Banking

MBA: Delinquencies Increasing in All Credit Classes, Loan Products 

The delinquency rate for mortgage loans on one-to-four-unit residential properties stood at 4.95 percent of all loans outstanding in the fourth quarter of 2006 on a seasonally-adjusted (SA) basis, up 28 basis points from the third quarter, and up 25 basis points from one year ago, according to MBA’s National Delinquency Survey, released Tuesday. All major loan types exhibited increases, according to the MBA report, although both subprime and FHA loans demonstrated the most significant increases across credit classes. The delinquency rate for FHA loans reached a new record in the fourth quarter, according to the report.