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Mortgage Delinquency Rates Down Dramatically in 3rd Quarter

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Services for Real Estate Pros

Third Quarter 2011 National Mortgage Delinquency Survey 

The NDS is one of the most recognized sources for residential mortgage delinquency and foreclosure rates. Based on a sample of approximately 44 million mortgage loans serviced by mortgage companies, commercial banks, thrifts, credit unions and others, NDS provides quarterly delinquency and foreclosure statistics at the national, regional and state levels.

The third quarter 2011 report shows that the seasonally adjusted delinquency rate for mortgage loans on one- to four-unit residential properties fell to 7.99 percent in the third quarter of 2011. This is the lowest level recorded since the fourth quarter of 2008. The third quarter seasonally adjusted rate of 7.99 percent is a decrease of 45 basis points from the second quarter of 2011 and 114 basis points from one year ago. The non-seasonally adjusted delinquency rate increased nine basis points to 8.20 percent this quarter from 8.11 percent last quarter.

Delinquency and foreclosure measures are broken out into loan type (prime, subprime, VA and FHA) and by fixed- and adjustable-rate products. At each geographic classification, there are seven measures: total delinquencies, delinquency by past due category (30-59 days, 60-89 days and 90 days and over), new foreclosures, foreclosure inventory and seriously delinquent. The total number of loans serviced each quarter, as compiled through the survey, is also included in the data.

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