Tag Archives: mortgage report

Mortgage Delinquency Rate Drops

9 May

from May 7, 2014  DSNews.com

The mortgage delinquency rate declined to 3.61 percent at the end of the first quarter of 2014, according to TransUnion’s [1] latest mortgage report [2]. Overall, the mortgage delinquency rate has dropped 24 percent in the last year, and has experienced nine consecutive quarters of decline.

Currently, the rate is at the exact same level as it was in the second quarter of 2008, according to the company.

“It’s encouraging to see mortgage delinquencies drop once again, especially during a period when mortgage originations slowed considerably,” said Steve Chaouki, head of financial services for TransUnion. “This trend in improved performance is driven in part by lenders working their way through the foreclosure backlog, along with continued conservatism in underwriting new mortgages.”

Statewide, all 50 states and the District of Columbia saw declines in mortgage delinquency rates between the first quarter of 2013 and the first quarter of 2014. The largest percentages of decline continue to occur in states most impacted by the mortgage crisis: Arizona (-37.8 percent), California (-36.9 percent), and Nevada (-34.0 percent).

“Both Arizona (2.81 percent) and California (2.80 percent), which just five years earlier had delinquency rates nearly double the national average, are now significantly lower than the rest of the nation,” TransUnion remarked.

States with the smallest year-over-year declines include New York (-7.9 percent), New Jersey (-8.1 percent), and Vermont (-8.5 percent).

The company projects that consumer delinquency trends will continue on a downward slide. TransUnion forecasts that mortgage delinquencies will continue falling to approximately 3.4 percent by the end of June. The company based its projections on different economic assumptions, such as gross state product, consumer sentiment, unemployment rates, real personal income, and real estate values.

“We expect mortgage originations will once again pick up steam, and with continued tight lending standards, this should only help further bring down the mortgage delinquency rate,” Chaouki added.


Read the entire article here: http://dsnews.com/mortgage-delinquency-rate-continues-drop/

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NY, NJ Among Top 5 In Non-Current Loans

23 May
JACKSONVILLE, Fla. – May 22, 2013 – Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, reports the following “first look” at April 2013 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market.
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure):  ​ 6.21%​
     Month-over-month change in delinquency rate: ​ -5.81%​
     Year-over-year change in delinquency rate: ​ -9.61%​
Total U.S. foreclosure pre-sale inventory rate: ​ 3.17%​
     Month-over-month change in foreclosure presale inventory rate: ​ -5.83%​
     Year-over-year change in foreclosure presale inventory rate: ​ -24.55%​
Number of properties that are 30 or more days past due, but not in foreclosure: (A) ​ 3,111,000​
Number of properties that are 90 or more days delinquent, but not in foreclosure:  ​
1,394,000​
Number of properties in foreclosure pre-sale inventory: (B)  ​ 1,588,000​
Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) ​
4,699,000​
States with highest percentage of non-current* loans: ​ FL, NJ, MS, NV, NY ​
States with the lowest percentage of non-current* loans: ​ MT, WY, AK, SD, ND​
 *Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

The LPS full report should be out by June 5.