The Mortgage Bankers Association (MBA) reported today (8-11-22) its National Delinquency Survey (NDS) for Q2 of 2022. According to the NDS, the delinquency rate for mortgage loads on one-to-four-unit residential properties declined to a seasonally adjusted rate of 3.64% of all loans outstanding.
For the survey, MBA asks servicers to report loans in forbearance as delinquent if the payment was not made based on the original terms of the mortgage. The delinquency rate was down 47 basis points from Q1 of 2022 and down by 183 basis points year-over-year.
Marina Walsh, MBA’s Vice President of Industry Analysis, shared these insights on the NDS for Q2:
“At 3.64 percent, the mortgage delinquency rate in the second quarter fell to its lowest level since MBA’s survey began in 1979—even beating out the previous pre-pandemic, survey low of 3.77 percent in the fourth quarter of 2019. Most of the improvement across all product types—FHA, VA, and conventional loans—resulted from a decline in the loans that were 90 days or more delinquent but not in the foreclosure process.”
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