The Economy, Employment, Rising Home Prices Whittle Away at Delinquencies

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Posted To: MND NewsWire

Improving loan performance doesn’t make headlines any longer, but worth noting that the improvement is still good news. The Mortgage Bankers Association (MBA) says the first quarter of 2018 saw even more progress in reducing delinquencies, improvement noted across all categories of distress. The MBA’s National Delinquency Survey shows a 54-basis point (bp) reduction in the overall delinquency rate compared to the fourth quarter of 2018 to a seasonally adjusted annual rate of 4.63 percent. It is also an 8-bps decline since the first quarter of last year. Delinquencies were down in all stages on a quarter-over-quarter basis. The 30-day bucket dropped 27 bps while the 60-day and 90-day delinquency buckets retreated 9 and 18 basis points respectively. The delinquency rate does not include loans…(read more)

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