Palm State Mortgage Company is proud and happy to report that some new figures assure us that home loan performance is a strong participant in the hoped-for housing recovery!

According to a recent report from TransUnion, the Federal Savings Bank substantiates a recovery in loans, which has occurred during the first quarter of 2014.

The good news is predicated on the mortgage delinquency rate. This is defined as “the share of home loans that are 60 or more days late.”

Let’s Do The Math!

1. In the fourth quarter of 2013, this figure amounted to 3.85 percent.

This figure has dropped to 3.61 percent.

2. That means the number of delinquent mortgages has dropped “6.2 percent nationally!”

3. Deeper examination of the statistics reveals, “compared to the same quarter the previous year, there was a 24.2 percent decrease.” This is because last year we had a cringing delinquency rate of 4.76 percent in the first quarter of 2013.

4. Perhaps the most conclusive evidence that both the loan industry and the general economy are improving is that 2014 marks the “ninth consecutive period of quarter-to-quarter declines.”

Steve Chaouki, TransUnion head of financial services, stated, “This trend in improved performance is driven in part by lenders working their way through the foreclosure backlog, along with continued conservatism in underwriting new mortgages.”

He also stated optimistically, “It’s encouraging to see mortgage delinquencies drop once again, especially during a period when mortgage originations slowed considerably.”

Why Is This Good News For New Borrowers?

When the equilibrium is restored by a set of percentages like these, borrowers can begin to trust the housing market again, and feel optimistic and encouraged about their dreams of a home purchase.

Welcome Summer!

Palm State Mortgage Company would be remiss if we did not send you Happy Holiday greetings for this
coming three day week-end.
Traditionally, Memorial Day signifies the beginning of summer.

This is a great time to join families and friends for picnics and barbeque.

The backyards and the beaches of Florida will be filled with celebratory gatherings.

Let us not forget the reason this holiday was established. It means so much more than the initiation of the Summer Season.

This is the time, when we pause our busy thoughts and lives, and give thanks for the military service people, men and women, who have given their lives so we can remain free and safe in the United States of America.

Originally, Memorial Day was established as a day to commemorate those who died on both sides of the Civil War in the United States. See more of the story by clicking onto this convenient source. 

Since then, America has gained more heroes from subsequent wars; it is fitting that we honor them, and never forget their supreme sacrifice. So, the owners and staff of Palm State Mortgage Company salutes America today, and we say, “May you have a happy and a heartfelt Memorial Day!”