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Keep up with the latest mortgage industry news with these informative links:


http://www.mortgageservicingnews.com/
http://www.nationalmortgagenews.com/
http://www.mortgage-technology.com/
http://www.mbaa.org/ResearchandForecasts/
https://www.hmpamin.com/portal/index.html



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I read, sort and filter through all the mortgage critical material published daily, so you don't have to - must read posts are below...
                                       

                  

Home Mortgage Delinquency Linked to Loss of Income

Freddie Mac What's driving home mortgage delinquencies?
 
 
According to MBA data, nearly three quarters of all delinquencies among prime borrowers are due to unemployment and the curtailment of income (58%) or excessive obligation (16%).
 
Data below represents prime borrowers who are delinquent on conventional conforming loans owned by Freddie Mac and had successful contact with their servicer and requested loss mitigation assistance.
 

Hardship Reasons                                                            2009

Unemployment or curtailment of income

58.3%

Excessive obligation                                                           

16.3%

Illness or death in the family

11.2%

Marital difficulties

  5.0%

Inability to sell or rent property

  2.8%

Employment transfer or military

  1.7%

Property problem or casualty loss

  0.9%

Extreme hardship

  0.1%

All other reasons

  3.7%

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