June 27th, 2012 
davidguide Since topping out in early 2010, the aggregate amount of severely delinquent mortgages has fallen by more than half. The improvement has been primarily concentrated in non-agency loans. Outstanding distressed loans are expected to return to pre-crisis levels within two years. As of May, $450 billion in residential first mortgages were at least 90 days past due or in foreclosure. The level of distressed loans has subsided substantially from the peak of $700 billion reached in January 2010. First mortgages originated between 2005 and 2007 accounted for 70 percent of the May total.
View full post on Mortgage Stories
Posted in 
Tags: 
