From Lender Processing Services: LPS’ May Mortgage Monitor Report: Increase in Rate of New Delinquencies; Decline in Number of Delinquent Loans Becoming Current The May Mortgage Monitor report released today by Lender Processing Services, Inc. …
Posts Tagged delinquencies
From Jon Prior at HousingWire: Mortgage Delinquencies Pass 10%: LPS Home-loan delinquency rates in the US reached 10% in December, up from the record-high 9.97% in November, according to Lender Processing Services … which provides data on mortgage performance
CRE and CMBS
Jan 7
A few related stories … From Jon Prior at HousingWire: CMBS Delinquencies Reach New All-Time High For the first time since the industry began forming commercial mortgage-backed securities (CMBS), delinquencies reached above 6%, according to a report from Trepp, which studies commercial real estate trends. For the month of December, 6.07% of CMBS loans fell behind by 30 days or more, up from 5.65% in November and a far climb from 1.21% in December 2008.
I’ve excerpted below from a paper by New York Fed Researchers Andrew Haughwout, Ebiere Okah, and Joseph Tracy: Second Chances: Subprime Mortgage Modification and Re-Default Although the paper uses subprime data, the general results are applicable to all mortgages. The researchers point out that principal reductions lead to much lower redefault rates (that is obvious, but still worth noting)
A Few House Price Forecasts
Nov 20
From housing consultant Ivy Zelman commenting on the MBA Delinquency report in the NY Times U.S. Mortgage Delinquencies Reach a Record High “I’ve been pretty bearish on this big ugly pig stuck in the python and this cements my view that home prices are going back down.” OK, a muddled metaphor alert, but the point is clear.
Here is a scatter graph comparing the seriously delinquency rate for mortgage loans vs.
Click on graph for larger image in new window.
Press Release: Fannie Mae Reports Third-Quarter 2009 Results Fannie Mae (FNM/NYSE) reported a net loss of $18.9 billion in the third quarter of 2009 , compared with a loss of $14.8 billion in the second quarter of 2009. …
