Posted To: MND NewsWire

The Mortgage Bankers Association (MBA) reports that the percentage of non-current mortgages dropped by 35 basis points (bps) in the first quarter of 2021. According to MBA vice president Marina Walsh, it was the largest quarterly decline in delinquencies in the history of the Association’s National Delinquency Survey. The national delinquency rate for mortgage loans on one-to-four unit residences was at a seasonally adjusted rate of 6.38 percent at the end of the quarter. The rate includes loans in forbearance if borrowers are not making payments as agreed but does not include loans in the process of foreclosure. The delinquency rate peaked at 8.22 percent in the second quarter of 2020 and within three quarters has dropped by 184 bps to 6.38 percent. Despite the improvements, however, the overall…(read more)

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Published On: May 10, 2021 / Categories: Mortgage News /