Mortgage delinquencies set to drop to lowest point since Q3 2007.
Borrowers under the age of 30 have the lowest mortgage delinquency rate of all borrowers.
Two credit unions carrying up to a 45% concentration of home equity lines of credit said the loans are not at risk or that they have taken steps to monitor and mitigate potential risk.
While the overall risk of widespread HELOC default isn't a concern, individual lenders could face credit risk on their balance sheets.
Consumers have returned to payment patterns that were typical before the Great Recession, according to one of the three nationwide credit reporting bureaus.
Return to pre-recession payment pattern noted by credit bureau.
Credit bureau finds homeowners who receive mortgage modifications more faithful on other loans even if they later default on the mortgage.
TransUnion, one of the three nationwide credit reporting bureaus, has forecast that the U.S. economy will stop adding many more mortgages to the delinquency pool in 2012 and will instead begin to work through the existing housing stock.
Credit reporting bureau says economy will allow existing housing stock to begin to sell.
Credit unions that are being approached for credit from members who have a mortgage default in their history might take some comfort from a new study from TransUnion, one of the three major credit reporting firms in the U.S.