Eclipse Authors: Pat Romanski, Elizabeth White, Liz McMillan, David H Deans, JP Morgenthal

Related Topics: Eclipse

Eclipse: Article

Mortgage Delinquencies Increase in the 4th Quarter 2006

Mortgage Delinquencies Increase in the 4th Quarter 2006

HONOLULU, HI -- (MARKET WIRE) -- 03/30/07 -- The delinquency rate for mortgage loans on one- to four-unit residential properties in Hawaii increased 42 basis points, while the percentage of mortgages in the foreclosure process rose 8 basis points in the 4th quarter of 2006.

The delinquency rate for loans on one- to four-unit residential properties in Hawaii rose 42 basis points to 2.40 percent during the 4th quarter. The percentage of loans in which foreclosure was started during the quarter rose 6 basis points to 0.21 percent, while the percentage of loans in the foreclosure process at the end of the quarter rose 8 basis points to 0.34 percent. "While the state delinquency is rising, this is still half of the national average," said Russell Miyashiro, President of the Mortgage Bankers Association of Hawaii. "People must remember that we are coming off a period of extremely low delinquencies so nearly all the statistics are showing a rise."

The delinquency rate varied for each of the four loan types during the 4th quarter. The rate of prime loans was 1.43 percent, up 28 basis points from the previous quarter; the rate of subprime loans was 7.87 percent, up 128 basis points from the previous quarter; and the rates for FHA and VA loans were 7.10 percent and 2.73 percent, up 80 basis points for FHA loans and 36 basis points for VA loans.

The inventory of loans in the foreclosure process in Hawaii at the end of the quarter varied by loan type as well. The percentage of prime loans in foreclosure increased 1 basis point to 0.10 percent, the percentage of subprime loans in foreclosure increased 57 basis points to 1.84 percent, and the percentage of FHA loans in foreclosure decreased 4 basis points to 0.81 percent. The percentage of VA loans in foreclosure increased 10 basis points to 0.36 percent.

On a national level, the delinquency rate on one- to four-unit residential properties was 4.95 in the 4th quarter, up 28 basis points from the last quarter. The percentage of loans in which foreclosure was started during the quarter increased 8 basis points to 0.54 percent, while the percentage of loans in the foreclosure at the end of the quarter rose 14 basis points to 1.19 percent. Note: The national delinquency rate and percentage of foreclosures started are seasonally adjusted numbers. The state-level information quoted is not seasonally adjusted.

The above data was obtained in cooperation with the Mortgage Banker's Association of America (MBA), which produces the National Delinquency Survey (NDS). The NDS, which has been conducted since 1953, covers more than 38 million loans on one- to four-unit residential properties, representing about 80 percent of all first-lien residential mortgage loans outstanding in the U.S. Loans surveyed were reported by approximately 140 lenders, including mortgage bankers, commercial banks and thrifts.

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry. The Mortgage Bankers Association of Hawaii represents the state mortgage industry. For additional information, visit www.mortgagebankers.org.

Russell Miyashiro
Mortgage Bankers Association of Hawaii

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.

IoT & Smart Cities Stories
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
JETRO showcased Japan Digital Transformation Pavilion at SYS-CON's 21st International Cloud Expo® at the Santa Clara Convention Center in Santa Clara, CA. The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
If a machine can invent, does this mean the end of the patent system as we know it? The patent system, both in the US and Europe, allows companies to protect their inventions and helps foster innovation. However, Artificial Intelligence (AI) could be set to disrupt the patent system as we know it. This talk will examine how AI may change the patent landscape in the years to come. Furthermore, ways in which companies can best protect their AI related inventions will be examined from both a US and...
The challenges of aggregating data from consumer-oriented devices, such as wearable technologies and smart thermostats, are fairly well-understood. However, there are a new set of challenges for IoT devices that generate megabytes or gigabytes of data per second. Certainly, the infrastructure will have to change, as those volumes of data will likely overwhelm the available bandwidth for aggregating the data into a central repository. Ochandarena discusses a whole new way to think about your next...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of ...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)