US DATA: Q2 MBA National Delinq Survey says delinquency rate for
mortgage loans on one-to-four-unit residential properties increased to a
seasonally adjusted rate of 8.44 percent of all loans outstanding as of
the end of Q2, +12 bps from Q1 but -141 bps YOY. The NSA delinquency
rate increased 32 basis points to 8.11 percent this quarter from 7.79
percent last quarter. The percentage of loans on which foreclosure
actions were started during the second quarter was 0.96 percent, down 12
basis points from last quarter and down 15 basis points from one year
ago. The delinquency rate includes loans that are at least one payment
past due but does not include loans in the process of foreclosure. The
percentage of loans in the foreclosure process at the end of the second
quarter was 4.43 percent, down 9 basis points from the first quarter and
14 basis points lower than one year ago. The serious delinquency rate,
the percentage of loans that are 90 days or more past due or in the
process of foreclosure, was 7.85 percent, a decrease of 25 bps.