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Home Equity Overdues Rise.
Washington -- The number of home-equity loans and lines that were overdue increased sharply late last year, according to the American Bankers Association.
And that helped push the overall consumer loan delinquency rate at banks to a high not seen since 1992.
The delinquency rate on closed-end home-equity loans rose 11 basis points from the third quarter to 2.39% at the end of 2007, according to the ABA. The delinquency rate on home-equity lines of credit rose 12 basis points to 0.96%.
The delinquency rate for closed-end home-equity loans is at its highest level since the second quarter of 2005. And the delinquency rate on HELOCs is at its highest level since the fourth quarter of 1997, though the HELOC overdue rate remains the lowest among consumer credit categories tracked by the ABA.
All eight consumer loan types saw an increase in overdue rates, with the largest increase being posted by indirect auto loans.
That pushed the ABA's composite consumer delinquency rate to 2.65%, the highest level in 16 years.
James Chessen, chief economist for the ABA, said the rise in consumer credit delinquencies reflects a rapidly slowing economy.
- ABA REPORTS DECLINE IN THE CREDIT CARD DELINQUENCY RATE IN THE FOURTH...
- Newspaper article from: Cardline March 25, 2005 700+ words
...the same period in 2003, and ABA Senior Economist Keith Leggett...Leggett tells CardLine. The ABA published in the latest issue...of 2003. The decline in the delinquency rate in the fourth quarter also was...26%, Leggett says. The ABA, which is based in Washington...
- Delinquency Rate Falls.
- News wire article from: Mortgage Line Cornwell, Ted August 17, 2006 700+ words
...this year at banks, but the delinquency rate on home-equity lines of...basis points from the 2.07% delinquency rate at the end of 2005. However...loan category with the lowest delinquency rate in the ABA's quarterly delinquency...
- Delinquency rate on indirect loans skyrockets.(Brief article)
- Magazine article from: Automotive News Harris, Donna July 14, 2008 700+ words
...Bankers Association reports. The delinquency rate for so-called indirect loans...decrease was insignificant, said ABA chief economist James Chessen...fourth quarter of 2007 the highest delinquency rate since the ABA started keeping track in 1990...
- CREDIT CARD DELINQUENCY RATE SETS RECORD.(Brief Article)
- Newspaper article from: Cardline September 30, 2005 700+ words
The 30-day delinquency rate for credit card loans set a record in the second quarter, but the...pay off high-interest credit card debt. The Washington DC-based ABA gets its numbers from 350 of its member banks, a spokesperson tells...
- CREDIT CARD LOAN-DELINQUENCY RATE FALLS AGAIN.(Brief Article)
- Newspaper article from: Cardline July 1, 2005 700+ words
...experienced reductions in credit card delinquency rates, the ABA says. The rate during last year's fourth quarter was 4.2...during the first quarter. Among eight other types of loans the ABA analyzed, delinquency rates during the quarter for personal...
- Delinquency rate falls to lowest level in three years.(Business Alert)
- Magazine article from: Mortgage Banking January 1, 2004 700+ words
...adjusted (SA) third-quarter delinquency rate fell to its lowest level in three years. The SA delinquency rate for mortgage loans on one-to...point reduction in the total delinquency rate since the first quarter of 1990...
- Commercial Mortgage Delinquency Rate Rises Among Life Companies.
- Magazine article from: National Mortgage News Finkelstein, By Brad June 19, 2000 700+ words
The total delinquency rate for life company mortgage investments...jump in the commercial mortgage delinquency rate, according to data collected...there is an increase in the delinquency rate between the fourth quarter of...
- Overall Bank Loan Delinquency Rate Rises.
- News wire article from: YON - Yonhap News Agency of Korea July 22, 2004 700+ words
...saw its household and corporate loan delinquency rate inch higher, to 3.32 percent...domestic lenders. The bank's high delinquency rate stemmed from the fact that its loan...effort to cut unpaid loans. The loan delinquency rate for Woori Bank, the second-largest...
- OVERALL BANK LOAN DELINQUENCY RATE RISES IN KOREA.
- News wire article from: Asia Africa Intelligence Wire July 22, 2004 700+ words
...saw its household and corporate loan delinquency rate inch higher, to 3.32 per cent...domestic lenders. The bank's high delinquency rate stemmed from the fact that its loan...effort to cut unpaid loans. The loan delinquency rate for Woori Bank, the second-largest...
- Delinquency Rate Falls Again.
- Magazine article from: National Mortgage News March 31, 2003 700+ words
...recession, according to the MBA. The delinquency rate was slightly higher in the third quarter...quarter figure holds up as the peak delinquency rate for this cycle, it means delinquencies...about two quarters after the overall delinquency rate has peaked. Even on the foreclosure...
Source: HighBeam Research, Home Equity Overdues Rise.