DSNews By: Brian Honea The U.S. Supreme Court ruled on Monday that an underwater second mortgage cannot be extinguished, or “stripped off,” as unsecured debt for a debtor in bankruptcy, according to theSupreme Court‘s website. In the cases of Bank of America v. Caulket andBank of America v. Toledo-Cardona, Florida homeowners David Caulkett and Edelmiro […]
Category: Default
Declining Default Rate Leaves Room to Loosen Underwriting Standards, Economist Says
DSNews: Author: Brian Honea January 7, 2015 The pristine performance of mortgage loans in the U.S. with a vintage of 2009 or later is an indicator that underwriting standards could be loosened, according to CoreLogic senior economist Molly Boesel. In an analysis entitled “What’s an Acceptable Level of Mortgage Default?” published in CoreLogic’s December 2014 […]
Default Rates Decline in April to Lowest Post-Recession Rate
Data through April 2014 showed a decline in the national default rate from March, according to S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices. The indices are a comprehensive measure of changes in consumer credit defaults, released monthly. The national composite default rate recorded its lowest post-recession figure of 1.11 […]
