Quarterly Delinquency, Foreclosure Rate at 7-Yr Low
The quarterly rate of 30-day delinquency and foreclosures fell to the lowest levels in seven years. Past-due payments on government-insured loans, however, worsened.
HELOC Lending on the Rise
Although traditional mortgage originations have generally been declining, home-secured credit line business has been on the rise. But while some subprime activity has crept into closed-end mortgage lending, credit line activity has been limited to prime borrowers.
2nd Mortgage Delinquency Deteriorates Again
Although first mortgage loan performance ended a five-month streak of deterioration, the same can't be said for second mortgage performance.
Demand Diminishes for Residential Lending
A survey of the nation's banks indicates that demand for a range of residential loan products has mostly been weakening.
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.