According to first look data from Callahan & Associates, the industry posted a 22-basis points decrease in first mortgage delinquency as of September 30, 2013. First mortgage delinquency at credit unions nationwide decreased from 1.49% to 1.27% over the past year. While the total amount of first mortgage loans outstanding at credit unions increased, the amount of delinquent first mortgage loans decreased from the previous September levels. 35 states across the nation saw a decrease over the past 12-months in first mortgage delinquency as of September 2013.
Montana held the title for the best improvement in first mortgage delinquency as of September 2013. Credit unions in Montana saw a 336-basis-points decrease in first mortgage delinquency over the past year to stand at 2.16% as of third quarter 2013. Delaware was another state that experienced a more than a full one percentage point decrease in first mortgage delinquency. As of third quarter, Delaware credit unions’ first mortgage delinquency decreased to 2.88% from 4.00% last year.
leaderS in first mortgage delinquency improvement
Data As of September 30, 2013 for All Credit Unions in the U.S.
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Generated by Callahan & Associates' Peer-to-Peer Analytics