DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/274957
94 STATE OF AFFAIRS: WEST » Hawaii RANK: 4 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate DECEMBER 2013 2.10% 5.13% 4.5 YEAR AGO 2.43% 5.89% 5.1 YEAR-OVER-YEAR CHANGE -13.7% -13.0% -0.6 Top County HAWAII COUNTY 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 2.38% 9.13% YEAR AGO 3.32% 10.54% YEAR-OVER-YEAR CHANGE -28.3% -13.4% Top Core-Based Statistical Area HILO, HI 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 2.38% 9.13% YEAR AGO 3.32% 10.54% YEAR-OVER-YEAR CHANGE -28.3% -13.4% 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 December 2013 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary December 2013 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Idaho RANK: 29 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate DECEMBER 2013 1.44% 1.82% 5.7 YEAR AGO 1.92% 2.52% 6.3 YEAR-OVER-YEAR CHANGE -24.9% -27.9% -0.6 Top County LEWIS COUNTY 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 1.09% 4.48% YEAR AGO 1.43% 3.01% YEAR-OVER-YEAR CHANGE -24.0% 49.2% Top Core-Based Statistical Area ONTARIO, OR-ID 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 2.21% 3.42% YEAR AGO 2.11% 3.37% YEAR-OVER-YEAR CHANGE 4.7% 1.5% 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 December 2013 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary December 2013 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS Idaho Bank Goes Down, Makes Third Collapse of 2014 Daily banking business for Boise residents is continuing as usual but under a slightly different banner: Syringa Bank and its six branches shuttered recently, leading to an FDIC-insured handover to Sunwest Bank from Irvine, California. Syringa Bank is the first Idaho bank to close since April 24, 2009, when First Bank of Idaho was closed. Syringa Bank was closed by the Idaho Department of Finance, prompting the FDIC-led purchase and as- sumption agreement with Sunwest. As of September 30, 2013, Syringa Bank held approximately $153.4 million in total assets and $145.1 million in total deposits. Sunwest will pay a premium of 0.75 percent to FDIC to acquire the deposits of the recently closed Syringa Bank. Additionally, Sunwest agreed to purchase all of the failed bank's assets. e bank's closure is expected to cost the Deposit Insurance Fund (DIF) approximate- ly $4.5 million. Bank closures have been steadily declining in recent years. In 2011, the FDIC reported 92 bank failures—that number was halved in 2012 to 51. Last year proved to be another downward trend in bank closures, with 24 reported collapses. Syringa Bank is the third bank closure of 2014. Montana RANK: 38 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate DECEMBER 2013 1.08% 1.10% 5.2 YEAR AGO 1.28% 1.40% 5.6 YEAR-OVER-YEAR CHANGE -15.2% -21.0% -0.4 Top County POWELL COUNTY 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 1.43% 4.71% YEAR AGO 0.79% 3.51% YEAR-OVER-YEAR CHANGE 80.0% 34.0% Top Core-Based Statistical Area KALISPELL, MT 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 1.06% 1.57% YEAR AGO 1.58% 2.23% YEAR-OVER-YEAR CHANGE -32.9% -29.6% 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 December 2013 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary December 2013 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Nevada RANK: 8 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate DECEMBER 2013 4.22% 3.34% 8.8 YEAR AGO 6.10% 5.40% 9.8 YEAR-OVER-YEAR CHANGE -30.8% -38.1% -1 Top County NYE COUNTY 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 4.16% 5.64% YEAR AGO 5.30% 7.61% YEAR-OVER-YEAR CHANGE -21.4% -25.8% Top Core-Based Statistical Area PAHRUMP, NV 90+ Day Foreclosure Delinquency Rate Rate DECEMBER 2013 4.16% 5.64% YEAR AGO 5.30% 7.61% YEAR-OVER-YEAR CHANGE -21.4% -25.8% 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 December 2013 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary December 2013 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Closing cost assistance on Fannie Mae's HomePath properties. Source: Fannie Mae STAT INSIGHT 3.5%