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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.

Serious Delinquency Rises in December

6.58% 90-day delinquency rate

Jan. 20, 2012

By staff

It's the second recent report that indicated serious delinquency on residential loans has deteriorated.

Home loans that were at least three months past-due during December accounted for around 6.58 percent of all residential loans.

Delinquency, which is based on mortgage balances, worsened from 6.44 percent in November.

The statistics were included as part of the Household Credit Report from Moody's Analytics and Equifax.

The 90-day rate was better, however, than in December 2010, when it stood at 7.36 percent.

A report Tuesday from Standard & Poor's Ratings Service and Experian indicated that on just first mortgages, the 90-day rate climbed to 2.19 percent in December from the prior month's 2.17 percent.

Moody's noted in today's report that a runoff is in process on outstanding loans.

Outstanding balances on mortgage loans continue to fall as servicers pull loans through the foreclosure process," the report stated.

Moody's went on to note that outstanding balances have fallen by around $30 billion per month and added that servicers are dealing with an overhang of distressed properties.

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