Mortgage Market Starting to Brace for Expected Surge in Delinquencies, Defaults
April 6, 2006
The residential mortgage market – particularly lenders that service the $6 trillion or so in mortgages originated over the past two years – is starting to brace itself for an expected surge in delinquencies and defaults as rising interest rates and flattening home prices take hold. And concerns already are surfacing that the lending industry may be severely challenged in handling problem loans in a new regulatory environment. …