Residential Loan Charge-offs Down 23 Percent from Q4, at Five Year Low

The Equifax March National Consumer Credit Trends Report presents more evidence that the home finance related credit picture is improving rapidly. The report shows that the level of home finance balances written off in the first quarter was down nearly 23 percent from that written off in the fourth quarter of 2012. Lenders wrote off $43.1 billion in so called severe derogatories in the first quarter, a five year low . These include loans for which foreclosures have been completed, loans where the...

Transactions Covered by the CFPB; FHA and VA Pricing Jump Explained; More on Assumability of Loan Types

Well, April 15 is past us now. The United States is dealing with the terrible tragedy in Boston, and our thoughts go out to that city. April 15 was also "tax day": in 2009, Americans paid $866 billion in taxes to the federal government with the top 1% of earners (those making more than $343,927) paying 37% of that figure. The bottom 50%, those who earned less than $32,396, paid $19 billion in taxes. Taxes do influence behavior - with the November election in California raising its state taxes, for...

• Mortgage Rates Snap Recent Winning Streak
• Multi-Family Starts Lead Residential Construction, Single-Family Drags
• MBS RECAP: Moderately Weaker Day, Guarded Against More
• Quantifying The Surge In Post-Recession Rental Home Market
• MBS MID-DAY: Slow Improvements After Opening Weaker
• The Day Ahead: More Data, More Opportunity to Ignore It

Micro News

Around the Web

• National Credit Default Rates Decreased in March 2013
• Fed's Duke Sees Credit Easing Except in Mortgage Market
• Statement from NAHB Chairman Rick Judson on Senate Immigration Bill
• Minutes of the Board's discount rates meetings from February 11 through March 18, 2013
• FDIC Statement: Who Is Too Big To Fail? Examining the Application of Title I of the Dodd-Frank Act
• Evans Says US Still Needs Fed QE Even With Brighter Outlook

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Today's Comments

	"Update to the Update: I wrote a sort of play by play if you will of my wife and my efforts to get a Hamp back in 2009. There were three articles submitted..."
	"I wonder how they treat consumer complaints about the CFPB, specifically how they have a director who has not obtained Senate approval as required? I'm..."
	"Information and delivery of info has been outstanding. Saw some chat about CPFB interviewing employees about knowledgebase--I wonder when MND will become..."

Today's Q&A