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ICE said the increase is largely due to calendar effects and not a general deterioration in borrower performance. Similar calendar-driven increases occurred in 2014, 2008 and 2003, each of which saw a larger increase in November delinquencies than this year’s increase. “While topline delinquency figures show a sharp increase, we have seen similar spikes in […]
ICE found overall mortgage performance was strong in October, with the national default rate falling 7 basis points (bps) to 3.34%. That is 11 basis points lower than last year and 53 basis points lower than the pre-pandemic benchmark of October 2019. Andy Walden, head of ICE’s mortgage and housing market research, said the modest […]
The findings are detailed in TransUnion’s e-book, “Trapped by Tuition: The New Reality of Renting.” More than 2.2 million borrowers saw their credit scores drop 100 points or more in just a few months, and one in three borrowers making payments are now more than 90 days delinquent, TransUnion found. One in five borrowers has […]
The number of bankruptcies rose to 42,000 in September – 43.5% higher than in August and an increase of 60.5% year on year. For the full third quarter, bankruptcies totaled 103,000, up 23% year-over-year, but still 18% below Q3 2019 levels. ICE’s long-term rates, which combine delinquencies and active foreclosures, improved year over year for […]
