TransUnion reports that national mortgage delinquencies fall by 1.74 percent in 2010 opening quarter which marks first decline in delinquency since 2006.  TransUnion’s quarterly analysis of trends in the mortgage industry found that national mortgage loan delinquency rate (the ratio of borrowers 60 or more days past due) decreased in the first quarter of 2010 after steady increases for 12 consecutive quarters. The delinquency rate dropped to 6.77 percent — a level slightly lower than in the fourth quarter of last year.  This statistic, which is traditionally seen as a precursor to foreclosure, reflects a decrease of 1.74 percent from the previous quarter’s 6.89 percent average. Year over year, mortgage borrower delinquency is still up approximately 30 percent (from 5.22 percent).

TransUnion: National Auto Loan Delinquency Rates Fall More Than 18 Percent in the First Quarter of 2010: The national 60-day auto delinquency rate (the ratio of auto loan borrowers 60 or more days past due) fell 18.52 percent between the fourth quarter of 2009 and first quarter of 2010 to 0.66 percent, according to a TransUnion quarterly analysis of trends in the auto industry. The year-over-year delinquency rate at the national level fell by 20.48 percent in the first quarter.

The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data available on TransUnion’s Web site. Information for this analysis is culled quarterly from approximately 27 million anonymous, randomly sampled, individual credit files, representing approximately 10 percent of credit-active U.S. consumers and providing a real-life perspective on how they are managing their credit health. 

BIIA Newsletter June I – 2010 Issue