(Click to expand)

For every loan approved, three more loans are deteriorating, according to Lender Processing Services’ November monitor report.

LPS provides mortgage performance data and analytics. Its November report provides a summary of mortgage industry performance based on data collected through October.

Read the whole thing at HousingWire>

Join the conversation about this story »

See Also:

• Credit Corrosion Continues With Bank Delinquencies At A Record
• CMBS Update: $32.6 Billion In October Delinquencies (504% YoY Increase)
• Good News: Credit Card Delinquencies Are Falling

I know, I know. Subprime is so, like, 2007. And most of the financial press has moved onto sexier mortgage words like “option ARMs,” or “FHA loss reserves.”

That said, I thought it would be interesting to dive back into subprime waters, taking a granular look at individual deal performance using November remittance data from that old standby, the ABX. (For those that don’t recall, the ABX index was launched by Markit in 2006 to track the private-party subprime RMBS market — and it allowed some hedge funds an easy mechanism to short the market for subprime mortgages.)

We decided to take a look all 81 different deals across the 2006 and 2007 vintages within the ABX, comparing month-to-month percentage changes in both 60+ day delinquencies (not yet in foreclosure) and properties in foreclosure status.

Read the whole thing at HousingWire >>

Join the conversation about this story »

See Also:

• Citi: The Commodity Collapse Could Be "Subprime Part II"
• California Housing Market Continues To Recover, Befuddling Bears
• Latest Facts About The State Of The Housing Market