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

'Straight Pride' Posters Appear On Ohio's Youngstown State University Campus (removed)

Hillary Furious as Thousands of Americans Send Cigars to Her Office

A US Government Agency Quietly Acknowledged That Marijuana May Help Fight Brain Tumors

From the Archives Elvis Covers AC/DC's 'Whole Lot of Rosie'

Gaddafi’s Revenge: Europe Can Save Africans From Drowning—Or Itself From Being Swamped

Why Is Yemen Our War?

The Pitbull Behind the Homosexual Agenda

6th grade students punished for "pantsing"

Liberland: hundreds of thousands apply to live in world's newest 'country

Frat boys spit on wounded vet, urinate on American flag

Cuba has had a lung cancer vaccine for years

Marines practice riot control for future American civil unrest, footage shows troops taking on protesters

The American Dream is a myth, says Nobel-prize winner

A shocking new report details a memorandum between the VA and the FBI that shows them working together to disarm American veterans

Robert Downey Jr. ambushed over politics: Reporters want Iron Man to be a liberal activist

Dear Churches in America: Prepare to Be Treated Like 1st Century Christians in Rome

Google Maps hides an image of the Android robot urinating on Apple

Huckabee: U.S. moving toward 'criminalization of Christianity'

Mentally Ill Homeless Man Severely Beaten By Police Because His Beach Umbrella was Too Big

Exclusive — Empirical Vote Data Shows Democrats Still Control US Senate, Harry Reid’s Office Rejoices

NYT reporter: Misdirecting on Clinton stories is what Media Matters "exists to do"

The Threat of Gravity Payments [The Great Bloviator himself, Rush Limbaugh, ruptured a vessel railing]

Model for Norman Rockwell's 'Rosie the Riveter' Dies at 92

The Bombardment of the Clinton Crime Family Foundation Continues

Congressman Massie’s 500-Yard Run That is Driving Congress Crazy

Raisin takings case oral argument goes badly for the government

Entitled Underachieving Middle Son of the Romney Clan Wants Someone to Challenge Mike Lee

If science shows abortion is wrong, why is the pro-life movement so Christian?

Rand Paul’s Internet Army

GM, Ford, And Others Want to Make Working on Your Own Car Illegal

Watch: Here’s An Actual Ad For A New DC ‘Abortion Spa’

U.S. Army FORCES Cadets to Wear High Heels to Promote Feminist Campaign

Clinton Cash author is targeting Jeb Bush next

LOOK: Fan emails insane Tim Tebow conspiracy theory to Eagles player

Legislation that Fines Cops $15,000 for Interfering with Citizens who Film Them, Passes House - Cops Outraged

Body Cam: Cop Ignores Dog Sign, Hops Fence in Response to a Burglar Alarm, Kills Homeowners Dog

Cops Go Car To Car In Traffic Jam, Issue $18,000 in Fines for Cellphone Use at a Near Dead Stop

Robber Puts Knife to Grandma’s Throat, Grandma Puts Gun In His Face

Rushes to Judgment: The Top 10 Assassination Movies

John McCain: I Prefer Cruz Over Paul

Arkansas sheriff’s department with DHS deny family’s civil rights and kidnap their 7 children over legal dietary supplements

Jeb Bush Says NSA Surveillance is “the best part of the Obama administration”

What Rand Paul is doing is more important than trying to be a pure libertarian

What if you bring a gun onto ‘educational property,’ but don’t know that it’s educational property

These girls fight better than many boys.

Driving on Bullsh*t

Let me ask all of you some questions:

“Fast Track” And Trade Policy: Obama’s Republican Collaborators

Kochs defeated in Montana

Schick Hydro Silk TrimStyle Commercial 2015 (anyone offended by this?)


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: 445
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