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7 Page 35 SPECIAL SECTION Five Star Virtual Conference Journal Compiled by the DS News Staff TA K E A L O O K I N S I D E T H E N U M B E R S DATA BITS Source: CardRatings Study Reveals States with Credit Conditions Most Vulnerable to the Pandemic LOAN PERFORMANCE HAS 'PROGRESSIVELY WEAKENED' In June, the U.S. delinquency and transition rates, and the year-over-year changes, according to the report, were as follows: » Early-Stage Delinquencies (30 to 59 days past due): 1.8%, down from 2.1% in June 2019. » Adverse Delinquency (60 to 89 days past due): 1.8%, up from 0.6% in June 2019. » Serious Delinquency (90 days or more past due, including loans in foreclosure): 3.4%, up from 1.3% in June 2019. is is the highest serious delinquency rate since February 2015. » Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.3%, down from 0.4% in June 2019. » Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 1%, down from 1.1% in June 2019. e transition rate has slowed since April 2020—when it peaked at 3.4%—as the labor market has improved since the early days of the pandemic. All states logged annual increases in both overall and serious delinquency rates in June. COVID-19 hotspots continue to be impacted most, with New Jersey (up 3.7 percentage points), New York (up 3.6 percentage points), Nevada (up 3.4 percentage points) and Florida (up 3 percentage points) topping the list for serious delinquency gains. Similarly, all U.S. metro areas logged at least a small increase in serious delinquency rate in June. Miami—which has been hard hit by the collapse of the tourism market— experienced the largest annual increase at 5.1 percentage points. Other metro areas to post significant increases included Odessa, Texas (up 4.8 percentage points); Laredo, Texas (up 4.8 percentage points); McAllen-Edinburg- Mission, Texas (up 4.6 percentage points); and Atlantic City-Hammonton, New Jersey (up 4.3 percentage points). I N S I D E T H E J O U R N A L | I N F O S T R E A M | T H E D I G I TA L E D G E | M O V E R S & S H A K E R S A look at facts you didn't know you couldn't live without. As of the end of September, MBA estimated that 3.4M homeowners were in forbearance plans. Since the 2008 start of conservatorship, the GSEs have completed more than 252,000 foreclosure prevention actions. 1. NE VADA 2. LOUISIANA 3. F LOR IDA 4. GE OR GIA 5. AL AB AMA 6. DEL AWAR E/MIS SIS SIPPI ( TIE ) 7. TENNE S SEE 8. ILLINOIS 9. NE W JER SE Y/S OUTH C AR OLINA ( TIE ) 2020'S WORST STATES FOR CREDIT CONDITIONS 1. NOR TH DAKOTA 2. VERMONT 3. S OUTH DAKOTA 4. MINNE S OTA 5. MONTANA 6. WA SHINGTON 7. NEBR A SKA 8. IOWA 9. MAINE 10. DISTR IC T OF C OLUMBIA 2020'S BEST STATES FOR CREDIT CONDITIONS RANK CITY/STATE RANK CITY/STATE "Three months into the pandemic- induced recession, the 90-day delinquency rate has spiked to the highest rate in more than 21 years." —Dr. Frank Nothaft, Chief Economist, CoreLogic