Tag: mortgage

A recent study compiled by VantageScore® Solutions found that default risk associated with mortgage originations has improved. The likelihood that a borrower will become 90 or more days past due after a mortgage has been originated was 2.5 percent in 2011, far lower than in 2009, where it hovered at 7 percent. Get your VantageScore® credit score. Source: View the complete VantageScore Solutions 2011 Annual Validation study. VantageScore® is owned by VantageScore Solutions, LLC.

Even as interest rates remain at near-record lows, mortgage originations declined for the second quarter in a row in Q2 2011 to $268 billion, a 19 percent decline over the previous quarter. Refinance activity that spurred originations in 2010 has not been as prevalent this year. Listen to our recent Webinar on consumer credit trends and retail spending. Source: Experian-Oliver Wyman Market Intelligence Reports.  

A study released in October 2011 for the S&P/Experian Consumer Credit Default Indices showed that first mortgage default rates rose to 2.08 percent in October from September's 1.99 percent. Auto loans, second mortgages and bank cards all saw drops in their default rates. Looking at regions, Chicago saw the largest default rate increase, moving from 2.47 percent to 2.64 percent. Miami fell the most, to 4.16 percent, well below the near 19 percent default rate it had a little more than two years ago. Access previous issues of the S&P/Experian Consumer Credit Default Indices. Source: October 2011 S&P/Experian Consumer Credit Default Indices.