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38 MORTGAGE- LOAN DELINQUENCY RATES: Q2 2020 SNAPSHOT ere was a climb of 8.22% in the delinquency rate for mortgage loans on one-to four-unit residential properties of all loans outstanding at the conclusion of the second quarter, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey. Researchers say that, all things considered, delinquency has "yet to emerge as a major issue." From the first quarter of the year, the delinquency rate increased by 386 basis points. From a year ago, it ascended 369 basis points. With the survey in mind, if the payment was not made based on the original terms of the mortgage, servicers are asked by the MBA to report loans in forbearance as delinquent. With 628 basis points, the state of New Jersey showed the largest quarterly spike in overall delinquency, followed by Nevada, 600 basis points; New York, 575; Florida, 569, with Hawaii rounding out the top five at 525. ose regions most affected all include a prevalence of leisure and hospitality jobs that absorbed particularly hard hits by COVID-19. For all outstanding loans, the seasonally adjusted total mortgage delinquency spiked contrasted to last quarter. ere was a drop of 33 basis points to 2.34% in the 30-day delinquency rate, while the 60-day delinquency rate headed in the other direction, ballooning 138 basis points to 2.15%. It was the highest rates since the survey was initiated in 1979. Meantime, there was an escalation of 279 basis points to 3.72% for 90-day delinquency. at topped all rates dating back to the third quarter of 2010. e 30-day delinquency rate decreased 33 basis points to 2.34%, while the 60-day delinquency rate increased 138 basis points to 2.15%. at was the highest rate since the survey was initiated in 1979. Meantime, the 90-day delinquency bucket increased 279 basis points to 3.72%. It was the highest rate since the third quarter of 2010. Compared to the previous quarter, based on loan type, there was a jump of 352 basis points to 6.68% in the total delinquency rate for conventional loans. It looms as the highest rate since the third quarter of 2012. ere was a hike of 569 basis points to 15.65% in the FHA delinquency rate. It was the largest since the start of the survey in 1979. Toppling another long-held record, the VA delinquency rate ticked up by 340 basis points to 8.05% over the previous quarter. at surpassed the previously highest rate since third quarter of 2009. Last month, the share of mortgage loans that fell into delinquency toppled anything experienced since the Great Depression, according to CoreLogic's data. It also was the highest rate on record in 21 years. A total of 3.4% of mortgages went from current to 30 days past due during April. at surged past the 2% high set in late 2008. Frank Martell, President and CEO of CoreLogic, said that thanks to government COVID-19 relief programs and other housing finance industry efforts, despite the scale and suddenness of the pandemic, mortgage delinquency has yet to emerge as a major issue. "As the true impact of the economic shutdown during the second quarter of 2020 becomes clearer, we can expect to see a rise in delinquencies in the next 12-18 months— especially as forbearance periods under the CARES Act come to a close." Journal