Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, September 21, 1994 TAG: 9409230040
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: WASHINGTON LENGTH: Short
The seasonally adjusted delinquency rate for loans on one-to-four-unit residential properties was 4.21 percent, up from 4.12 percent in the January-March quarter, according to the association's latest survey.
``It's realistic to think the decline in delinquency rates is probably over,'' Executive Vice President Warren Lasko said.
Lasko attributed much of the second-quarter increase to ``the natural aging of mortgage loans being serviced.'' Loans originated during the refinancing boom from mid-1991 to early 1992 are now nearly 3 years old, he explained.
Historically, that is the beginning of the period in the life of a loan when problems are most likely to occur, he said. If no problems develop before the seventh year, there probably will not be any.
The survey covered 18.3 million loans, about one-third of all residential mortgages outstanding.
- Associated Press
by CNB