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.

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/
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 Performance Continues Improvement

First mortgage 90-day rate down 4 BPS in September

Oct. 16, 2012

By MortgageDaily.com staff


Late payments on home loans fell again last month and now stand at the lowest level since the Great Recession. Junior liens are outperforming first mortgages.

Borrowers who were past-due at least three months on their residential first mortgages accounted for 1.36 percent of all first mortgages in September -- a new post-recession low. The rate hasn't increased in nine months.

The 90-day rate was down from August, when delinquency was 1.40 percent. It was also better than 1.99 percent in September 2011.

The statistics were included in the S&P/Experian Consumer Credit Default Indices.

Second-mortgage delinquency fell to 0.64 percent last month from 0.72 percent. It was the lowest level on record in the eight-year history of the index.

The second-mortgage rate also improved from a year earlier, when 90-day delinquency stood at 1.32 percent.

The composite index, which additionally reflects delinquency on bank cards and auto loans, fell 4 basis points from August to a post-recession low of 1.46 percent. The composite index has fallen 64 BPS over the past year.

"We think it is very fair to say that 2012 has proven to be a period of financial repair for consumers," David M. Blitzer , managing director and chairman of the index committee for S&P Dow Jones Indices, said in the report. "Consumers' financial condition continues to improve as witnessed by these declining credit default rates."

Among the top five metropolitan statistical areas, Dallas' composite delinquency rate was the lowest at 1.03 percent.

New York's composite rate was 1.28 percent, falling 21 BPS from August -- the biggest decline among the five MSAs.

In Miami, the 90-day rate was 2.48 percent -- the worst among the biggest areas.

next story

back to current headlines


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.


Logout forgot
password?

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