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

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

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.

Bank Delinquency Rises

ABA composite ratio 2.42%

July 4, 2007

By MortgageDaily.com staff

Late payments rose on home equity loans, mobile home loans and home equity lines-of-credit during the most recent quarter, according to a banking trade group. But, compared to a year earlier, mobile home delinquency improved.

Home-equity loan delinquency was 2.15 percent during the first quarter, according to the American Bankers Association's Consumer Credit Delinquency Bulletin. Late payments increased from 1.92 percent during the fourth quarter and 1.94 percent a year earlier.

Delinquent HELOC borrowers were 0.60 percent -- the lowest of any category, ABA said. HELOC lates were up slightly from 0.57 percent in the fourth quarter and 0.55 percent a year earlier.

Property improvement loan delinquencies rose to 1.61 percent from 1.29 percent in the fourth quarter, ABA said. A year earlier, 1.42 percent of these borrowers were delinquent.

First quarter mobile home delinquency was 2.94 percent, rising from 2.82 percent, the report indicated. In the same quarter a year earlier though, mobile home delinquency was 3.37 percent.

"Slow job growth, falling home prices and weak economic growth helped to worsen consumers' financial position overall," ABA said.

ABA said its composite ratio, which tracks eight closed-end installment loan categories, was 2.42 percent in the first quarter, rising from 2.23 percent the prior period. During the first quarter 2006, the composite ratio was just 1.94 percent.

"There are still signs of consumer financial distress, which will continue throughout most of this year as the worst of the housing problem works its way through the economy," ABA chief economist James Chessen said in the statement.

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


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