90-Day 1st Mtg Delinquency Up 5 Consecutive Months
Serious delinquency on first mortgages was worse in December and has been worse each of the past five months.
Record Low Consumer Loan Delinquency
As performance on credit lines secured by residential properties deteriorated, late payments on home-equity installment loans retreated. Overall consumer delinquency set a new record.
Hard Money Lending Growing
With banks having tightened their purse strings since the housing crash, real estate investors have had to rely on cash to acquire properties. But a growing share are finding financing from hard-money lenders.
Skyline Raises Capital for Non-Agency Lending
With fresh capital in hand, Skyline Home Loans is moving into the market for non-agency mortgage lending.
Banks Tighten Residential Lending Requirements
The share of banks that tightened underwriting guidelines on residential loans increased this past year. But the trend on home-equity and commercial mortgage lending was more favorable.
Mortgage Delinquency Creeps Up
Serious residential delinquency rates on both junior and senior liens moved minimally higher last month. Loan performance, however, remains better than last year.
Home Loan Performance Improving
The level of distressed first mortgages has fallen to multi-year lows. While home-equity performance is also improving, outstandings are eroding.
Non-Agency Programs Expanded at Stonegate
Improvements to Stonegate Mortgage Corp.'s non-agency product menu include higher loan-to-value ratios and enhanced jumbo programs.
Bank Employment and Mortgage Originations Decline
The number of federally insured banks in business continued to diminish -- as did mortgage originations, assets and employees. Earnings and commercial mortgage holdings, however, grew.
Healthy Quarter for Mortgage Lending
Residential loan production rose for the first time in more than a year, while the nation's book of business grew and serious delinquency declined.