Sentences with phrase «equity loan delinquencies»
The main instigator for the increase in the delinquency rate as shown by the composite survey was the rise of home equity loan delinquencies.
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On the upside, home - related delinquencies, including home equity loans and lines of credit, fell, according to the ABA.
The ABA's Consumer Credit Delinquency Bulletin tracks 11 loan categories, including home equity lines of credit, auto loans and credit cards.
The ABA's composite ratio tracks delinquencies in eight closed - end installment loan categories including personal, home equity and direct auto loans.
A big reason for the latest decline was the 30 - day delinquency rate on home equity loans, which dropped four basis points from the first quarter to 2.70 %.
«We ascribe the higher levels of delinquencies in the 2006 vintage to the increasingly riskier credit profile of borrowers, characterized by an increasing proportion of highly leveraged homeowners who obtained their loans through limited verification of income sources and with little equity in their homes,» the rating agency said.
Delinquency rates for other forms of debt (student loans, home equity lines of credit, and auto loans) were at relative highs as well.
Home equity loans have a higher delinquency rate than all other types of consumer loans, according to data from the American Bankers Association.
The lowest delinquency rates, at the end of 2013, were reported on auto loans and home equity loans at 3.4 percent and 3.2 percent, respectively.
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Depending upon the economy, the delinquency and default rate, Fannie Mae will extend subprime mortgage loans to select group of borrowers that have credit or equity challenges but are able to show a positive trajectory.
The ABA quarterly survey of consumer loans reflected delinquency rates based on a composite of several types of consumer loans such as boats, autos, home improvements, some home equity line of credit loans increased to 2.42 percent in the first three months of this year.
The delinquency rates for mortgages, home equity lines of credit (HELOCs), auto loans, and credit cards peaked noticeably in the years following the recession, and have since fallen.