By Dennis Norman, on January 18th, 2010
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
[...]
By Dennis Norman, on December 10th, 2009
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 from 13.34 [...]
By Dennis Norman, on November 20th, 2009
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 third [...]
By Charles Hugh Smith, on October 26th, 2009
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 agencies are setting [...]
By Dennis Norman, on August 22nd, 2009
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 cloud lurking [...]
By Dennis Norman, on August 19th, 2009
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 borrowers 60 or [...]
By Dennis Norman, on June 30th, 2009
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 increase during the [...]
By Dennis Norman, on April 10th, 2009
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.
There are two [...]
By Dennis Norman, on April 5th, 2009
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 the end [...]
By Dennis Norman, on December 8th, 2008
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 Association quarterly [...]
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