Subprime HELOC Lending Rises, Delinquency Down
Not only are borrowers doing a better job of paying on their residential credit products, but lenders are giving more credit lines to subprime borrowers.
Nice Improvement in Serious Mortgage Delinquency
The level of late payments on first mortgages was lower last month. A similar improvement in performance was made on second mortgages.
Mortgage Delinquency Solidly in Pre-Crisis Territory
The last time the rate of past-due payments on home loans was this low, Lehman Brothers Holdings Inc. was still in business.
Government Foreclosure Rate Rises, Conventional Down
Home loan performance improved during the first three months of this year except on mortgages guaranteed by the Department of Veterans Affairs. All government mortgages saw an increase in the foreclosure rate.
Residential Loan Demand Rises, Requirements Ease
Banks reported an increase in demand for a number of home lending products over the past three months. At the same time, several financial institutions have relaxed standards.
Buffett Clarifies Mobile Home Loan Delinquency
Warren Buffett clarified a statement he made about the performance of mobile home loans owned by his firm.
Refis Drive Up Mortgage Originations at Regions
While purchase mortgage financing dropped, a rise in refinancing moved total home lending activity higher at Regions Financial Corp.
Serious Mortgage Delinquency Rate Tumbles
Serious delinquency on first mortgages tumbled last month, while the delinquency rate on second mortgages made an even bigger improvement.
Home Equity Delinquency Down
In the final quarter of last year, the past-due rate on home-equity products improved. But overall consumer performance wasn't so good.
HELOC Market Heats Up
Although outstanding balances on all home-secured credit products diminished, new activity on credit lines secured by residential properties is strengthening.