CoreLogic’s December 2020 Loan Performance
Insights report was upbeat, citing positive signs of recovery after a rocky
year in which a pandemic and related job losses sent delinquency rates
skyrocketing. Last year started with the lowest share of loans 30 or more days
past due since the company began collecting the data in 1999. Then, as COVID-19
spread along with shelter-in-place directives, the rate doubled, going from 3.6 percent of all mortgages in March to 7.3 percent. As time passed, those early stage delinquencies transitioned into the serious category of 90 or more days past due, quadrupling the size of that bucket by August to 4.3 percent.

 

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.