Experian
By Carrie Bay | 04/18/2012
Data through March 2012, released this week by S&P Indices and Experian showed that, with the exception of bank cards, all consumer loan types saw a decrease in default rates for the third consecutive month and in March, posted their lowest rates since the end of the recent economic crisis. The first mortgage default rate decreased to 1.88 percent in March, according to the agencies' report. Second mortgage defaults declined to 1.03 percent over the same period.
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By Krista Franks Brock | 10/26/2011
Default rates for both first and second mortgages increased during the month of September, according to the S&P/Experian Consumer Credit Default Indices. First mortgage delinquencies rose from 1.92 percent in August to 1.99 percent last month. Second mortgages increased from 1.27 percent to 1.32 percent. Both rates, however, are lower than their levels one year ago when the agencies cited 3.02 percent of first mortgages as delinquent and 2.14 percent of second mortgages were reported delinquent.
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By Krista Franks | 08/26/2011
Default rates on both first and second mortgages declined in July, according to the S&P/Experian Consumer Credit Default Indices. Second mortgage defaults decreased from 1.4 percent in June to 1.25 percent. The first mortgage default rate for the month of July was 1.93 percent, down from 2.02 percent the previous month. Both measurements also declined from a year earlier.
S&P says July's data support the downward trend the company has observed over the past two years.
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By Krista Franks | 08/12/2011
Mortgage delinquencies remain elevated while other aspects of the consumer credit picture, such as bankcard performance, are improving, according to a new report from Experian. The credit bureau says instances of 60-day mortgage delinquencies have risen by 25 percent from 2007, prior to the recession, while 60-day credit card delinquencies have decreased 20 percent since that time. Portland shows the greatest increase in missed mortgage payments, almost double since 2007.
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By Carrie Bay | 07/22/2011
Default rates on first and second mortgages dropped between May and June, and both measurements are down sharply from year-ago readings, according to S&P Indices and Experian. Their monthly assessment shows the default rate on first mortgages fell 7 basis points month-to-month and is 125 basis points below June 2010. Second-mortgage defaults slipped 2 and 101 basis points for the month and year, respectively. The results are based on consumer credit data from 11,500 banks and mortgage companies.
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By Carrie Bay | 06/23/2011
The phenomenon of strategic default has become a growing concern within the industry, but a new "Market Insight Snapshot" released by Experian Thursday suggests the percentage of mortgage defaults involving borrowers who decided to simply throw in the towel is trending downward. Since strategic defaults hit 20 percent of all mortgages 60-plus days delinquent in the fourth quarter of 2008, they've come in below that mark ever since, according to the study. By mid-2010, the share of intentional walk-aways was 17 percent.
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By Heather Hill Cernoch | 05/20/2011
According to data released by S&P Indices and Experian, the default rate on second lien mortgages has increased for the first time in at least five months. The agencies' report shows second mortgage defaults rose from 1.42 percent in March to 1.51 percent in April. First mortgages, on the other hand, saw a decrease in default rates. These results are based on data extracted from Experian's consumer credit database, which covers approximately $11 trillion in outstanding loans sourced from 11,500 lenders.
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By Carrie Bay | 04/22/2011
Data released by S&P Indices and Experian showed a decline in mortgage default rates for the fourth straight month. The agencies' index of first mortgage defaults fell to 2.33 percent in March and is down 41 percent from a year earlier. Second mortgage defaults dropped to 1.42 percent, down 49 percent over the past year. Not only has the ratio of on-time mortgage payments improved, but the report indicates consumers are making headway on their debt obligations overall, with declines in monthly default rates across all major credit lines.
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By Heather Hill Cernoch | 01/24/2011
VantageScore 2.0, the latest credit scoring model from VantageScore Solutions, is now fully implemented at all three major credit reporting agencies - Equifax, Experian, and TransUnion. VantageScore 2.0 was created in response to significant changes in consumer credit repayment behavior, and the company says it enables lenders to better mitigate risks and make more informed lending decisions.
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By Joy Leopold | 01/20/2011
Experian announced this week that it will incorporate positive rental data into the traditional credit file in an effort to help underbanked consumers build credit. According to the FDIC Web site, an estimated 17.9 percent of U.S. households, roughly 21 million, are underbanked. Experian says having positive rental history reflected in their credit scores will help consumers who may have faced financial hardships such as foreclosure or bankruptcy rebuild their credit.
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