Wednesday, December 12, 2012

Lawler: Delinquency/Foreclosure Rates by State for Five Servicers

by Bill McBride on 12/12/2012 04:08:00 PM

From economist Tom Lawler: “Free” Data on Delinquency/Foreclosure Rates for First and Second Liens by State for Five “Mortgage Settlement” Servicers

On “The Office of Mortgage Settlement Oversight,” there is a report that can be downloaded that shows the first- and second-lien servicing portfolios for Ally, Bank of America, Citi, Chase, and Wells by delinquency status as of September 30th, 2012 – both nationally and by state.

Below are some summary stats (stated as a % of number of loan) for each servicer.

The data highlight how truly badly Bank of America’s servicing portfolio is performing, with the “DLQ 180+” and “in Foreclosure” %’s suggesting unusual “slowness” in resolving seriously-delinquent loans (Chase’s “in foreclosure” % suggests problems at that institution as well).

The reports (which, again, have data by state) are available here. (click on “servicer performance data”). Here is the spreadsheet.

1st Lien Portfolio Bank of AmericaChaseAllyCitiWells
Current (0-29)84.44%87.29%88.85%89.43%91.91%
DLQ 30-593.07%3.62%3.48%3.14%2.50%
DLQ 60-1792.08%2.07%2.47%2.11%1.74%
DLQ 180+3.27%0.51%0.49%1.13%0.70%
Bankruptcy2.33%1.46%1.65%1.69%0.80%
Foreclosure4.81%5.06%3.06%2.50%2.35%
Total Active Portfolio100.00%100.00%100.00%100.00%100.00%
      
2nd Lien Portfolio Bank of AmericaChaseAllyCitiWells
Current (0-29)92.81%95.19%93.33%93.18%95.12%
DLQ 30-591.48%1.31%1.87%1.64%0.80%
DLQ 60-1791.65%1.27%2.07%1.96%1.01%
DLQ 180+1.71%0.30%0.46%0.61%0.42%
Bankruptcy2.15%1.49%2.15%2.30%1.98%
Foreclosure0.20%0.45%0.13%0.31%0.66%
Total Active Portfolio100.00%100.00%100.00%100.00%100.00%

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