Posts Tagged ‘delinquency rate’

Irma Affected More than 90% of Florida Mortgages

Posted on September 21, 2017 by Laura Lam

More than 90% of all mortgaged properties in Florida are in a FEMA-designated disaster area following Hurricane Irma, nearly three times the number impacted by Hurricane Harvey, according to Black Knight.  “While the total extent of the damage from Hurricane Irma is still being determined, it is clear that the size and scope of the disaster is immense,” said Ben Graboske, Black Knight data & analytics executive vice president. Irma significantly outpaces even the number of borrowers impacted by Hurricane Harvey.  “More than 3.1 million properties are now included in FEMA-designated Irma disaster areas, representing approximately $517 billion in unpaid…

Hurricane Aftermath: Over 25% Could Miss Mortgage Payment

Posted on September 13, 2017 by Laura Lam

Over one-quarter of all mortgages in the areas affected by Hurricane Harvey are likely to become delinquent within 4 months because of the storm, according to an analysis from Black Knight.  Approximately 300,000 mortgage borrowers will miss at least one payment on their loan because of the storm, with 160,000 not making 3 or more payments.  Black Knight modeled this estimate based on changes in the delinquency rate in Louisiana and Mississippi following Hurricane Katrina in 2005. Mortgage delinquencies in affected areas in Louisiana and Mississippi peaked at 34%, with the rate of seriously delinquent loans peaking at 16%. But there…

Mortgage Delinquencies Continue to Decline

Posted on July 27, 2017 by Laura Lam

Mortgage delinquencies dropped in April and the economy continued to show improvement, according to the latest Loan Performance Insights Report from CoreLogic.  Nationally, mortgages in some stage of delinquencies, those that are 30 days or more past due including those in foreclosure, dropped to 4.8% of total mortgages in April. This is a decrease of 0.5 percentage points from last year’s 5.3%. The foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, decreased to 0.7%, down from April 2016’s 1%. The serious delinquency rate, defined as 90 days or more past due including loans…

CMBS Delinquency Rate Jumps to 5-Year High

Posted on July 10, 2017 by Laura Lam

Trepp, a leading provider of information, analytics, and technology to the structured finance, commercial real estate, and banking markets, released its June 2017 U.S. CMBS Delinquency Report.  The commercial mortgage-backed securities (CMBS) delinquency rate climbed by its highest amount in more than 5 years.  The delinquency rate for U.S. commercial real estate loans in CMBS is now 5.75%, an increase of 28 basis points from May. The jump in June’s reading is the highest rate increase measured since March 2012. The June 2017 rate is now 115 basis points higher than the year-ago level. “After months of marginal increases, the…

CMBS Delinquency Rate at Highest Level Since Dec. ’15

Posted on December 19, 2016 by Laura Lam

The Trepp CMBS Delinquency Rate continued to climb in November. The rate began to rise in March as loans from the 2006 and 2007 vintages started to reach their maturity dates, which has caused the reading to move higher in 8 of the last 9 months. The delinquency rate for US commercial real estate loans in CMBS is now 5.03%, an increase of 5 basis points from October. The rate is now only 10 basis points lower than the year-ago level. At one point this year, the rate was showing a year-over-year improvement of 143 basis points. The delinquency reading…

Has Auto Lending Lost Its Luster?

Posted on November 10, 2016 by Laura Lam

Regulators have been warning about frothy conditions in the market for automobile loans. But things had to hit close to home – shrinking loan yields and rising delinquencies – before bankers really paid attention.  Now, several companies said that they plan to scale back indirect auto lending, citing increased competition and narrowing spreads. Others are reducing exposure by selling off large chunks of auto loans – though those banks insist they remain committed to auto lending. Their moves come at a time when auto lending has reached record highs. The volume of auto loans made by banks, credit unions and…

Car Buyers Are Struggling to Make Payments

Posted on August 22, 2014 by Saldutti

The repo man is getting very busy as a growing number of car and truck owners are struggling to make their monthly auto loan payments. Experian, which analyses millions of auto loans, said that the percentage of those loans that were delinquent or ended up in default with the vehicle being repossessed surged in the second quarter of this year. The rate of repossessions jumped 70.2% in the second quarter, with much of that increase coming from finance companies not run by automakers, banks or credit unions. Even with that rise, the percentage of auto loans that end in default…