by Calculated Risk on 9/08/2009 10:22:00 PM
Tuesday, September 08, 2009
FHA Lenders with High Default Rates
HUD has a great tool to track FHA lender performance: Neighborhood Watch Early Warning System (ht TL)
Although the overall FHA default rate is 4.63%, the following lenders had 2 year default rates of 15% or more (only lenders with 100+ originations included). (Added: these are the two year default rates).
There are ten lenders with "perfect" records (100% default), but they only have one or two originations each.
And the winner is Mortgage Depot Inc. with a 48.65% default rate!
Note that Countrywide Home Loans Inc. is not Countrywide Bank FSB.
For a full screen version of the table click here.
The table is wide - use scroll bars to see all information!
NOTE: Columns are sortable - click on column header to sore