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Changing Trends in the Mortgage Industry

Mortgage News > Changing Trends in the Mortgage Industry
Date: 11/18/2010    Changing Trends in the Mortgage Industry

Numbers reported by the Mortgage Bankers Association reflect a change in recent industry trends.    The change in trend is manifested in the MBA’s third quarter report which revealed the number of households behind on their mortgage waned from last quarter as well as a slight rise in the number of foreclosures being pushed to the forefront of the banks to do lists.

Close to seven million homeowners, or 13.5% of the nation’s homeowners, are 30 days late or in the foreclosure process.  13.5% may seem high, but the number reflects a drop form last year’s third quarter report of 14.4%.

Other numbers that have dropped are that of homeowners seriously late on their loans, or more than 90 days late, which has dropped to 8.7%; the lowest level since the second quarter of 2009.
 

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