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Real Estate Briefing - Categorized | Mortgage, Performance more

First-time mortgage defaults in U.S. rise for 1st time in year

Posted on 09 November 2010

From Bloomberg: The pace of defaults among U.S. homeowners who’ve never fallen two months behind on mortgages backing so-called non-agency securities is increasing for the first time in a year, according to Amherst Securities Group LP.
First-time defaults rose to 1.1 percent of previously “always performing” mortgages based on payments due in September, up from 1 percent the prior month, according to a report from the Austin, Texas-based securities firm……………………………………….Full Article: Source


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