by Calculated Risk on 8/26/2010 11:06:00 AM

On the MBA conference call concerning the "Q2 2010 National Delinquency Survey", MBA Chief Economist Jay Brinkmann said this morning:

Survey covers about 88% of mortgage market.

Mixed news in Q2.

Percent of loans in foreclosure down.

Foreclosure starts fell.

90+ day delinquent category dropped sharply. Some of this decline is because modifications were included as delinquent until the borrower had made several payments - and some of these borrowers with modifications are now being considered current.

However short term delinquencies are increasing again.

Delinquencies and foreclosure starts continue to move to prime fixed rate and FHA loans.

"Improvements are more of a hope". Some of the key factors leading to improvement "may not continue through the year".

From MarketWatch: Foreclosure inventory down, new delinquencies up

The percentage of mortgage loans somewhere in the foreclosure process was 4.57% in the second quarter, down from 4.63% in the first quarter; the percentage is still up from 4.3% a year ago. However, the percent of loans one payment behind is now a seasonally adjusted 3.51%, said Jay Brinkmann, the MBA's chief economist

Note: I have not received the press release or materials. Hopefully I'll have more later today.