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Bailout

: Calculated Risk

MBA Q2 National Delinquency Survey Conference Call

By Anonymous

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On the MBA conference call concerning the "Q2 2010 National Delinquency Survey", MBA Chief Economist Jay Brinkmann said this morning:

  • Survey covers about 88% of mortgage market.

  • Mixed news in Q2.

  • Percent of loans in foreclosure down.

  • Foreclosure starts fell.

  • 90+ day delinquent category dropped sharply. Some of this decline is because modifications were included as delinquent until the borrower had made several payments - and some of these borrowers with modifications are now being considered current.

  • However short term delinquencies are increasing again.

  • Delinquencies and foreclosure starts continue to move to prime fixed rate and FHA loans.

  • "Improvements are more of a hope". Some of the key factors leading to improvement "may not continue through the year".

    From MarketWatch: Foreclosure inventory down, new delinquencies up

    The percentage of mortgage loans somewhere in the foreclosure process was 4.57% in the second quarter, down from 4.63% in the first quarter; the percentage is still up from 4.3% a year ago. However, the percent of loans one payment behind is now a seasonally adjusted 3.51%, said Jay Brinkmann, the MBA's chief economist
    Note: I have not received the press release or materials. Hopefully I'll have more later today.

    Full post as published by Calculated Risk on August 26, 2010 (boomark / email).

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