MH Loan Performance Shines

The Wisconsin Housing Alliance tells data gathered by the American Banker’s Association’s (ABA) Consumer Credit Delinquency Bulletin loan delinquencies for manufactured housing dropped to 3.76% from 4.08% during Q4 2011. While the ABA says a delinquency is 30 or more days past due, TransUnion, the third largest credit bureau in the nation, defines delinquency as being 60 days or more past due, and says at the end of Q4 2011 the national mortgage delinquency rate rose to 6.01%. This represents an increase from 5.88% for the third quarter 2011. Meanwhile, FHA reported its serious delinquency rate at the end of Feb. 2012 was 9.7%. Fannie Mae says 3.90% of its single-family mortgages were seriously delinquent at the end of Jan. 2012, and Freddie Mac reports for the same date 3.59% of its mortgages were seriously delinquent.

(Image credit: MoneyControl)

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