Seriously Delinquent Mortgages Fall to 5-Year Low

The number of mortgages that were 'seriously delinquent' in November fell to the lowest level since the end of 2008, according to a new data from property information firm CoreLogic. Completed foreclosures also dropped, an indication that the U.S. housing market is getting back on stable footing. In November there were less than 2 million mortgage loans that were classed as seriously delinquent – those that were late by 90 days or more – accounting for roughly 5 percent of all mortgages, the Read more [...]

Foreclosures Near Pre-Recession Levels

Another sign that the housing market is recovering: seriously delinquent mortgages fell to a five-year low during the second quarter of this year and overall foreclosures also continued to decline. The latest data from the Mortgage Bankers Association shows that seriously delinquent home loans -those late by more than 90 days or already in the foreclosure process – dropped to 5.88 percent of all mortgages in the second quarter, down dramatically from 7.31 percent the previous year. The last Read more [...]

Freddie Mac Earns $4.5 Billion Mortgage Profit in 4th Quarter

After several years of needing government assistance to stay afloat, mortgage giant Freddie Mac has made some headway in the last year, managing to make a major profit in the latest quarter. Between October and December, Freddie earned $4.5 billion as a result of “a decrease in the volume of newly delinquent single family loans and continued improvement in national home prices.” The 2012 fourth quarter marks the fifth consecutive profitable quarter for the government-controlled company. Freddie, Read more [...]

Mortgage Delinquencies Jumped in September

The rate of delinquent mortgage rose 7.7 percent in September from the previous month, according to Lender Processing Services, the biggest increase in four years. The LPS September Mortgage Monitor report found that the current U.S. mortgage delinquency rate is now 7.4 percent, and while September typically registers a rise in delinquencies, this year it was more dramatic. Even so, LPS Applied Analytics Senior Vice President Herb Blecher pointed out that the delinquency rate have been getting Read more [...]

Foreclosures Are Rising But Could Be For the Best

The number of foreclosure starts grew during the second quarter of this year from the year before, according to housing data company RealtyTrac Inc. While that may not sound positive, it may actually be the best thing for the housing market today. Initial foreclosure notices rose 6 percent in the second quarter from 2011, marking the first year-over-year increase since 2009. Foreclosure starts increased in 31 of the 50 states, with California seeing an 18 percent jump in its initial foreclosure Read more [...]

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on July 16th 2012 in Mortgage News

Foreclosure Numbers Remain in Check, For Now

Many economists and housing market analysts have been expecting another wave of mortgage foreclosures to hit soon, now that the robo-signing mess has been sorted out. Yet, according to new reports from LPS Applied Analytics and CoreLogic this week, the foreclosure waters are still fairly calm. Foreclosures did rise 8.1 percent in March from the month before, based on findings from LPS, but they were still down 31.1 percent from March 2011. The LPS March Mortgage Monitor also found that mortgage Read more [...]

Foreclosures and Delinquencies Fall in January

Homeowners are making progress in keeping current on their loans, according to the mortgage information company CoreLogic, as evidenced by fewer delinquencies and foreclosures in January on a yearly basis. During the month of January, there were 69,000 completed foreclosures and while that is up from December 2011's 65,000 completed foreclosures, it is down significantly from a year earlier when there were 80,000. And delinquencies improved compared with the previous year as well. In January Read more [...]

Mortgage Delinquencies Decline in Latest Quarter

Fewer homeowners were behind on their mortgage payments in the fourth quarter of 2011, according to the Mortgage Bankers Association, pushing delinquencies to a three-year low. "The total delinquency rate and foreclosure starts rate decreased and are back down to levels from three years ago," said Jay Brinkmann, MBA's chief economist and senior vice president for research and education, in a news release. "A major reason is that the loans that are seriously delinquent are predominantly made up Read more [...]

Mortgage Delinquencies Jump in Second Quarter

The number of homeowners behind on their mortgage payments increased during the second quarter of 2011, according to information from the Mortgage Bankers Association. During the second quarter, 8.44 percent of all mortgage loans were delinquent, an increase of 0.12 percent from the previous quarter. The rate is down, however, 1.41 percent from the same quarter of 2010. "Mortgage delinquencies are no longer improving and are now showing some signs of worsening," Jay Brinkmann, chief economist Read more [...]

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on August 22nd 2011 in Mortgage News

The Second Wave of Mortgage Pain Begins

This was not a good week for the U.S. economy. Reports came piling in that both existing and new home sales dropped by double-digits in July. The GDP grew by a meager 1.6 percent in the second quarter, roughly half the growth expected by many economists. Federal Reserve chief Ben Bernanke is now saying that the Fed will start buying up more debt if needed to stabilize the investor confidence climate. And now the Mortgage Bankers Association is reporting that mortgage delinquencies of those 30 days Read more [...]

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on August 27th 2010 in Mortgage News