Rising Delinquencies Could Signal Cracks in Subprime Performance
September 29, 2006
Competition appears to be having an impact on performance in the subprime market: delinquencies trended upward during the first half of the year and a growing number of borrowers had trouble making even the first pay-ments on their loans. The rise in delinquencies was evident in a number of major indexes and in reports filed by major subprime servicers. The Mortgage Bankers Association, for instance, reported that...