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Tag Archives: S&P

Mortgage Default Rate Declines For First Time in Seven Months

According to February's first mortgage default index, the rate ticked downward to 1.00 percent in February from 1.02 percent in January after seven months of increases since falling to its lowest level of 0.88 in July 2014. February's first mortgage default rate represents a decline of 23 basis points from February 2014 (1.23 percent). The rate recently experienced its largest increase in the previous 15 months (five basis points) from November to December 2014.

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S&P May be Reopening Settlement Talks with DOJ

A year-and-a-half-long legal case between the U.S. Department of Justice and Standard & Poor’s Rating Services could be over soon. According to the Wall Street Journal, S&P is preparing to resume talks with the DOJ in an effort to settle a $5 billion lawsuit filed by the government in February 2013.

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Default Rates Decline Again in May

Short Sales

The national default rate declined again from the previous month, according to data through May 2014 released by the S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices. The indices offer a comprehensive measure of changes in consumer credit defaults.

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Credit Default Rates Fall Again in March

Data through March 2014 found that national credit default rates declined for the month, according to the S&P/Experian Consumer Credit Default Indices. All five national indices (composite, first mortgage, second mortgage, bank card, and auto loans) showed a decline for the second consecutive month.

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Rushmore Approved as Freddie Mac Seller/Servicer

Rushmore Loan Management Services LLC made announcements of two positive corporate developments Thursday. Rushmore has received approval to act as a Freddie Mac seller/servicer--a nod the company says will significantly expand its business. In addition, Standard & Poor's assigned an average rating to Rushmore as a residential special servicer and residential primary servicer, ranking the company's management and operations as above average.

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First Mortgage Default Rate Inches Up in July

National default rates inched up in July, with first mortgages showing a slight increase, according to the S&P/Experian Consumer Credit Default Indices. For the first time this year, the default rate for first mortgages increased. In July, the default rate was 1.25 percent, up from 1.23 percent in June. The first mortgage default rate though is still down compared to July 2012, when it was 1.41 percent.

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