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U.S. Mortgage Delinquencies, Foreclosures Dip in First Quarter

According to the Mortgage Bankers Association’s (MBA) National Delinquency Survey, the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 5.54 percent of all loans outstanding at the end of the first quarter of 2015. This was the lowest level since the second quarter of 2007. The delinquency rate decreased 14 basis points from the previous quarter, and 57 basis points from one year ago.

The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure. The percentage of loans in the foreclosure process at the end of the first quarter was 2.22 percent, down five basis points from the fourth quarter of 2014 and 43 basis points lower than the same quarter one year ago. This was the lowest foreclosure inventory rate since the fourth quarter of 2007.

The percentage of loans on which foreclosure actions were started during the first quarter was 0.45 percent, a decrease of one basis point from the previous quarter, and was unchanged compared to the first quarter of 2014. – See more at: http://www.worldpropertyjournal.com/real-estate-news/united-states/national-delinquency-survey-mortgage-delinquency-rate-2015-mortgage-bankers-association-joel-kan-loan-default-rates-home-foreclosure-data-for-2015-subprime-loans-fha-loans-9072.php#sthash.USCuPOJs.dpuf

U.S. Mortgage Delinquencies, Foreclosures Dip in First Quarter

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