NEW YORK, NY -- After a near-record amount of loan
liquidations in July, August saw volume cut in half, falling back to a level in
line with the roughly three-and-a-half-year average. August liquidations
totaled $1.09 billion. This compares to the 12-month moving average of $1.32
billion and is slightly better than half of July's $2.05 billion.
August loss severity came in at 40.90%, down from July's
reading of 43.63% and below the 12-month moving average of 43.44%. The number
of loans liquidated in August was 90, which resulted in $444.29 million in
losses and an average disposed balance of $12.07 million, which is slightly
above the 12-month average of $11.20 million.
Since January 2010, servicers have been liquidating at an
average rate of $1.18 billion per month.
For a complete copy of the company’s news release, please
contact:
Eric R. Gerard
Senior Vice President
Great Ink Communications
27 Union Square West, Suite 205
New York, NY 10001
(212) 741-2977
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