Items Tagged with 'Delinquent'


  • Freddie Mac sells $22.4 million NPLs to minority, woman-owned business

    Majority of loans in loss mitigation or foreclosure
    Freddie Mac announced it sold $22.4 million in deeply non-performing loans to VRMTG ACQ, a minority, woman-owned business. Freddie Mac explained the loans in the pool have been delinquent for an average of more than two years, and are therefore more likely to have been evaluated for or are in various stages of loss mitigation.
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  • CMBS Delinquencies Pass 4%, Says Trepp

    Overall delinquencies on commercial mortgage-backed securities (CMBS) surpassed 4% by the end of August, as multifamily and lodging -- or hotel -- sectors remain weak. The percentage of commercial loans 30 or more days delinquent rose 32bps to 4.03% at the end of August, according to Trepp's September CMBS performance report. Multifamily (MF) loans led overall weak performance, rising 108bps to a 6.8% delinquency rate. Lodging (LO) loans followed closely at a 6.15% delinquency rate.
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  • Cure Rates Plunge Among Prime RMBS, Fitch Says

    A slower cure rate among delinquent loans erased improvements in the number of loans rolling into delinquency status among US residential mortgage-backed securities (RMBS), according to Fitch Ratings. Cure rates decrease as fewer delinquent loans return to current payment status each months. The prime cure rate slipped from an average 45% during '00-'06 to 6.6% today. Alt-A cure rates dropped to 4.3% from an average 30.2% and subprime cure rates fell to 5.% from an average 19.4%.
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  • Foreclosures Surge as Stabilization Drifts Further Away

    The housing market may not stabilize until Q111, the Mortgage Bankers Association said today, upon release of its National Delinquency Survey, which shows foreclosure activity hit an all-time high in Q109. The MBA is now in its 40th year of releasing the survey. Earlier predictions pointed towards a housing market recovery happening sooner, but the MBA says this is unlikely until at least the end of 2010.
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