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Prime vs. Subprime.(mortgage market forecast and trends)
At a time when subprime loans are increasing as a share of the mortgage market, the borderline between prime vs. subprime is becoming less and less clear. Several recent developments in the industry highlight this trend.
In April, representatives of the Mortgage Bankers Association, National Association of Mortgage Brokers and National Home Equity Mortgage Association all shared a podium during NHEMA's annual meeting, and leaders of all three organizations say they are in greater alignment on issues than ever before. The days when the MBA - the industry's largest trade group - focused almost exclusively on prime lending are long over. Today, prime and nonprime lenders often find common ground rather than intra-industry differences. Indeed, the days when companies focused exclusively on the prime or nonprime business may be coming to a close as well, with most of the largest players in the industry offering loan products suited to prime and nonprime borrowers.
But on the servicing side of the business, subprime is still a "high touch" segment of the business that requires more servicer time and attention than prime loans, with the expectation that delinquency and default rates will be considerably higher. Recent data continue to bear out that expectation.
The MBA, which has started breaking out prime and ...
- Delinquency rate falls to lowest level in three years.(Business Alert)
- Magazine article from: Mortgage Banking January 1, 2004 700+ words
...third-quarter 2002, the SA delinquency rate has decreased 11 basis points...drop in the conventional loan delinquency rate, prime conventional loans registered an SA delinquency rate of 2.45 percent in the third...
- Delinquency Rate Falls.
- Magazine article from: Mortgage Servicing News Cornwell, Ted August 1, 2006 700+ words
...The national delinquency rate dropped 29 basis...improvement across the prime credit spectrum...with ARM loans are prime credit customers...banks, but the delinquency rate on home-equity...with the lowest delinquency rate in the ABA's...70% 4.41% Prime FRMs 2.02% ...
- Wrath of Katrina felt in 3Q delinquency rate.(Briefing Book)
- Magazine article from: Mortgage Banking February 1, 2006 700+ words
...removed, the total delinquency rate decreased 13 basis...payments." The SA delinquency rate for ARM loans was up...quarter of 2005, the SA delinquency rate increased for all loan...14 basis points for prime loans, 43 basis points...
- 'Subprime Growth Having an Effect on Loan Performance': The main stumbling...
- Magazine article from: Origination News Garritano, Anthony July 1, 2004 700+ words
...The seasonally adjusted delinquency rate for mortgage loans in...the seasonally adjusted delinquency rate declined 36 basis points for prime loans, 121 basis points...with a year ago, the delinquency rate for subprime fixed...
- Mortgage delinquency rate falls to 4.28 percent.(Milwaukee Journal Sentinel)
- Newspaper article from: Knight Ridder/Tribune News Service Derus, Michele December 9, 2003 700+ words
...conservative states like Wisconsin. Prime borrowers have a 2.45 percent delinquency rate nationwide; 1.90 percent...apt to default were "sub-prime" borrowers, with an 11.71 percent delinquency rate nationally; higher in poverty...
- Mortgage delinquency rate falls to 4.28 percent.
- News wire article from: Milwaukee Journal Sentinel (via Knight-Ridder/Tribune News Service) December 9, 2003 700+ words
...conservative states like Wisconsin. Prime borrowers have a 2.45 percent delinquency rate nationwide; 1.90 percent...apt to default were "sub-prime" borrowers, with an 11.71 percent delinquency rate nationally; higher in poverty...
- Trends Suggest Delinquency Rate May Head Lower.
- News wire article from: Mortgage Line February 23, 2005 700+ words
...modest trend, but the delinquency rate on home loans appears...Currently, 17% of the prime credit quality loans...more so than in the prime," he said. Speaking...survey found that the delinquency rate for subprime loans declined...
- Delinquency rate dips.(FOCUS: Real Estate, Economic Development, Environment,...
- Magazine article from: Fairfield County Business Journal July 11, 2005 700+ words
...that the seasonally adjusted delinquency rate for mortgage loans on one-to...million bans (29.4 million prime loans, 5.1 million subprime...quarter. Over the year, the delinquency rate for prime ARM products is down 22 basis...
- Decline in Mortgage Delinquency Rate Bodes Well for National Economy.
- Newspaper article from: Knight Ridder/Tribune Business News January 8, 2003 700+ words
...percent in the second quarter. The delinquency rate hit a 10-year high of 4.83...homeowners with conventional prime loans, the mortgages given to...percent a decade ago. Although the delinquency rate for conventional mortgages rose...
- Jumbos See Higher Delinquency Rate.
- News wire article from: Mortgage Line July 5, 2007 700+ words
NEW YORK -- Prime jumbo mortgage performance continued...with the Moody's 60-plus-day delinquency rate index rising to 0.383% from January...vintage, which saw a 60-plus-day delinquency rate of 0.52% at 12 months of seasoning...
Source: HighBeam Research, Prime vs. Subprime.(mortgage market forecast and trends)