Tag Archives: default

A new report found that delinquency rates are consistently dropping, except in areas that rely on oil prices for their economies. See what areas are being impacted.

Brandon, Florida based Cyprexx Services, LLC has launched new, more cost effective sheet sizes of its InvisiBoard polycarbonate in addition to providing select InvisiBoard products on Amazon.

Altisource recently released its inaugural Default Servicing Survey, which pooled over 200 servicing professionals, which showed that industry experts believed that FHA and VA loans in their respective portfolios would increase in the coming year.

Fannie Mae and Freddie Mac backed mortgages are hitting a 15-year high, according to a recent report. However, this is one of the few rates that increased—and that’s a good thing.

Overall default risk is up, according to an index released on Tuesday. Up 25 points over fall 2016’s numbers, risk of default is rising that’s to higher mortgage rates and tightening monetary conditions. The risk will likely continue its upward climb too, especially if the Federal Reserve raises rates again—as expected—later on in the year. According to the report, investors and lenders can expect today’s loans to hold a 6 percent higher risk of default than loans of the 1990s.

On Thursday, VantageScore Solutions, LLC and TransUnion released the VantageScore Default Risk Index (DRI) for Q4 2016. According to the DRI, when it comes to default risk, mortgages pose a lower threat than auto loans, student loans, and bankcards with the DRI for these four categories came in at 85.4 (mortgage) , 89.3 (auto), 90.0 (student loans), and 96.8 (bankcards) respectively. Despite the lower default risk compared to other debt categories, mortgage risk is up quarter-over-quarter.

New data shows that 30,000 permanent loan modifications and 95,000 non-foreclosure solutions were completed for the month of February. The month saw only about 22,000 foreclosure sales. Around 90 percent of families that had a rate-resetting loan modification for the month avoided foreclosure.

mortgage default rates are up one basis point from February to .75 percent, a one-year high. Year-over-year, the mortgage default rate dropped from .77 percent, while the bank card default rate increased year over year. Of the five major cities covered by the S&P/Experian Consumer Credit Default Indices (New York, Chicago, Dallas, Los Angeles, and Miami), New York and Chicago posted month-over-month increases in the Index level, while Dallas, Los Angeles, and Miami posted month-over-month decreases in defaults.

Since 2009, delinquencies have dropped from 6.1 million to 2.7 million, and the amount of homeowners underwater dropped from 10.2 million to around 3 million.

Many private student loan borrowers are being driven into default due to a lack of information and affordable loan modification options, according to a report released Thursday by the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman.