background

Category Archives: Foreclosures, Shadow Inventory

First-Quarter 2012 Shadow Inventory Update: National Liquidation Rates Moderate, While Regional Differences Widen

Erkan Erturk
Senior Director, Structured Finance
Standard & Poor’s Ratings Services
May 9 - 9:47 am
Comments: 1

Standard & Poor’s Rating Services’ estimate for the time it will take to clear the supply of distressed homes, or the shadow inventory, on the U.S. market fell just one month to 46 months in the first quarter of 2012. While national residential mortgage liquidation rates appeared stable in the first quarter of 2012, these [...]

Also posted in Economic Data | Tagged | 1 Comment

Debt De-Leveraging, Housing and the Recovery

David Blitzer
Chairman of the Index Committee
S&P Indices
April 12 - 12:58 pm
Comments: 0

Most houses are bought with mortgages and interest rates and the availability of mortgage money are key issues for the hoped-for housing recovery.  But the links among debts, housing and the economy run much deeper.  Debt levels and especially a surge in household debt, such as experienced with mortgages beginning in 2000, played a big [...]

Also posted in Consumer Credit, Economic Data, Mortgage Markets | Leave a comment

First and second mortgage default rates fall again in February 2012

Maureen Maitland
Vice President
S&P Indices
March 20 - 11:45 am
Comments: 1

On March 20th, S&P Indices and Experian released February data for the S&P/Experian Consumer Credit Default Indices, which measure consumer credit default rates. The data showed a decline in the composite index, led by a six basis point drop in first mortgage default rates. Second mortgage and bank card default rates fell by even more [...]

Also posted in Consumer Credit, Economic Data, Mortgage Markets | Tagged , , , , , , , | 1 Comment

Fourth-Quarter 2011 Shadow Inventory Update: Overall Declines Mask Big Regional Differences

Erkan Erturk
Senior Director, Structured Finance
Standard & Poor’s Ratings Services
March 5 - 4:26 pm
Comments: 1

Over the past year, two divergent pictures have developed as foreclosure timelines continued to widen in some states, while other states have been able to steadily work on clearing the shadow inventory. The large difference in liquidation rates between states grew during the fourth quarter of 2011. The increasing timelines are primarily due to extreme [...]

Also posted in Economic Data, Housing Data, Uncategorized | Tagged | 1 Comment

Foreclosures Continue to Decline

David Blitzer
Chairman of the Index Committee
S&P Indices
January 26 - 10:36 am
Comments: 2

RealtyTrac reports that foreclosure activity across the US in December and the full year 2011 dropped sharply. Foreclosure filings in 2011 totaled 2.7 million, down 34% from 2010 and 33% below 2009 and 19% below 2008.  Overall 1.45% of US homes experienced a foreclosure filing, about one in every 69 houses. Comparable percentages for earlier [...]

Posted in Foreclosures, Shadow Inventory | Tagged , , , , , , , , , | 2 Comments

Foreclosures in 2011: RealtyTrac Reports Full Year Data

David Blitzer
Chairman of the Index Committee
S&P Indices
January 12 - 11:16 am
Comments: 0

Nationally in 2011 1.9 million homes were in some stage of the foreclosure process representing 1.45% of the homes in the US — the lowest percentage in four years.  The good news is that this is down by about a third from 2010.  In 2010 2.23% of homes were in foreclosure compared to 2.21% in 2009 [...]

Also posted in Housing Data, Uncategorized | Tagged , | Leave a comment

Second consecutive increase in first mortgage default rates

Maureen Maitland
Vice President
S&P Indices
November 18 - 10:16 am
Comments: 1

On November 15, S&P Indices and Experian released October data for the S&P/Experian Consumer Credit Default Indices, which measure changes in consumer credit defaults. The data showed an increase in the composite index, led by an increase in first mortgage default rates. Auto loan, second mortgages and especially bank cards all saw pretty significant drops [...]

Also posted in Consumer Credit, Economic Data, Mortgage Markets, Other Housing Data | Tagged , , , , , , | 1 Comment

From the Chat: Questions about revisions, tiered price indices and home sales.

Maureen Maitland
Vice President
S&P Indices
July 27 - 1:30 pm
Comments: 0

As we have already stated, the July 26 chat session ended with some questions that we didn’t have time to answer or where we needed to check the data before we could answer them completely.  Over the next few days we will provide answers to as many of these as possible. Question:  “Can you please [...]

Also posted in Economic Data, Housing Data, New Home Sales, S&P/Case-Shiller Indices | Tagged , , , , , , , , , , , , , | Leave a comment

Prices and Foreclosures

David Blitzer
Chairman of the Index Committee
S&P Indices
July 14 - 5:24 pm
Comments: 0

It’s no surprise that falling prices are correlated with high foreclosure rates across the 20 cities in the S&P/Case-Shiller Home Price Indices.  Using data from RealtyTrac for the 20 cities, we  calculated a foreclosure rate over the period since home prices peaked in June 2006.  The data covers notices of default, auctions and REO (real estate [...]

Also posted in S&P/Case-Shiller Indices | Tagged | Leave a comment

The Backlog is the Problem

David Blitzer
Chairman of the Index Committee
S&P Indices
June 21 - 9:41 am
Comments: 0

Last  Sunday the New York Times reported that it may take 62 years to clear out all the foreclosures in New York State.  New York is one of the 23 states where the courts play a role in resolving defaults and foreclosures. In the other 27 states the process is much faster but it could [...]

Also posted in Consumer Credit, Mortgage Markets | Leave a comment

  • categories

  • Recent Comments

  • tags