The Epic American Credit and Bond Bubble Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Paul Kern	3/19/2008 10:32:58 AM
	of 110194

UPDATE: Home-Loan Delinquencies Continued Rise In February Last update: 3/19/2008 10:28:49 AM DOW JONES NEWSWIRES Standard & Poor's said home-related delinquencies continued to rise in February, with the biggest rate increase found on securities created last year. The ratings and research company issued delinquency rates for residential mortgage-backed securities created in 2005 through 2007 from home-equity lines of credit, closed-end second liens, prime jumbo mortgages, Alt-A and subprime loans. As of the February distribution date, S&P said delinquency rates on subprime deals were 36%, 34% and 24% of current total pool balances for 2005 through 2007, respectively. Those rates are up 4% to 10% from January. Cumulative losses after 12 months for the 2007 deals are up 65% from the same point for 2006 deals. For jumbo loans, those above $417,000, delinquency increases were led by a 15% jump on last year's deals from January. The delinquency-rate increase was also highest on 2007 transactions for closed-end second liens, Alt-A and home-equity lines of credit. For the home-equity lines, the delinquency rate for 2005 deals fell 2.2% from January. Delinquency rates have been increasing for a host of home-related loans as home prices have fallen - sometimes below the outstanding loan amount - and homeowners have had less incentive to keep up with payments. -By Kevin Kingsbury and Donna Kardos, Dow Jones Newswires; 201-938-2136; kevin.kingsbury@dowjones.com (END) Dow Jones Newswires March 19, 2008 10:28 ET (14:28 GMT)

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next