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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.

Worsening Performance on 2nd Mortgages

November 1st mortgage 90-day rate up 1 basis point from prior month

Dec. 15, 2015

By Mortgage Daily staff

Over the past year, serious delinquency on second mortgages has deteriorated by nearly 20 basis points. Monthly first mortgage delinquency ticked up.

Consumer credit delinquency of at least 90 days worked out to 0.97 percent as of November, worsening by three basis points from the previous month.

In the same month last year, 90-day consumer delinquency on consumer credit -- including mortgages, car loans and bank cards -- was at 1.07 percent.

That was according to the S&P/Experian Consumer Credit Default Indices.

Consumer delinquency was 1.48 percent in the Miami metropolitan statistical area, the highest of any of the five-largest MSAs and worsening 19 basis points from October.

Chicago had the only decline -- four BPS to 1.03 percent -- while Los Angeles' rate of 0.74 percent was the lowest.

Ninety-day delinquency on U.S. first mortgages finished last month at 0.82 percent.

The first-mortgage rate was up a basis point from October but 15 BPS less than in November 2014.

On second mortgages, serious delinquency was 0.67 percent as of November 2015.

Delinquency on second mortgages surged 11 BPS on a month-over-month basis and soared 19 BPS on a year-over-year basis.

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