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Radian Group Inc. Message Board

  • ibuymis ibuymis Jun 29, 2011 6:45 PM Flag

    More Evidence the MIs Have A Legacy Problem Only

    More evidence that once the MIs get through their current wave of defaults, it should be smooth sailing. There just are not that many new delinquencies being generated compared to the first wave of defaults. This is a "pig through the python" problem that was delayed for some time, but is now working its way through.

    The amount of mortgages in the earliest stage of delinquency at the end of March dropped to the lowest level since the first quarter of 2008, federal banking regulators said.

    The Office of the Comptroller of the Currency and the Office of Thrift Supervision studied delinquency levels on 63% of all mortgages outstanding in the U.S. in the first quarter — roughly 32.7 million loans held by select banks.

    The percentage of mortgages between 30- and 59-days delinquent dropped 16% from the previous quarter and 5.8% from one year ago.

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