The SLOWDOWN Continues In The Mortgage Segment … The Heartbeat Is Very Low
Foreclosure prevention is paying off for the GSEs. The GSEs prevented more than 49,000 foreclosures in the first quarter, an increase of nearly 5,000 preventions compared to Q4,. The total number of delinquent loans fell 15 percent in the first quarter of 2017. In Ohio, the number of seriously delinquent loans decreased 9 percent during the quarter. Florida’s serious delinquency rates dropped 8 percent; Texas, New Jersey, and Georgia by 7 percent. Total delinquent loans in Ohio dropped by 18 percent. Texas and Pennsylvania saw total delinquencies drop 16 percent in Q1.
Mortgage inspectors and property preservation mechanics are chasing fewer tasks. Mortgage inspection fees average about $4.