home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Alt-A Deterioration Led by 2007 Vintage

Total delinquency on 2007 Alt-A RMBS 14.56%

August 21, 2008

By MortgageDaily.com staff


Performance on Alternative-A loans behind residential mortgage-backed securities issued in 2005, 2006 and 2007 continues to deteriorate, with the biggest increase occurring with the 2007 vintage.

Total delinquency on 2005 vintage Alt has gone from 11.66 percent in February to 15.65 percent in July, Standard and Poor's Ratings Services said in a report released today. Foreclosures on the 2005 vintage have gone from 3.26 percent to 5.35 percent during that same period. Cumulative losses more than doubled from 0.20 percent to 0.50 percent from February to July.

Deals issued by Impac in 2005 are among the worst performers among the top 10 issuers, with total delinquency of 27.61 percent, foreclosures at 10.29 percent and cumulative losses of 1.23 percent as of July 25.

On the 2006 vintage, total delinquency has gone from 15.17 percent in February to 21.45 percent in July, while foreclosures went from 4.56 percent to 7.60 percent. Cumulative losses climbed from 0.19 to 0.75 percent.

Bear Stearns deals performed the worst among the top 10 issuers in 2006, with total delinquencies of 27.52 percent, foreclosures at 9.39 percent and cumulative losses of 1.24 percent.

Total delinquency on the 2007 vintage has risen from 9.08 percent to 14.56 percent -- more than either of the two prior years. Foreclosures have gone from 2.92 percent in February to 5.46 percent in July. Cumulative losses skyrocketed from 0.03 percent to 0.29 percent.

Among last year's top 10 issuers, RFC had the highest total delinquency, at 18.89 percent, while American Home had the worst foreclosure rate, at 8.52 percent, and the highest cumulative losses, at 1.22 percent.

At 18 months of seasoning, the 2007 vintage is performing the worst since 2002 with total delinquency, trailed by the 2006 vintage and the 2004 vintage.

Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.


Nonprime and Subprime News | Subprime Statistics
Stories about non-QM products. Coverage of subprime, Alt-A and
hard money lending. Home-equity loans and home-equity lines of credit.



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders