Market Studies

The number of individuals who had a foreclosure notation added to their credit reports in Q1 was 112,000, the lowest total since 1999, while the number of consumers who had bankruptcies added to their credit reports dropped by 4 percent from Q4 to Q1 down to the lowest point since 2006.

The study also shows that both, consumers with student loans and without loans were affected by the changes in the economy and shifts in credit access. Consumers ages 18 to 29 with credit obligations like mortgages, credit card, and auto loans declined significantly between 2005 and 2012.

Millennials were found to have to have lower credit scores in 80 percent of the categories that make up traditional credit scores such as mortgage loans, auto loans, credit cards, and other installment loan payment histories because many young adults simply do not have any credit history with these financial products, with the exception of student loans.

Knotek states in his report that despite recent signs pointing to an imminent increase in worker compensation, factors such as slack in the labor market, bargaining power, worker productivity, inflation, and many other variables and factors, make wage growth impossible to accurately forecast.

Where the effective tax rate on the banking sector is concerned, the increase of 2 percentage points in the leverage ratio of the banking sector, from 7.5 percent to 9.5 percent) in the post-crisis years of 2008 to 2014 can be transformed into an increase in the effective tax rate for the banking sector, according to Holtz-Eakin.

March's already low reported job gains total of 126,000 was revised even further lower in April's report, down to 85,000. Combined with February's job gains revision from 264,000 to 266,000 in April, employment gains in February and March combined were 39,000 lower than originally reported. Job gains have averaged 191,000 per month over the past three months.

Consumer sentiment toward the economy took a slight step backward in April, with the percentage of respondents who said the economy is on the right track fell by one percentage point down to 42 percent. Meanwhile, the share who said the economy is on the wrong track increased by one percentage point up to 49 percent.

Reputational risk "remains high with regard to any and all foreclosures," Schwartz said. The crisis gave regulators the ammunition they needed to create loan servicing-specific legislation and policies, which resulted in the straining of the execution of collection and default services for many servicers, whereas those practices had worked well for them prior to the crisis.

Despite the gains for the housing market this spring, the Census Bureau reported that homeownership nationwide had fallen to 63.7 percent in Q1, its lowest level since the 1990s, with ongoing declines happening primarily among households under age 45.

Delinquencies remained low among 15 single-family rental securitizations for March, according to data reported by Morningstar Credit Ratings in a recent report titled "Single-Family Research: Performance Summary Covering All Morningstar Rated Securitizations."