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Tag Archives: Delinquency Rate

TransUnion: Mortgage Delinquencies Drop for Second Straight Quarter

The national mortgage delinquency rate - measuring the ratio of borrowers 60 or more days behind on their payments - fell again in the second quarter of 2010, suggesting credit conditions in the housing sector have begun to stabilize, according to TransUnion. Data released Tuesday by the credit bureau show that the national delinquency rate dropped to 6.67 percent in Q2. That's down from 6.77 percent during the previous three-month period, which marked the first time in 12 quarters that TransUnion recorded a decline in mortgage delinquencies.

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Fannie’s Losses Narrow to $1.2B, with Taxpayers on the Hook for Less

Fannie Mae's second-quarter losses narrowed considerably from the demoralizing financials of the past several years that found the nation's largest mortgage financier underwater itself in a sea of red ink. The GSE reported Thursday that it lost $1.2 billion last quarter. It was Fannie's smallest loss in more than three years. The company also said it needs far less money from taxpayers this quarter - $1.5 billion. The company acquired 68,838 single-family REOs through foreclosure in Q2, and its seriously delinquent rate dropped to 4.99 percent.

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Million-Dollar Mortgages Performing in Line with Smaller Loans: Report

Mortgage borrowers with balances over $1 million are faring just as poorly, but not worse, than borrowers with lower balances, according to Moody's Investors Service. Based on the agency's data of securitized private-label mortgages, as of June 2010, mortgages originated from 2005 to 2008 are 60 or more days delinquent at the same rate, 28 percent, for both the average borrower and borrowers with million-dollar-plus mortgages. Moody's says the data also contradicts conventional wisdom that strategic defaults are more prevalent among rich borrowers.

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CMBS Delinquencies Moderate as Servicers Step Up Modifications: Trepp

The number of modifications on commercial real estate loans held in securities trusts has accelerated dramatically in 2010, according to Trepp LLC. So far in 2010, loan modifications have already surpassed the total number of mods done in 2008 and 2009 combined, Trepp reports. At this pace, 2010 modifications are set to triple those completed last year, and with servicers stepping up resolutions of troubled commercial loans, increases in delinquency numbers are beginning to moderate.

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Fannie Mae’s Serious Delinquency Rate Falls for Third Straight Month

The percentage of loans 90 or more days past due held by the nation's largest mortgage company has declined for three months in a row. According to a new monthly summary report released by Fannie Mae on Friday, the GSE's single-family serious delinquency rate dropped 15 basis points to 5.15 percent in May. That follows a decline of 17 basis points in April and 12 basis points in March. The March reading was the first time Fannie's delinquency rate had dropped since March 2007, when it was a mere 0.62 percent.

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Freddie Mac’s Delinquency Rate Falls Below 4%

The number of past due home loans guaranteed by Freddie Mac has fallen below the 4 percent threshold. The milestone is a sign that the performance of the GSEs' loan portfolio is improving and loss mitigation efforts are having an impact, considering Freddie endured three long years of delinquency increases until March of this year. The company's latest report shows that the number of single-family mortgages at least three months past due or in foreclosure stood at 3.96 percent at the end of June. That's down from a high of 4.20 percent as recently as February.

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