Tag Archives: Delinquency

Latest estimates from the MBA find that 115,000 homeowners are now in forbearance plans nationwide, as mortgage servicers have provided relief to approximately 8.1 million borrowers since March 2020.

Michael Krein, President of the National REO Brokers Association, explains how things have changed dramatically in the way the default and foreclosure world operates.

According to the latest Loan Performance Insights Report, 16 metro areas posted slight annual delinquency upticks. With hurricane season in full swing, some areas of the U.S. could see typical seasonal delinquencies rise later this year and into 2024.

The OCC has issued its findings on the performance of first-lien mortgages in the federal banking system during Q2, as 97.3% of mortgages were found current and performing at the end of the quarter, compared to 97.6% in Q1.

Can modern building codes protect homeowners and insurance companies from physical and financial risk after a disaster? Click through to learn more.

After the addition of nearly four million jobs nationwide in the last year, CoreLogic reports that a solid job market continues to help borrowers pay their mortgages on time, pushing the overall mortgage delinquency rate to a historic low in May.

According to CoreLogic, the nationwide delinquency rate dropped to 1.1%, the lowest level reported in 23 years, as the unemployment rate remains near an all-time low.

Early-stage delinquencies (borrowers 30 days late) bore the brunt of the rise, increasing by 200K (+25%), which matches the impact of previous similar calendar-related events.

“The mortgage delinquency rate fell to its lowest level for any first quarter since MBA’s survey began in 1979 and was the second lowest quarterly rate overall, just 11 basis points above the survey low in the third quarter of 2022,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.

“February’s early-stage delinquency rate was historically low and primarily driven by a strong job market,” said Molly Boesel, Principal Economist at CoreLogic. “However, the possibility of a recession that would raise the U.S. unemployment rate could slightly erode the current strong mortgage performance situation in the coming months.”