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/
Foreclosure News | Foreclosures Statistics

The Shadow Inventory Report

Backlog of distressed assets increases in Q3

Jan. 3, 2011

By MortgageDaily.com staff


The U.S. housing recovery was hindered by a growing backlog of distressed real estate during the third quarter. Among major metropolitan areas, the Big Apple had the biggest backlog of distressed assets. But a Florida market was the only area in the country to see a reduction.

That was according to Third-Quarter Shadow Inventory Update: The Timelines To Clear The Backlog Continue To Increase announced Monday by Standard & Poor's Rating Service.

Around $450 billion in distressed assets were outstanding as of Sept. 30, 2010, S&P Managing Director Diane Westerback said in the statement. She estimates that it will take 44 months to clear out the U.S. distressed inventory.

Distressed assets were down from around $460 billion three months earlier, but second-quarter time on the market was only 40 months.

"Given the pace of residential defaults during the housing downturn, the market's inability to quickly absorb the excess volume has created a large 'shadow inventory' of distressed properties," S&P said.

"Shadow inventory" was defined as loans past due at least 90 days, loans in foreclosure and real-estate-owned assets.

"Comparatively, Standard & Poor's estimates that it will take nearly 10 years to clear the inventory in the New York MSA at the current liquidation rate," the New York-based ratings agency wrote. "That is at least twice as long as it will take in any of the other top 20 MSAs and nearly three times the average time to clear for the entire U.S."

But Miami -- located in one of the hardest-hit states -- was the only top-20 metropolitan statistical area to see a decline from the second quarter, S&P said.

next story

back to current headlines

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 Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.


Real Estate News | Real Estate Statistics
Residential real estate news and coverage of how residential real estate impacts the mortgage industry and residential mortgage-backed securities.


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