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Tag Archives: HELOC

Non-current Loans Lowest in 11 Years

Non-current inventory is at an 11-year low, falling below historical norms for the fourth consecutive month. The states with the highest percentage of non-current loans were largely in the South, including Mississippi, Louisiana, Alabama, New Jersey, and West Virginia. States with the lowest share were in the Midwest and Western U.S., including Idaho, Montana, Minnesota, North Dakota, and Colorado.

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HELOC Holders May Be In for Payment Shock When Loans Reset

HELOC

Looking ahead, things don't get much better, according to Black Knight Financial Services. Beyond the next three years, Black Knight Financial Services predicts still-high payment increases as the next phase of HELOCs resets. Borrowers with HELOCs scheduled to reset in 2019 are using an average of about 40 percent of their available credit and will incur payment increases of about $200 per month based on their current rates.

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HARP-Eligible Loans Decline in 2013

The Data and Analytics Division of Black Knight Financial Services released its Mortgage Monitor Report, which looked at data as of the end of January, 2014. The report found that Home Affordable Refinance Program (HARP) eligible loans have shrunk throughout the year, noting "a general decline in the overall 'refinancible' population of both traditional and HARP-eligible borrowers with associated loan origination volumes dropping in both categories as well."

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As Borrowers Emerge from Underwater, Cloud of Problem HELOCs Rises

The percentage of homeowners who owe more on their mortgages than their homes are worth has declined to less than 12 percent as of the third quarter of this year, according to Lender Processing Services' (LPS) Mortgage Monitor report. While the increasing number of homeowners rising above water is good news for the market, LPS detects some tumultuous seas ahead as a cloud of problem home equity loans forms on the horizon.

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Serious Delinquencies Hit Five-Year Milestone

Mortgage delinquencies are on the decline, according to a report from Equifax. Home finance write-offs so far this year total $96.3 billion, down 22 percent from last year. The balance of mortgages in severe delinquency--those 90 or more days past due--is less than $300 million for the first time in five years, and Equifax's Amy Crews Cutts says current trends suggest we'll be at pre-recession levels of severe delinquencies by the end of 2014.

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