twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to 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

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

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

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

Press Releases
Reports and announcements from

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.

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

Mortgage News


Mortgage News

HOT Topics









site map
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.

Mortgage Delinquency at 5-Year Low

Q4 60-day rate down 24 BPS from Q3

Feb. 12, 2014

By Mortgage Daily staff

Mortgage delinquency has fallen eight quarters in a row to the lowest level in half a decade. Yet, the rate still remains elevated by historical standards.

Past-due payments of at least 60 days on all U.S. residential loans finished the fourth-quarter 2013 at 3.85 percent, TransUnion reported.

The rate reflected loan performance data gathered from TransUnion's proprietary Industry Insights Report on nearly 53 million mortgages. Numbers are drawn from anonymized credit data on "virtually every credit-active consumer in the United States."

Home loan performance continued to improve from the third quarter, when the rate had already fallen 23 basis points from the prior three-month period to 4.09 percent.

The 60-day rate has fallen 123 BPS from a year earlier. The fourth-quarter 2012 level was revised down 11 BPS from the original report.

In fact, the past-due rate has improved each quarter since the fourth-quarter 2011, when the rates was 6.01 percent.

In addition, the rate was the lowest it's been since the third-quarter 2008 rate of 3.96 percent.

TransUnion forecasts a 3.70 percent rate by the end of March.

"TransUnion's forecast is based on various economic assumptions, such as gross state product, consumer sentiment, unemployment rates, real personal income, and real estate values," the report said. "The forecast would change if there are unanticipated shocks to the economy affecting recovery in the housing market or if home prices begin to depreciate once again."

TransUnion Head of Financial Services Steve Chaouki explained in the report that the higher credit quality of recent vintages is being accompanied by delinquency rates similar to those seven to 10 years ago. As older vintages exit the system, mortgage delinquency will decline even further.

But Chaouki cautioned that despite the positive trend, delinquency still continues to be twice as high as levels observed prior to the housing bubble.

"The housing market also still shows some volatility, with both housing prices and originations dropping in the latter part of 2013 after experiencing improvements in the first part of the year," Chaouki said.

New Jersey and New York were the only two states that did not have double-digit percentage declines in their respective delinquency rates.

Among five of the biggest states, Florida's 8.18 percent was the highest.

Next was 5.67 percent in New York and 4.17 percent in Illinois.

Arizona had the biggest decline, falling to 3.14 percent at the end of last year from 5.11 percent at the end of 2012.

next story

back to current headlines

Logout forgot

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


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