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Tag Archives: Experian

First Mortgage Default Rate Falls in January

Consumer credit default rates improved at the start of 2013, with noteworthy progress for first mortgage defaults, according to the S&P/Experian Consumer Credit Default Indices. The default rate for first mortgages dropped to 1.58 percent, down from 1.68 percent in December 2012 and 2.08 percent in January 2012. The second mortgage default rate was unchanged from December at 0.69 percent, but down sharply from 1.30 percent in January 2012.

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New Lows for First and Second Mortgage Default Rates: S&P/Experian

The default rate for first mortgages now stands at a post-recession low, and the default rate for second mortgages is at the lowest level in its more than 8-year history, according to data from the S&P/Experian Consumer Credit Default Indices. The first mortgage default rate fell to 1.36 percent in September, down from 1.40 percent in August and 1.99 percent in September 2011. The second mortgage default rate bottomed to 0.64 percent, down from 0.72 percent in August 2012 and 1.32 percent a year ago.

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Mortgage Defaults Down in June, Index Reveals

An already positive trend in mortgage defaults continued through the month of June, according to data released Tuesday in the S&P/Experian Consumer Credit Default Indices. The data shows that most loan types-including bank card and first and second mortgage loans-saw a decrease in default rates, many of them for the sixth consecutive month. Four loan types posted their lowest rates since the end of the recent recession.

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Agencies See Measurable Improvements in Consumer Default Rates

Data through March 2012, released this week by S&P Indices and Experian showed that, with the exception of bank cards, all consumer loan types saw a decrease in default rates for the third consecutive month and in March, posted their lowest rates since the end of the recent economic crisis. The first mortgage default rate decreased to 1.88 percent in March, according to the agencies' report. Second mortgage defaults declined to 1.03 percent over the same period.

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S&P/Experian: Default Rates Rise for First and Second Mortgages

Default rates for both first and second mortgages increased during the month of September, according to the S&P/Experian Consumer Credit Default Indices. First mortgage delinquencies rose from 1.92 percent in August to 1.99 percent last month. Second mortgages increased from 1.27 percent to 1.32 percent. Both rates, however, are lower than their levels one year ago when the agencies cited 3.02 percent of first mortgages as delinquent and 2.14 percent of second mortgages were reported delinquent.

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S&P/Experian: Default Rates Decline Monthly and Annually

Default rates on both first and second mortgages declined in July, according to the S&P/Experian Consumer Credit Default Indices. Second mortgage defaults decreased from 1.4 percent in June to 1.25 percent. The first mortgage default rate for the month of July was 1.93 percent, down from 2.02 percent the previous month. Both measurements also declined from a year earlier. S&P says July's data support the downward trend the company has observed over the past two years.

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Mortgage Delinquencies Have Risen 25% Since Pre-Recession

Mortgage delinquencies remain elevated while other aspects of the consumer credit picture, such as bankcard performance, are improving, according to a new report from Experian. The credit bureau says instances of 60-day mortgage delinquencies have risen by 25 percent from 2007, prior to the recession, while 60-day credit card delinquencies have decreased 20 percent since that time. Portland shows the greatest increase in missed mortgage payments, almost double since 2007.

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Default Indices from S&P and Experian Signal Improving Credit Quality

Default rates on first and second mortgages dropped between May and June, and both measurements are down sharply from year-ago readings, according to S&P Indices and Experian. Their monthly assessment shows the default rate on first mortgages fell 7 basis points month-to-month and is 125 basis points below June 2010. Second-mortgage defaults slipped 2 and 101 basis points for the month and year, respectively. The results are based on consumer credit data from 11,500 banks and mortgage companies.

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Market ‘Snapshot’ Reveals Decline in Strategic Defaults

The phenomenon of strategic default has become a growing concern within the industry, but a new ""Market Insight Snapshot"" released by Experian Thursday suggests the percentage of mortgage defaults involving borrowers who decided to simply throw in the towel is trending downward. Since strategic defaults hit 20 percent of all mortgages 60-plus days delinquent in the fourth quarter of 2008, they've come in below that mark ever since, according to the study. By mid-2010, the share of intentional walk-aways was 17 percent.

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