The average age of newly delinquent loans is higher today than in 2007, according to a recent Lender Processing Services report. LPS recently pegged the average age of newly delinquent loans at 46 months, compared to an average of 27 months back in January 2007. The 346,000 borrowers who were delinquent for the first time in January of this year represented 40% of all newly delinquent loans seen during that month, according to LPS.
The fintech's chief executive, Michael Tannenbaum, explains why strategies it's been using primarily in the home equity market have broader implications.
Attom's data adds to signs that the market's loan performance buffer is solid but thinning in some areas, and shows the trend affects both ends of the market.
National Mortgage News is now accepting nominations for its annual Best Mortgage Companies to Work For program.
The new 47-page filing abandons the Racketeer Influenced and Corrupt Organizations Act allegations brought up in the previous 100-plus-page document.
The company is the third mortgage lender in recent months to start or reestablish its business sourcing loans from brokers, with one potential entrant to come.
The ex-CEO began a formal solicitation of shareholders after blaming his initial claims of majority support on information provided by in-house counsel.
