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Mortgage loan delinquencies drop to lowest rate since 2009

More good news on the housing market! The national mortgage delinquency rate (borrowers that are 60 or more days past due) declined for the first 3 months of 2012, coming in at 5.78 percent according to a report issued by TransUnion. This is after increases in the delinquency rate in the prior 2 quarters and is the lowest rate since the 1st quarter of 2009. [...]

Mortgage Delinquences Increase in December but are Down over 25 percent from a year ago

Mortgage delinquencies in December increased to 2.24 percent of all mortgages, a slight increase from the month before when delinquencies were at 2.22 percent but a decrease of over 25 percent from a year ago when the rate was 3.01 percent. The mortgage delinquency rate is something I pay close attention to because it is the “leading indicator” of foreclosures and foreclosures and REO’s are one of the major hurdles to a recovery in the housing market. Declining delinquency rates are our first clue that the housing market is headed to a recovery. [...]

Mortgage loan delinquency hits 2 year low; foreclose rate ties highest on record

The Mortgage Bankers Association released the results of it’s National Delinquency Survey for the 4th quarter of 2010 and it shows very mixed results.  On the positive side of things, overall mortgage loan delinquency in the U.S. has dropped to 8.22 percent which is the lowest rate since 4th quarter 2008 when the rate was [...]

Report shows mortgage delinquency ‘Roll Rates’ peaked in summer of 2009; Sign that worst is over?

Dennis Norman

Finally, some more good news about the housing market! TransUnion released a study of mortgage delinquency “roll rates” (when delinquent borrowers move to a more delinquent status, say from 30 days late to 60 days late, then 90 and so on) which showed that mortgage delinquency roll rates peaked in the summer [...]

Mortgage Delinquencies Fall for Second Consecutive Quarter

Dennis Norman

For some time now I’ve been saying the precursor to the housing market recovering is for the mortgage delinquency and foreclosure rates to fall from the present, near-record levels, down to closer to historical norms. The current mortgage loan delinquency report from TransUnion shows that, for the second consecutive quarter, things are [...]

Mortgage Default Rates Improve In June

Dennis Norman

Finally, some good news!

This morning Standard & Poor’s released their S&P/Experian Consumer Credit Default Index for June showing that first-mortgage default rates declined 5 percent from the month before and were down 45.2 percent from a year ago.

I have been saying for a while, we are not going to see [...]

November Foreclosure Rate in U.S. Up 77 Percent from a year ago

Dennis Norman

The foreclosure rate in the U.S. for the month of November, 2009 was 3.09 percent, a 77.6 percent increase from November, 2008 when the rate was 1.74 percent according to a report by First American CoreLogic.

In addition, the report showed that the number of borrowers that are seriously delinquent on their

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Florida predicted to have highest mortgage delinquency rate next year

Mortgage Delinquencies are expected to decrease in many states in 2010; Florida, Arizona, California, New York and Virginia expected to see increases.

Dennis Norman

According to the Annual Consumer Credit Forecasts issued by TransUnion, Florida is expected to have the highest mortgage delinquency rate by the end of next year at 16.86 percent (up [...]

Mortgage delinquencies set new record in third quarter

Unemployment Remains Main Cause of Delinquencies

The second quarter of this year saw mortgage delinquencies reported by the Mortgage Bankers Association hit the highest level since they began keep track of the data almost 40 years ago back in 1972.  Unfortunately that record didn’t stand long and was broken by the mortgage delinquency rate for [...]

Setting Up the Next Leg Down in Housing

Loose lending standards in government-backed mortgages is setting up the next wave of defaults and sharp declines in housing prices.

Charles Hugh Smith, Of Two Minds

Beneath the hype that housing has bottomed is an ugly little scenario: lending standards are still loose and the low-down payment, high-risk loans being guaranteed by government [...]

Mortgage delinquencies reach record levels; Is this the next bubble to burst?

Dennis Norman

All the news lately about the housing market, home sales in particular, has been encouraging and showing signs of stabilization in the real estate market and demonstrating that the real estate market may have seen the worst.  Just when you think you may be through the storm though you see another dark [...]

Mortgage delinquency rates rise

Dennis Norman

TransUnion released the results of its analysis of trends in the mortgage industry for the second quarter of 2009 and the associated impact on the U.S. consumer. 

Part of this report focused on delinquencies on mortgages and the rate of mortgage delinquency.  The report showed that mortgage loan delinquency (the ratio of [...]

Mortgage delinquencies increase again but loan modifications appear to be working

Dennis Norman

By: Dennis Norman

Today the Office of the Comptroller of the Currency (OCC) and the Office of the Thrift Supervision (OTS) released their mortgage metrics report for 1st quarter 2009.   The report covers the performance of 34 million home loans in the US.

The report shows that delinquencies and foreclosures continue to [...]

Making Home Affordable Plan

Dennis Norman

On the same day Congress pass the Economic Recovery Plan in February Treasury Secretary Timothy Geithner introduced the Financial Stability Plan.  Included in this plan is the Making Home Affordable Program in an effort to stabilize the housing market and help 7 to 9 million Americans reduce their mortgage payments to more affordable levels.

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Mortgage delinquenices in 4th quarter 2008 are highest for the year

By: Dennis Norman

Dennis Norman This past week the Office of the Comptroller of the Currency and the Office of Thrift Supervision  issued a joint report on mortgage performance for 4th quarter 2008. The report shows the percentage of performing mortgages for the 4th quarter of 2008 had dropped to 89.95% down from 93.33% at [...]

Foreclosures and delinquencies at record high

By: Dennis Norman

 Last Friday the Mortgage Bankers Association announced that almost 7% of the homeowners in America with a mortgage were behind in payments on their loan which is a record high.  The number of homeowners currently somewhere in the foreclosure process is also at a record high according to the Mortgage Bankers [...]