Relevant:
- The incoming bailouts for the government mortgage complex and student debt markets -- 15 percent of FHA insured loans are 30+ days delinquent
- MBS yields have dropped below 4.0%, and mortgage rates are likely to follow them down (tho not that far).
- loan modifications are getting better
- Over 4 Million Loans 90+ Days Delinquent or in Foreclosure, 72% in Foreclosure Not Made Payment for at Least 1 Year
- MANDELMAN’S MONTHLY MUSELETTER – VERSION 8.0
2011-05-11 — ml-implode.com
``Turns out... and I know you're going to find this hard pill to swallow... if you reduce someone's payment by 50 percent, the loan performs better than if you only reduce it by 20 percent or less. I swear... it's true! For the loans that had payments reduced by 50 percent, fewer than 12 percent are 60 days or more delinquent. You're darn tootin'.''
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