 2025
Katie Sweeney Joins Rocket Pro To Lead Broker Strategy, Advocacy

The former AIME chairwoman and CEO asks the broker community, particularly Rocket Pro’s brokers, to trust her. 

Jan 29, 2025
CoreLogic Chief Economist On Witnessing The Insurance Crisis Firsthand

"I could have lost all my equity,” says Selma Hepp, who lives and works on the frontline of housing's biggest challenge in 2025

Jan 20, 2025