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Average U.S. Households Almost Out of Financial Distress

The Consumer Distress Index, published by CredAbility, found the average U.S. household is under less financial stress these days, most likely due to factors such as added jobs and the mild winter weather this year. Overall, U.S. households scored 69.9 out of 100 points, with a score under 70 indicating a state of financial distress. While still 0.1 points shy of rising above the distress category, the score is an improvement from the previous quarter’s 67.6. Also, 69.9 is the highest score since the 2008 third quarter and the 2.3 point increase from the previous quarter is the highest quarterly jump in seven years.


MBA: Delinquencies and Foreclosure Starts Down, Inventory Up Slightly

On a national level, delinquency rates and foreclosure starts decreased on a quarterly and yearly basis in the first quarter of 2012, with foreclosure inventory the exception, which increased slightly compared to the previous quarter, according to the Mortgage Bankers Association. The delinquency rate was 7.40 percent on a seasonally adjusted basis in the first quarter of 2012 compared to the 2011 fourth quarter rate of 7.58 percent and the year ago quarter’s 8.32 percent. Foreclosure inventory, on the other hand, saw a small quarterly increase of 1 basis point after ending at 4.39 percent in the 2012 first quarter.


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Market Studies

Nationwide, the number of homes listed for sale has fallen 21 percent from a year ago, according to Pro Teck Valuation Services' May Home Value Forecast. Also, the forecast reported Months of Remaining Inventory (MRI) is ... read more

Foreclosure

According to a report from Foreclosure-Response.org, the serious delinquency rate, which includes loans 90 or more days past due plus foreclosures, increased for the first time after a downward trend between December 200 ... read more

Secondary Market

After suffering from bad loans during the financial crisis, Ally Financial looks to close the books on its share of ownership in the mortgage business. Executives with Ally took to the phone with investors Tuesday to exp ... read more


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