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San Francisco, Calif. – November 30, 2004 - LoanPerformance, the leader in residential mortgage data and credit risk decision-support tools for the mortgage industry and Wall Street, today announced that the latest issue of its MarketPulse newsletter is available for immediate download from the LoanPerformance website at www.loanperformance.com.
This issue features “American’s Home Forecast: The Next Decade for Housing and Mortgage Finance” by contributing authors David Berson, Chief Economist, Fannie Mae; David Lereah, Chief Economist, National Association of Realtors, Paul Merski, Chief Economist, Independent Community Bankers of America; Frank Nothaft, Chief Economist, Freddie Mac; and David Seiders, Chief Economist, National Association of Home Builders. In the article, the economists outline the four principle drivers of mortgage credit demand: household growth, increases in homeownership, home-value appreciation and leverage. The article goes on to discuss their effect on single-family mortgage debt outstanding over the past decade and projected over 2004-2013*.
Additionally, the new issue reports national mortgage delinquency and prepayment trends as of June 2004, including:
- National prime serious delinquency decreased 0.10 bps to 0.74% in June 2004 from December 2003. Greatest improvements were posted in Nevada (decreased by 0.41 bps to 0.74% and in Utah (decreased by 0.25 bps to 1.60%). Prepayments
were highest in Nevada (31.97%), California (27.13%) and Washington, D.C. (25.03%)
- National subprime serious delinquencies decreased 0.98 bps to 4.16% in June 2004 vs. December 2003, while prepayments increased 5.18 bps to 35.16% in June 2004 vs. December 2003.
- Non-agency MBS 90+ day delinquencies were highest in Utah (0.80%), Indiana (0.63%) and Oklahoma (0.59%).
- National utilization rates on Home Equity Lines of Credit and Second Mortgages increased 8.13 bps to 49.41% in June 2004 vs. December 2003.
* The report America’s Home Forecast: The Next Decade for Housing and Mortgage Finance was published by the Homeownership Alliance in May 2004. The Chapter “Mortgage Demand and Supply” was excerpted from the larger report, which is available at www.homeownershipalliance.com.
About MarketPulse
MarketPulse is a free quarterly newsletter that presents analysis and insight into delinquency and prepayment trends for the Prime, Subprime, HELOC/Seconds, MBS and ABS markets and takes note of metro areas, states, and regions that show signs of payment distress. Each issue also contains a lead article with valuable insights from leading thinkers on the prime, subprime, and securities mortgage marketplace. The summary data in each MarketPulse is extracted from the LoanPerformance mortgage servicing and securities database of 46 million mortgage loans, the foundation of the company’s suite of information and analytical tools that are used by leading financial institutions, issuers, investors and GSE’s for early warning and performance benchmarking. Mortgage industry professionals interested in receiving MarketPulse will need a user name and password and can sign up by filling out the electronic form in the “MarketPulse” section of the LoanPerformance website at www.loanperformance.com.
About LoanPerformance
LoanPerformance is the leader in residential mortgage performance data and credit risk decision-support tools for mortgage originators, servicers, securities issuers and investors. LoanPerformance’s industry-standard databases track the delinquency and prepayment performance of 46 million individual mortgage payments per month, representing 90% of outstanding prime mortgages, 75% of outstanding securitized nonprime mortgages, 80% of publicly traded non-agency mortgage securities, and 80% of bank-owned home equity loans and lines of credit. LoanPerformance proprietary databases and suite of predictive prepayment and risk modeling solutions enable clients to make informed decisions about their credit risk, loss mitigation and securitization strategies. Privately held, LoanPerformance is headquartered in San Francisco, CA.
For more information, visit www.loanperformance.com or call 415-536-3500.
©2004, LoanPerformance. All Rights Reserved.
Media contact
John Lewis
Campbell Lewis Communications
202.261.6548
john@campbelllewis.com
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