Defaults on second-lien mortgages have crept up on a year-to-year and a consecutive-month basis; and first-lien defaults are above where they were the previous month, but still below year-ago levels.
First-lien mortgage defaults in June were down 4 basis points from the previous month and 5 basis points from where they were the previous year at 0.6%.
Defaults on first-lien mortgages fell 5 basis points in May from the previous month, dropping to their lowest level in a year, according to the S&P/Experian Consumer Credit Default Index.
The Consumer Financial Protection Bureau said Experian sold consumers an "educational" credit score and falsely claimed in advertisements that the score was used by lenders to make credit decisions.
