Option ARM Performance a Concern as Servicers Modify and Liquidate Portfolios
July 31, 2009
While option ARMs are no longer being offered, adjustable-rate mortgages that allow negative amortization originated in recent years are a growing concern for servicers. The rate at which option ARMs are turning delinquent is currently higher than on any other mortgage product, except for subprime. According to a report released this week by... [Includes one chart and one graph]