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Prime Loans Going 'Seriously Delinquent' At Quickest Pace

July 1, 2009 RSS Feed Print

The first-quarter mortgage metrics report released Wednesday by the Office of the Comptroller of the Currency and the Office of Thrift Supervision had all kinds of telling data. Among the most interesting was this finding:

Prime loans, which represented two-thirds of all mortgages in the portfolio, experienced the highest percentage increase in serious delinquencies, climbing by more than 20 percent from the prior quarter to 2.9 percent of prime mortgages.

The finding is another example of how the eroding labor market is playing a key role in driving mortgage delinquencies higher. And as the economy continues to shed jobs, additional borrowers with good credit will fall behind on their mortgage payments as well.

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Dear Woodenfrog of NJ,
I was ridiculed for not voting for that tall well educated silver tongued young man. I was made to feel that I wasn't cool, I wasn't progressive enough. I must have a problem voting for an old guy like McCain. While there is no Messiah! people, no matter which celebrity hands the winner the golden cup of success, what ever happened to people listening to what a guy says, what he promises, and how he explains just how he will accomplish his agenda? This has to be the worst spending Congress and senate and PRESIDENT! And it comes at the worst possible time. We have indebted ourselves to the world and it looks like they are calling the shots now. Universal healthcare, cap and trade, get used to renting (half the world does it). This is an attack on our system that the world has emulated for years. Yes, we let the young twenty somethings with the flashy cars sell the mortgage securities. Let's look to people with experience not voting "present" in politics. Whether they have white hair and wrinkles or not. If you wouldn't let them take over your bills at home, why on earth would you let them take over your government and your future! Protest, call your congressman and senators! Vote NO on spending!

redsunwest of TX 12:07AM July 04, 2009

By the way Obama, why don't you appoint a Czar to oversee all the Czars you are appointing?

woodenfrog of NJ 8:11AM July 03, 2009

I am a very old man, and I like to think somewhat wise as I have seen a lot in my life time. I tried to tell folks before the election that if they elected Obama, before a year was up they would be asking them selves "what the he$$ did we do". as he would really screw up this country. But as you see, I was wrong. "IT DID NOT TAKE A YEAR". Now all you that voted for him got what you deserve. Maybe next time you will listen to your elders. And maybe you should turn to the ones that did not vote for him and say you are sorry for causing them to lose their jobs. The next election don't listen to what a canidate is saying, listen to what he (or she) is NOT saying. We need to get rid of all the senators and congressmen (and women) that voted for all these STUPID things that Obama is trying to pass without even reading what they are voting on, and put folks in that are for the people, not someone that wants to line their own pockets. The same goes for state elections.

woodenfrog of NJ 7:59AM July 03, 2009

Prime Loans Going 'Seriously Delinquent' At Quickest Pace

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