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Tag Archives: Delinquency Rate

Fannie Mae Sets Another Record in Q1, Will Pay $59.4B to Treasury

In the first quarter of this year, the mortgage giant reported pre-tax income of $8.1 billion, the largest in its history. Fannie Mae attributed the improvement to ""strong credit results driven by an increase in home prices, including higher average sales prices on Fannie Mae-owned properties, a decline in the number of delinquent loans, and the company's resolution agreement with Bank of America."" The GSE also announced it will pay $59.4 billion to Treasury.

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TransUnion: Delinquency Rate Sees Biggest Improvement Since 1992

TransUnion reported the national mortgage delinquency rate recorded its biggest improvement since the credit bureau began keeping track in 1992. In the first quarter of this year, the mortgage delinquency rate, which includes 60-plus delinquencies, stood at 4.56 percent. The figure represents a 21 percent decline from a year ago and a 12 percent decrease from the fourth quarter of last year. In addition to the improvement on a national level, all 50 states plus Washington D.C. saw their mortgage delinquency rates fall over the last year.

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Freddie Mac Records 2nd Largest Profit in Q1

Freddie Mac's first-quarter earnings came in slightly ahead of last year's final quarter, the company revealed in its quarterly filing. First-quarter net income at Freddie Mac was $4.6 billion, barely above the $4.5 billion recorded in Q4 2012 but well above the $577 million in last year's first quarter--and the second largest in company history.

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LPS: Rate of New Problem Loans Approaching Pre-Crisis Levels

The rate of new loans that rolled into serious delinquency fell below 1 percent for the first time since 2007, Lender Processing Services (LPS) reported Monday. The new problem loan rate--defined as seriously delinquent mortgages that were current six months ago--inched down toward pre-crisis levels to 0.84 percent in March. The new problem loan rate averaged 0.55 percent from 2000 to 2004. As expected, when categorizing borrowers by equity position, LPS found borrowers with higher levels of negative equity tended to have higher new problem loan rates.

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Fannie Mae Releases Credit Performance Data for Over 18M Mortgages

Fannie Mae made available loan-level credit performance data for single-family mortgages delivered to the GSE from January 1, 2000 to March 31, 2012. The release of the new data marks a step toward greater transparency. Through the data, investors can model the credit performance of Fannie Mae loans and analyze potential risk sharing transactions. In a statement, FHFA applauded Fannie Mae's release, explaining it ""represents an important step toward returning private capital to the mortgage market.""

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Redfin: 45% of Sellers Say Now Is a Good Time to Enter Market

After showing some reluctance at the beginning of the first quarter, homeowners polled for Redfin's second-quarter Real-Time Seller Survey seem far more interested in entering the market. According to responses collected by Redfin, 45 percent of sellers believe now is a good time to sell, up from just 22 percent in the first quarter and 15 percent in last year's fourth quarter.

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Cumulative CMBS Default Rate Rises in Q1: Fitch

Fitch Ratings found cumulative U.S. CMBS defaults moved higher in the first quarter as the office sector struggled. The U.S. CMBS cumulative default rate for fixed-rate CMBS rose to 13.6 percent in Q1 2013, up 18 basis points from the previous quarter, according to the rating agency.

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Non-Current Inventory Hits 5-Year Low, Slips Below 5M Mark

The total number of outstanding mortgages in the nation fell below the 5 million mark for the first time since 2008, according to data from Lender Processing Services. In March, non-current loans totaled 4,997,000, down from 5,104,000 in February. The figure for non-current loans includes 3,308,000 million properties past due 30 days or more but not in foreclosure, as well as 1,689,000 properties sitting in foreclosure inventory.

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Equifax: Home Finance Write-Offs Down to 5-Year Low

Home finance balances written off in the first quarter fell to a five-year low, according to Equifax's National Consumer Credit Trends report for March. The balance for home finance write-offs, which includes loans that completed the foreclosure process, transitioned into REO status, entered bankruptcy, or were charged off by the lender, decreased to $43.1 billion in the first quarter of this year. The balance represents a 22 percent decline from $55.4 billion in Q1 2012.

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National Mortgage Default Rates Fall in March

Mortgage default rates moved lower along with the overall national default rate in March, according to the Consumer Credit Default Indices released by S&P Dow Jones Indices and Experian. The first mortgage default rate fell to 1.41 percent last month from 1.48 percent in February and 1.88 percent from March 2012. The second mortgage default rate was down to 0.69 percent, a monthly and yearly decrease from 0.71 percent and 1.03 percent, respectively.

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