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

Good Morning everyone my name is Devil Anse

California Bars Judges From Boy Scouts Because of Anti-Gay Stance

(vanity) Reminder---First Episode Of History Channel's "Sons Of Liberty'' TONIGHT

AC/DC’s ‘Big Balls’ Rewritten About Tom Brady and DeflateGate

New Psychiatric Diagnosis Targets “Internet Conspiracy Theorists”

Leggett on the tendency of the government to become “the universal dispenser of good and evil” (1834)

Texas open carry activists unlawfully arrested against state penal codes

A GUIDE TO 2016 REPUBLICAN CANDIDATES’ POSITIONS ON ILLEGAL IMMIGRATION

The New Progressive Mitt Romney is the Same as the Old Progressive Mitt Romney

Fox News Raises Alarm Over College Course About Race

Mayor Calls 911 To Report A Robbery, Police Show Up, Beat and Arrest Her

The Secret of Global Warming

Socrates as the “gadfly” of the state (4thC BC)

GOP Summit—The Good, The Bad And The Absolutely Crazy

Game chants strike racial nerve in Lodi

Fact-checking Rand Paul's disability claims

The day I ate pot candy and ended up in hospital

Welcome Back Calcon

Failure to Launch

Great news. Republicans look at eliminating filibuster for SCOTUS nominees

Japanese Characters stolen from Korean Characters

Who Decides Whether Rand Paul's Libertarian Girl Has 'Fringe' Foreign Policy Views?

The flawed libertarian response to the Charlie Hebdo attacks

Lars Andersen: a new level of archery

Terrorists in Paris Don’t Understand How Free People Think

White professor teaches 'problem of whiteness' course at Arizona State

Man Acquitted of Stabbing a Police Officer, Juror says he Was “Protecting his Family”

Bipartisan Special Skills Visa Bill Helping Companies Get Rid of Older Employees

Welcome To Tur(d)lock CA---Death Of A Small City

Donald Trump tips his hand on a White House run by hinting at 'when' – not 'if' – he will file papers

Sarah Palin 'seriously interested' in 2016 bid

News 'USA' chant by Texas high school fans draws allegations of racism (absurd PC fascism runs amok)

Anti-Cop Activist Pastor Trains With Maricopa County Sheriff’s Office

SEE IT: Oklahoma cop’s bodycam captures fatal Muskogee police shooting

Kentucky counties make unprecedented push for right-to-work laws

White House denies report US suspended counterterrorism operations with Yemen

Mass Death of Seabirds in Western U.S. Is 'Unprecedented'

White supremacist cop killer with tattoos all over his face loses right to an attorney after continuously threatening them and saying they do not have the honor of being in his 'Aryan GOD presence'

The sound of your car’s engine might just be a lie

Sarah Palin: Republicans Have ‘Deflated Balls’ Just Like The NFL Patriots

Three GOP Presidential Hopefuls to Appear on Panel Moderated by ABC’s Jonathan Karl

Obama will travel to Saudi Arabia for King Abdullah's funeral

Pot-related poison control calls up in Washington, Colorado

'Mr. Cub' Ernie Banks dies at 83

Obama WH Says Netanyahu “Spat in Our Face” for Agreeing to Speak With US Congress on Iranian Threat

Video: UFC Star Tased, Arrested After Asking Cops For ID

Senator Wants DUI Charges Dismissed Citing that Lawmakers are “Privileged from Arrest”

Bayonne police officer arrested (by FBI) over alleged inapproriate use of force

The New World Order is Real : AFP PODCAST & ARTICLE

CLORADO MAN JAILED FOR ANTI-POLICE FACEBOOK THREATS IN LAS VEGAS

Mini GOP Debate: Cruz, Paul And Rubio To Participate In Forum Hosted By Koch Donor Network


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: 280
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