Beginning of the End?

The delinquency rate for mortgage loans on
one-to four-unit residential properties fell to a
seasonally adjusted rate of 9.47 percent of all
loans outstanding as of the end of the fourth
quarter of 2009, down 17 basis points from the
third quarter of 2009 and up 159 basis points from
one year ago, according to the Mortgage Bankers
Association’s (MBA) National Delinquency Survey.
The non-seasonally adjusted delinquency rate
increased 50 basis points from 9.94 percent in the
third quarter of 2009 to 10.44 percent this quarter.
The delinquency rate includes loans that are at
least one payment past due but does not include
loans in the process of foreclosure. The percentage
of loans in the foreclosure process at the end
of the fourth quarter was 4.58 percent, an increase
of 11 basis points from the third quarter of 2009
and 128 basis points from one year ago.

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