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Tag Archives: Mortgage Delinquency Rate

Delinquency Rate Falls Below 3 Percent for First Time Since 2007

According to TransUnion's report, every state reported a year-over-year decline in mortgage delinquency rate, and most metro areas reported a substantial decline. In Miami, the delinquency rate declined by 36.1 percent down to 6.15 percent, and in San Francisco, it fell by 31.1 percent down to 1.32 percent. "It's a positive sign to see double-digit percentage delinquency declines in major markets across the country, as it demonstrates the improvements are widespread -- not just a regional phenomenon," Mellman said.

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Delinquency Rate Drops Below 5 Percent For First Time Since 2007

The delinquency rate (percentage of residential mortgage loans 30 days or more past due but not in foreclosure) dropped to 4.70 percent for March (approximately 2.38 million loans), the first time the rate has been below 5 percent since August 2007. The rate fell by 12 percent since February, the largest month-over-month decline in nine years.

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Foreclosure Starts Retreat After Spiking in January

Foreclosure starts dropped by 15 percent month-over-month in February, down to 79,700, the lowest level since November 2014 and their third lowest total for any month in at least seven years, according to Black Knight. This decline in foreclosure starts came just one month after the number swelled to 94,300 in January, the highest level since December 2013. Analysts concluded at that time that the spike in foreclosure starts for January was likely due to seasonality and not a forming trend.

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Mortgage Delinquency Rate Declines for 12th Straight Quarter

The nation's mortgage delinquency rate for loans 60 days or more overdue continued its steady decline in the fourth quarter of 2014, falling to 3.29 percent – representing a 14 percent drop from the same quarter in 2013 (3.84 percent), according to TransUnion's latest mortgage report.

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REO Liquidations Continue to Top Short Sales for Higher Share of UPB Recovery

REO liquidations have amassed a higher share of gross unpaid balance (UPB) recovery than short sales since the fourth quarter of 2012, reversing a crisis-years trend, according to Black Knight Financial Services' December 2014 Mortgage Monitor released Monday. As of the end of October 2014, REO sales prices accounted for 71 percent of the corresponding loans' defaulted UPBs, compared to 65 percent for short sales prices, largely due to home price appreciation, according to Black Knight.

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