Delinquencies on state HFA mortgages hit record high

The delinquency rate among loans from state housing finance agencies reached 7.5% at the end of 2010, up a full percentage point from the previous quarter and the highest rate on record, according to Standard & Poor’s.

While analysts do not expect the rising delinquencies to cause negative rating actions, they warned deteriorating loan performance could continue “for several years.” The delinquency rate on the 34 HFA whole-loan bond programs exceeded those of comparable state loans for the second quarter in a row. It’s also the third consecutive quarter more than 20 HFA programs had delinquencies increase.

Click HERE For More Information | HousingWire

About sikoralaw

Sikora Law has operations in Michigan and Ohio. With a network of attorney relationships in multiple states, we combine the friendly familiarity of a small firm with the institutional knowledge and capabilities generally only found at a large firm. Sikora Law has the resources to deal with your situation with the right lawyer – or the right team of lawyers – and provide reliable, comprehensive, and responsive legal representation . We combine experience, creativity, and technology to efficiently and effectively protect our clients' interests and meet their goals.
This entry was posted in Mortgage Industry, Property Law and tagged , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s