The Sticky Business of NONPRIME SERVICING

Morse, Neil J.
February 2005
Mortgage Banking;Feb2005, Vol. 65 Issue 5, p26
This article discusses issues related to nonprime servicing sector. Blind faith aside, the servicing of nonprime loans may have gotten a little easier, if evolving performance statistics are any indication. Last fall, according to the Mortgage Bankers Association's (MBA's) National Delinquency Survey, year over-year delinquency rates dropped 135 basis points for nonprime loans, a rough patch last summer drove rates up 35 basis points in the quarter. Foreclosure rates, meanwhile, decreased 32 basis points for nonprime loans in 2004, but also spiked in the third quarter by some 18 basis points.


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