MBA Proposes Forbearance for Unemployed Borrowers As Mortgage Performance Continues Showing Strain
February 25, 2010
Mortgage default rates generally worsened in late 2009, with the Inside Mortgage Finance Large Servicer Default Index climbing to a record 12.72 percent of outstanding mortgages either delinquent or in foreclosure. That was up from 12.34 percent in the third quarter, although the data are still preliminary as more information is being provided from some firms. All of the increase in...