US DATA: MBA Q1 National Delinquency Survey finds total delinquency
rate for 1-4-fam res mortgages at 8.32%, up 7 bp from Q4. The total
delinquency rate excludes loans in the foreclosure process. On a
year-over-year basis, the delinquency rate decreased 174 basis points
from 10.06 percent at the end of the first quarter of 2010. By loan
type, the seasonally adjusted delinquency rate increased two basis
points for prime loans (from 5.48 percent to 5.50 percent), 92 basis
points for subprime loans (from 23.09 percent to 24.01 percent) and 26
basis points for VA loans (from 6.67 percent to 6.93 percent). The
delinquency rate decreased 24 basis points for FHA loans (from 12.27
percent to 12.03 percent). Details are on the MNI Main wire.