What Drives Early-Stage Delinquency Rates?

first_img What Drives Early-Stage Delinquency Rates? Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Foreclosure, News Subscribe Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Best Markets For Residential Property Investors 2 days ago Delinquency rates have been declining around the U.S., but not for everyone, according to the latest Mortgage Monitor report from Black Knight. Early-stage delinquencies have been on the rise, and these increases were the most pronounced among first-time homebuyer loans.“We’ve seen early-stage delinquencies rise over the last several years, with the increase being driven primarily by purchase loans,” said Black Knight Data & Analytics President Ben Graboske. Black Knight’s data reveals that the increase has primarily been driven by a rise in early-stage delinquencies among purchase loans.Nearly 1% of Q1 2019 originations were delinquent six months post-origination. However, the report notes that while less than a third of the 2000-2005 delinquency average of 2.93%, this figure is up more than 60% over the past 24 months and the highest since 2010.Additionally, despite rising early-stage delinquencies among first-time homebuyers, mortgage performance has been improving overall. According to Black Knight, strong performance in September saw the national delinquency rate ticking up just 0.08% seasonally, a 2% increase from one month prior and less than half the seasonal increase typically seen for September over the past 19 years.“Though there has been some softening in GSE purchase loan performance, it hasn’t been to the extent seen among entry-level buyers,” Graboske adds. “All in all, first-time homebuyer originations combined between the GSEs and GNMA increased by nearly 50% between 2014 and 2018. However, whereas first-time homebuyers represent just over 40% of GSE purchase loans, they make up 70% of the GNMA purchase market.”The national delinquency rate remains within 0.17%, and is 1.13% below its pre-recession (2000-2005) average. However, the rate of improvement has begun to slow noticeably. Excluding hurricane-impacted areas, the six-month average annual rate of decline had narrowed to less than 1% in recent months, suggesting that while performance remains strong, we may be nearing the trough in the national delinquency rate. Serious delinquencies continue to fall as well, and are now down 14% from last September, the lowest serious delinquency rate since June 2006. Foreclosure sales are down 14% year-over-year. Sign up for DS News Daily Previous: FHFA Seeks Input on Universal Mortgage-Backed Securities Practices Next: The Rise of the Mid-Size Single Family-Rental Investor Delinquency Foreclosure mortgage 2019-11-04 Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Related Articles Home / Daily Dose / What Drives Early-Stage Delinquency Rates? November 4, 2019 1,039 Views Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post About Author: Seth Welborn Tagged with: Delinquency Foreclosure mortgage Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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Pacquiao lands Down Under, tells Horn to be ready

first_img(REUTERS) – Eight-division world champion Manny Pacquiao concedes his next opponent Jeff Horn is a bit of an unknown quantity but has told the Australian he needs to be in peak condition to make sure their WBO welterweight title fight pleases fight fans Down Under.Pacquiao made a low-key entry to Australia yesterday, touching down at Brisbane airport for a promotional tour for their July 2 bout at Lang Park and speaking briefly to reporters before being whisked away by handlers.“I don’t know much about him, but I know he’s a fighter,” Pacquiao told local media.“I haven’t watched his fights yet, but I’m going to get his last three fights and watch it.“My message for him is to work hard, and make sure you’re 100 percent conditioned on July 2, so we can give a good fight, we can entertain people.”The fight against Horn (16-0-1) will be the 38-year-old Pacquiao’s first since his unanimous decision victory for the title over American Jessie Vargas in Las Vegas last November.Pacquiao had previously agreed to an April fight against Briton Amir Khan in the United Arab Emirates but his promoter Bob Arum said last month it had been postponed after the $38 million offer for the bout failed to materialise.The Horn-Pacquiao fight is eagerly anticipated in Australia and will be the biggest boxing event held in the country in decades.Organisers expect a crowd of over 50 000 to cram into Lang Park, which regularly hosts domestic and international rugby and soccer matches.Dean Lonergan, a director at promoter Duco Events, hoped the bout would revitalise boxing in Australia.“It’s been in the doldrums for some time,” Lonergan said in comments published by state media ABC.“I think you’ll find this will be the biggest fight in Australian history and you’ll see the underdog (Horn) come through, and there’s nothing like Australians supporting their own guys when they’re underdogs.”Manny Pacquiao of the Philippines celebrates after defeating Jessie Vargas of Las Vegas to become WBO welterweight champion at the Thomas & Mack Center in Las Vegas, Nevada, U.S., November 5, 2016. (REUTERS/Las Vegas Sun/L.E. Baskow)last_img read more

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Football: Defense aware of last season’s second half against Iowa

first_imgThe Wisconsin football team nearly squandered a 16-point lead on the road in Iowa City last season.But the Badgers held on, despite then-Iowa quarterback Jake Rudock scorching the Badgers defense in the second half.Rudock and the Hawkeye offense had the UW defense on its heels for nearly the entire final 30 minutes of the Nov. 22, 2014, matchup.Other than punting on their first offensive drive of the half, the Hawkeyes scored touchdowns on their final three drives of the game.Defensive coordinator Dave Aranda said the Badgers will have to take that experience and positively translate it on the field this Saturday.“It’s a reference point if anything … we’re seeing what we did good [and] we’re seeing what we didn’t do good,” Aranda said.Rudock finished 20-for-30 with 311 yards and two touchdowns through the air, with both touchdowns and 212 yards coming in the second half.Outside linebacker Joe Schobert, who is currently tied for the nation’s lead this season in tackles for loss (9.5) said UW will have to perform better in the pass game this time around.“Last year, they obviously took advantage of the pass game, one-on-one matchups,” Schobert said. “Definitely now in preparation for this week we got to improve on what we did last year in different aspects whether it’s pass rush or coverage.”Darius Hillary was the victim of a pass interference call early in the fourth quarter that set the Hawkeyes up at the two-yard line, and they scored the next play to make it 19-17.This time around, Hillary said the Badgers have to hold the same intensity for the entirety of the game, and expects Saturday’s matchup to come down to the final quarter once again.“We got a little laxadasical, myself included,” Hillary said. “I think we just have to come out and be able to finish a game.”last_img read more

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