Mortgage Daily Logo

Decline in Serious Mortgage Delinquency

Mortgage News

Mortgage Daily

                                                 May 15, 2018

As was the case for overall consumer credit performance, the monthly rate of serious delinquency on first mortgages showed improvement.

An indication of 90-day delinquency for consumer credit, the Consumer Credit Default Composite Index, was 0.92 percent for April of this year.

The index reflects the performance of four consumer credit categories including automobile loans, bank credit cards, first-lien mortgages and second-lien mortgages.

S&P Dow Jones Indices LLC and Experian jointly reported the index, along with several related indices.

The consumer index declined 4 basis points from one month previous. Still, serious consumer delinquency deteriorated by 2 BPS compared to the same month in the preceding year.

In Chicago, the composite index was 0.90 percent, sinking from March by 14 BPS — the most of any of the five largest metropolitan statistical areas tracked in the report.

The Los Angeles MSA had the lowest rate: 0.59 percent.

At 2.78 percent, the Miami MSA’s rate was the highest and a whopping 65 BPS higher than the previous month.

Ninety-day delinquency on U.S. first mortgages was 0.68 percent as of April 30, 2018.

The turned out to be an improvement for residential loan delinquency, with the 90-day rate decreasing 4 BPS from one month prior.

The year-over-year decrease was less prolific at just a single basis point.

Related Posts

Federal Housing Administration$1,224.5 billionDec. 31

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Federal Housing Administration$1,224.5 billionDec. 31

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Federal Housing Administration$1,224.5 billionDec. 31

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

Federal Housing Administration$1,224.5 billionDec. 31

Mortgage Servicing Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story BAC Home Loan...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming paperwork has been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and furniture need to...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand-new mortgage loan can be a difficult task, especially for first-time homeowners.   After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first...

Newsletter

Don’t worry, we don’t spam