[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

'Angel particle' discovery called milestone

Top 10 Chinese tech and engineering marvels

During Abbas's visit, China proposes peace through development in Middle East

After protests over Satanic monument, city removes all religious symbols from memorial

Conservative Anglicans are close to despair. Is the C of E about to split?

Hungary's leader: EU and Soros seek to "Muslimize" Europe

911- Flight 175 Was Not A Commercial Aircraft

Wall Street Journal writer Joseph Rago found dead in his apartment (34 years old)

WATCH: Cop Kills Unarmed Man for Walking Toward Him – Gets Job Back & Immunity

Veterans Turn To Marijuana To Ditch ‘Cocktail Of Drugs’ From The VA

Professor Rages "My University Treated Me Like A Criminal Over A Joke"

Did Elon Musk just confirm that the moon landings were faked?

New Hampshire Decriminalizes Simple Marijuana Possession, Foundation to Nullify Federal Prohibition

Anthony Scaramucci Expected to Be Named White House Communications Director

White House Press Secretary Sean Spicer Resigns After Trump Shakeup

First of Its Kind ‘Food Sovereignty’ Law Just Legalized Local Food Trade WITHOUT Govt

“I’ve Done A Bad Thing” 5-year-old Girl Bursts into Tears As Cops Fine Her for Lemonade Stand

Police Devise New Revenue Scam by Citing People Who Forget to Press Crosswalk Button

Billionaire GOP donor calls President Trump 'an abortion of a human being'

Here’s Who Will Lament — and Celebrate — the Plummeting U.S. Birth Rate

In Landmark Move, GOP Congress Calls Climate Change ‘Direct Threat’ to Security

John McCain Is a National Treasure

Second Monumental Arch of Titus

‘Oh, he just died’: Teens mock drowning man in disturbing video

Body Camera Video In Minneapolis Dog Shooting Released

The good people that Vic talks about needing welfare

Michigan Man Told To “Give Up Some Of Your Constitutional Rights” In Exchange For Adopting Grandson

Court Rules That Employees Can’t Be Fired For Medical Marijuana

Court Says Gov't Has To Do More Than Say It Doesn't Believe The Property Owners If It Wants To Keep The Cash It Seized

Megyn Kelly’s Bad News Just Keeps On Coming. She’s Screwed.

US Lawmakers Seek to Throw Citizens in Prison for Decades if They Boycott Israel

Police Claim Damond ‘Ambushed’ Cops-Unarmed in Pajamas-Family Blasts it as ‘Disinformation’

DUI-E Law Now Makes It Illegal to Text, Smoke and Even Eat While Driving

Taking Care of a Friend’s Dog For The Weekend? Better Have a License, NYC Says

DOJ Boss Promises The Return Of Everything That Didn't Work During The Last 40 Years Of Drug Warring

Orthodox Patriarch of Moscow - West is making a mistake

Breaking: O.J. Simpson granted parole

Antifa Leader Arrested in California for June 2016 Sacramento Riot

Bad Leadership 101: Toronto Man Builds Stairway for $550 Instead of $65,000 -- and the City Blocks It

This Poconos Property Manager Helped My Family Keep Our Vacation Home—Until Pennsylvania Shut Her Down

Jeff Sessions Marijuana Obsession vs Trump’s Pledge

Storage Cubby “Criminals”

John McCain diagnosed with Brain Cancer

Big Military Spending Boost Threatens Our Economy and Security

Girl at lemonade stand threatened by a man who said he'd call police for lack of a business license (misterwhite or Gatlin?)

Former Speaker of the House Let Out of Prison Early After Raping Children

Innocent Man Freed After Cop Seen on Own Body Cam Planting Drugs to Frame Him

Jilted Dentist Calls CPS on Mom

Why Did the IRS Seize this Wedding Boutique and Sell Everything for Next to Nothing?

His parents said he just needed to sleep. A SWAT team came instead


Status: Not Logged In; Sign In

Business
See other Business Articles

Title: Mortgage Delinquencies in U.S. Fall to Lowest Since 2008
Source: Bloomberg
URL Source: http://www.bloomberg.com/news/2012- ... fall-to-lowest-since-2008.html
Published: May 16, 2012
Author: John Gittelsohn
Post Date: 2012-05-16 10:34:06 by Brian S
Keywords: None
Views: 1010
Comments: 1

The U.S. mortgage delinquency rate declined in the first quarter to the lowest level since 2008 as an improving job market and low interest rates helped more borrowers pay their bills.

The share of home loans at least 30 days late dropped to 7.4 percent from 7.58 percent in the previous three months, according to a report today from the Mortgage Bankers Association. The rate peaked at 10.1 percent in the first quarter of 2010 and was last lower in the third quarter of 2008, when it was 6.99 percent.

“Delinquencies are clearly continuing to improve,” Michael Fratantoni, the group’s vice president of research and economics, said in a statement. “Newer delinquencies, loans one payment past due as of March 31, are down to the lowest level since the middle of 2007, indicating fewer new problems we will need to deal with in the future.”

Falling delinquencies may help limit foreclosures and solidify a recovery in the housing market as low interest rates combine with decreased prices to stimulate demand. Housing affordability reached a new high in the first quarter and sales of previously owned homes rose 5.3 percent from a year earlier, data from the National Association of Realtors show.

The U.S. jobless rate fell in April to 8.1 percent, the lowest since January 2009. Rates for 30-year fixed loans declined to a record 3.83 percent in the week ended May 10, according to Freddie Mac (FMCC), the McLean, Virginia-based mortgage- finance company.

Tighter Lending

The largest share of troubled loans were originated in 2005 to 2007, according to the bankers group. Tighter lending standards and deflated prices for borrowers who got mortgages after the housing market collapsed account for better performance of loans issued since 2008, said Jay Brinkmann, chief economist for the association.

Loans more than 90 days overdue -- the point at which lenders usually begin the process of seizing a property -– fell to 3.06 percent on a seasonally adjusted basis from 3.11 percent in the first quarter and 3.62 percent a year earlier, according to the mortgage bankers. The share of homes that had received a foreclosure notice and hadn’t been seized by banks increased to 4.39 percent, up 1 basis point, or 0.01 percentage point, from the previous quarter, the trade group reported.

Mortgage servicers have slowed the pace of foreclosures since the fourth quarter of 2010, when they faced allegations of using improper and fraudulent paperwork to repossess homes with delinquent mortgages. The five largest servicers, including Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM), reached a $25 billion settlement with state and federal regulators in February.

Four states -- Maryland, Delaware, New Jersey and Washington -- had increases in the overdue rate for loans more than 90 days late. Foreclosure starts decreased in 41 states and the rate of loans in foreclosures fell in 22 states.

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

#1. To: Brian S (#0)

lmao....again, the 'baseline' tells the real story.

Proxy IP's are amusing.....lmao

Badeye  posted on  2012-05-16   10:37:28 ET  Reply   Trace   Private Reply  


TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com