Residential

FHA serious delinquency rate shows signs of bottoming out

Serious delinquencies on Federal Housing Administration loans popular among first-time home buyers with affordability constraints have improved this year, but may be reaching a plateau.

Loans 90-days delinquent, in foreclosure or involved in bankruptcies remained stable at 4.31% in August. The seasonally adjusted estimate was 5.2% a year ago.

Even though delinquencies have been improving, FHA loans continue to make up a large percentage of the distressed loans in the larger market, according to Altisource Portfolio Solutions.

Read Article at NationalMortgageNews.com

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