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Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
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Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
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OTS: Credit Quality Improves For Fourth Consecutive Quarter
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
OTS: Credit Quality Improves For Fourth Consecutive Quarter
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
OTS: Credit Quality Improves For Fourth Consecutive Quarter

April 5, 2011 (Jeff Alan)
mortgage-OTSsign-image
Credit quality of first lien mortgages improved in the fourth quarter of 2010, as the percentage of seriously delinquent mortgages declined for the fourth consecutive quarter, according to the quarterly report released by the Office of Thrift Supervision (OTS). It was the lowest level seen since the second quarter of 2009.

The report covers about 63 percent of all first-lien mortgages in the country, worth $5.7 trillion in outstanding balances.

The OTS report showed that 87.6 percent of the 32.9 million loans in the portfolio were current and performing at the end of the quarter. Although mortgage delinquencies remain at elevated levels, the overall quality of the mortgages in the portfolio improved from the previous quarter.

The OTS also predicts that new and completed foreclosures are expected to increase in upcoming quarters as lenders complete reviews of their foreclosure processes brought on by the “robo-signing” controversy. This has already led to an increase in foreclosure inventories as new foreclosures outpaced completed foreclosures. The report says foreclosure inventory increased 7 percent to 1,290,253 in the fourth quarter representing 3.9 percent of all serviced loans.

Completed foreclosures decreased by nearly 50 percent to 95,067, while newly initiated foreclosures increased by almost 8 percent to 352,318 compared to the previous quarter.

Loan modifications also increased substantially in the fourth quarter. Mortgage servicers initiated more than three times as many home retention actions as completed home forfeiture actions. During the past five quarters, mortgage servicers initiated nearly 2.7 million home retention actions, 473,415 in the fourth quarter alone, compared to 146,132 home forfeiture actions in the same quarter.

Modifications made during the quarter reduced payments by an average of $414 per month with HAMP modifications reducing payments by an average of $587 and private modifications reducing monthly payments by an average of $351.

The report notes that 57 percent of the modifications made since January 2008 in which the mortgage payment was reduced by 10 percent or more were current and performing at the end of the quarter of 2010, which means 47 percent were not.

However, by contrast, only 34 percent of the mortgages in that same time period in which the payment was reduced by less than 10 percent were current and performing, which means 66 percent are not.

Tags: OTC, credit quality, first lien mortgage, mortgage delinquencies, foreclosures, foreclosure inventories, loan modifications, mortgage servicers, HAMP

Sources:
Office of Thrift Supervision

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

April 5, 2011 (Jeff Alan)
mortgage-OTSsign-image
Credit quality of first lien mortgages improved in the fourth quarter of 2010, as the percentage of seriously delinquent mortgages declined for the fourth consecutive quarter, according to the quarterly report released by the Office of Thrift Supervision (OTS). It was the lowest level seen since the second quarter of 2009.

The report covers about 63 percent of all first-lien mortgages in the country, worth $5.7 trillion in outstanding balances.

The OTS report showed that 87.6 percent of the 32.9 million loans in the portfolio were current and performing at the end of the quarter. Although mortgage delinquencies remain at elevated levels, the overall quality of the mortgages in the portfolio improved from the previous quarter.

The OTS also predicts that new and completed foreclosures are expected to increase in upcoming quarters as lenders complete reviews of their foreclosure processes brought on by the “robo-signing” controversy. This has already led to an increase in foreclosure inventories as new foreclosures outpaced completed foreclosures. The report says foreclosure inventory increased 7 percent to 1,290,253 in the fourth quarter representing 3.9 percent of all serviced loans.

Completed foreclosures decreased by nearly 50 percent to 95,067, while newly initiated foreclosures increased by almost 8 percent to 352,318 compared to the previous quarter.

Loan modifications also increased substantially in the fourth quarter. Mortgage servicers initiated more than three times as many home retention actions as completed home forfeiture actions. During the past five quarters, mortgage servicers initiated nearly 2.7 million home retention actions, 473,415 in the fourth quarter alone, compared to 146,132 home forfeiture actions in the same quarter.

Modifications made during the quarter reduced payments by an average of $414 per month with HAMP modifications reducing payments by an average of $587 and private modifications reducing monthly payments by an average of $351.

The report notes that 57 percent of the modifications made since January 2008 in which the mortgage payment was reduced by 10 percent or more were current and performing at the end of the quarter of 2010, which means 47 percent were not.

However, by contrast, only 34 percent of the mortgages in that same time period in which the payment was reduced by less than 10 percent were current and performing, which means 66 percent are not.

Tags: OTC, credit quality, first lien mortgage, mortgage delinquencies, foreclosures, foreclosure inventories, loan modifications, mortgage servicers, HAMP

Sources:
Office of Thrift Supervision

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

April 5, 2011 (Jeff Alan)
mortgage-OTSsign-image
Credit quality of first lien mortgages improved in the fourth quarter of 2010, as the percentage of seriously delinquent mortgages declined for the fourth consecutive quarter, according to the quarterly report released by the Office of Thrift Supervision (OTS). It was the lowest level seen since the second quarter of 2009.

The report covers about 63 percent of all first-lien mortgages in the country, worth $5.7 trillion in outstanding balances.

The OTS report showed that 87.6 percent of the 32.9 million loans in the portfolio were current and performing at the end of the quarter. Although mortgage delinquencies remain at elevated levels, the overall quality of the mortgages in the portfolio improved from the previous quarter.

The OTS also predicts that new and completed foreclosures are expected to increase in upcoming quarters as lenders complete reviews of their foreclosure processes brought on by the “robo-signing” controversy. This has already led to an increase in foreclosure inventories as new foreclosures outpaced completed foreclosures. The report says foreclosure inventory increased 7 percent to 1,290,253 in the fourth quarter representing 3.9 percent of all serviced loans.

Completed foreclosures decreased by nearly 50 percent to 95,067, while newly initiated foreclosures increased by almost 8 percent to 352,318 compared to the previous quarter.

Loan modifications also increased substantially in the fourth quarter. Mortgage servicers initiated more than three times as many home retention actions as completed home forfeiture actions. During the past five quarters, mortgage servicers initiated nearly 2.7 million home retention actions, 473,415 in the fourth quarter alone, compared to 146,132 home forfeiture actions in the same quarter.

Modifications made during the quarter reduced payments by an average of $414 per month with HAMP modifications reducing payments by an average of $587 and private modifications reducing monthly payments by an average of $351.

The report notes that 57 percent of the modifications made since January 2008 in which the mortgage payment was reduced by 10 percent or more were current and performing at the end of the quarter of 2010, which means 47 percent were not.

However, by contrast, only 34 percent of the mortgages in that same time period in which the payment was reduced by less than 10 percent were current and performing, which means 66 percent are not.

Tags: OTC, credit quality, first lien mortgage, mortgage delinquencies, foreclosures, foreclosure inventories, loan modifications, mortgage servicers, HAMP

Sources:
Office of Thrift Supervision

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS