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Equifax Finds Home Finance Write-Offs Retreat to 5-Year Low Home finance balances written off in the first quarter fell to a five-year low, according to Equifax's National Consumer Credit Trends report for March. The Atlanta-based credit reporting agency says the balance of home finance write-offs—which includes loans that completed the foreclosure process, transitioned into REO status, entered bankruptcy, or were charged off by the lender—decreased to $43.1 billion in the first quarter of this year. The balance represents a 22 percent decline from $55.4 billion in Q1 2012. "Overall home finance balances decreased to $8.38 trillion in March 2013 from $8.64 trillion [the] same time a year ago," said Amy Crews Cutts, Equifax's chief economist. "The decline is due to write-offs from foreclosures as well as from consumers paying down balances when refinancing, known as cash-in refinancing, shortening terms when they refinance their loans or making extra principle payments each month for faster amortization; some have even paid off their mortgages entirely." Loans in the home equity revolving category decreased 44.1 percent yearover-year in March, while home equity installment loans were down 32.9 percent. First mortgage loans decreased 17.6 percent during the same time period, Equifax revealed. Among first mortgage loans, the total balance for severely delinquent mortgages (90 days past due or in foreclosure) decreased more than 29 percent year-overyear to $350 billion in March. The figure also represents a 51 percent decrease from the March 2010 peak when the balance was $714 billion. Equifax found more than 65 percent of the severely delinquent balances were from loans originated from 2005 to 2007. The credit agency also noted transition rates for balances rolling from current status to 30 days past due, 30 to 60 day delinquencies, and 60 to 90 day delinquencies are all at new lows for a five-year look-back period. Though, transition rates for balances moving from in-foreclosure to REO status are near the five-year period peak. Severely delinquent balances for the home equity revolving category decreased 88 more than 29 percent year-over-year to $9.7 billion. Nearly three-fourths (73 percent) of the delinquent balances are from lines of credit opened from 2005 to 2007. Home equity installment loans saw their balance of severely delinquent loans fall nearly 26 percent to $4.9 billion over a oneyear period ending in March. Hawaii rank: 4 90+ Day Delinquency Rate Foreclosure Rate March 2013 2.3% Unemployment Rate 6.0% 5.1% year ago 2.5% 6.5% 6.2% year-over-year change -4.5% -6.9% KNOW THIS -17.7% Top County Hawaii CounTy Institutional investors are driving Atlanta's housing market, Radar Logic reports, with investor transactions up 148% annually in February. 90+ Day Delinquency Rate Foreclosure Rate March 2013 2.9% 11.1% year ago 3.0% 11.6% year-over-year change -4.6% -4.8% Top Core-Based Statistical area Hilo, Hi 90+ Day Delinquency Rate Foreclosure Rate March 2013 2.9% 11.1% year ago 3.0% 11.6% year-over-year change -4.6% -4.8% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. Idaho rank: 27 90+ Day Delinquency Rate Foreclosure Rate March 2013 1.9% Unemployment Rate 2.4% 6.2% year ago 2.0% 2.9% 7.4% year-over-year change -8.1% -14.5% -16.2% Top County LInCoLn CounTy 90+ Day Delinquency Rate March 2013 3.8% The World Wide Web is a busy place. DSNews.com cuts through the noise. Foreclosure Rate 6.4% year ago 6.1% 5.9% year-over-year change -38.5% 8.6% Top Core-Based Statistical Area The information you need, Loud and Clear. 90+ Day Delinquency Rate BurLey, ID Foreclosure Rate March 2013 1.9% 3.8% year ago 1.6% 3.4% year-over-year change 13.0% 12.1% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously Call 214.525.6700 or visit DSNews.com. delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics.

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