the MBA & LPS on delinquent mortgages & foreclosure inventories at mid year – Published on Marketwatch, by RJS, August 11, 2013.
this week saw the release of both of the major national reports that track the condition of US home mortgages, coincidentally as of the last day of June, giving us an opportunity to compare them side by side, which should give us a better picture of the overall situation….we should note they’re not directly comparable, however, because the Mortgage Bankers Association’s (MBA) 2nd quarter National Delinquency Survey is issued quarterly and is seasonally adjusted, whereas the June Mortgage Monitor (pdf) from Lender Processing Services (LPS) is a report issued monthly that is not seasonally adjusted … on previous occasions where their release has coincided, we’ve noted that the MBA has tended to show slightly higher delinquency rates than LPS; that’s also true this time, though it’s interesting to note that this end quarter they’re converging, as the MBA report has mortgage delinquencies down slightly, whereas LPS shows a substantial jump in late house payments in June, turning their 3 month delinquency figures negative…the MBA also notes that the improvement they show in seriously delinquent mortgage percentages may be slightly less than they indicate because “at least one large specialty servicer that has received a number of loan transfers did not participate in the MBA survey” … (full long text including 9 charts).
U.S. Energy Independence Doesn’t Mean a Thing, on naked capitalism, by Daniel Graeber, August 12, 2013;
C is for Camouflage, on naked capitalism, by Michael Hudson, August 11, 2013;
US Government Protection of Al-Qaeda Terrorists and the US-Saudi Black Hole, on Global Research.ca, by Prof Peter Dale Scott, August 05, 2013;
Frackonomics: The Science and Economics of the Gas Boom, on Dollars & Sense, Real-World Economics, by ROB LARSON, July / August 2013.