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.


Bank Activity Worse

FDIC reports lower outstandings, more lates

June 1, 2007

By COCO SALAZAR


photo of Coco Salazar

Mortgages outstanding at federally-insured commercial banks and savings institutions edged down for the first time in over three years, and delinquency rose to the highest level in almost two decades. More than 70 institutions were merged in the latest quarter.

Outstanding residential real estate loans were $2.73 trillion in the first quarter, slightly off $2.74 trillion in the previous quarter but higher than $2.63 trillion in the comparable period a year ago, according to the Federal Deposit Insurance Corp.

The latest outstanding volume from FDIC-insured institutions consisted of "other" one- to four-family residential loans of nearly $2.17 trillion -- off 0.3 percent and the first decline in 13 quarters -- and home equity loans of close to $0.56 trillion, which edged down 0.5 percent from the fourth quarter, according to the report.

Commercial banks reportedly held 1.14 percent of the outstanding one- to four-family loan amount and 0.39 percent of HELs, and mortgage lenders had 0.91 percent and 0.62 percent, respectively.

Noncurrent residential mortgage loans increased by $1.7 billion during the three months ending in March, FDIC said in the announcement. The percentage of noncurrent one- to four-family residential mortgages rose from 1.05 percent to 1.13 percent in that time -- the highest noncurrent rate for residential mortgage loans in the 17 years the data has been reported. However, according to the report, the percentage of such mortgages in the category of loans past due 30 to 89 days, declined 9 basis points to 1.21 percent.

The FDIC's results were derived from 8,650 insured commercial banks and savings institutions reporting financial results, a net decline of 31 institutions from the end of 2006 due to 41 added reporters and 72 institutions being absorbed by mergers. One commercial bank, with $15.3 million in assets, failed during the quarter -- representing the first FDIC-insured institution failure since mid-2004. Meanwhile, the number of institutions on the FDIC's "Problem List" increased from 50 to 53 and the "problem" institutions assets rose from $8.3 billion to $21.4 billion during the quarter.

The Office of Thrift Supervision, which had six problem thrifts out of 838 it regulates, recently reported one- to four-family mortgages of $149.6 billion at the end of March jumped 20 percent from the fourth quarter. The rate of thrifts' noncurrent one- to four-family loans rose to 1.14%.

OTS-regulated institutions added $1.2 billion to loan loss provisions during the quarter ending in March. Meanwhile, those insured by the FDIC set aside $9.2 billion, also slightly below that in the fourth quarter but the largest year-over-year increase -- $3.2-billion -- in five years.


Coco Salazar is an associate editor and staff writer for MortgageDaily.com.

e-mail: [email protected]


Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.



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