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IPFS News Link • Housing

Mortgage Delinquencies by State: Percent and Number

• CalculatedRiskBlog.com
 
Here are two more graphs based on the MBA Q1 National Delinquency Survey released this morning. Earlier the MBA released a graph of the percent of loans "in foreclosure" by state. The following graph is similar, but includes all delinquent loans (sorted by percent seriously delinquent). Click on graph for larger image in graph gallery. Florida and Nevada have the highest percentage of serious delinquent loans, followed by New Jersey, Illinois, New York, Arizona and California. Comment: It has always bothered me that several southern states always have an elevated percentage of mortgage loans 30+ day delinquent (Mississippi, Alabama, Texas, Georgia, and Louisiana all have a large percentage light blue). Most of these borrowers always seem to catch up - they just make their payments late. That means the lenders generate plenty of late fees in these states. This might be something for the Consumer Financial Protection Bureau to investigate.

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