NEW YORK, NY -- After a busy summer, September and October
saw relatively low volume in terms of loans liquidated with losses.
Liquidation volume registered $960.1 million in October.
While this number was up 10% from September's volume, it was still well below
the 12-month moving average of $1.23 billion and 53% below July's $2.05
billion.
October loss severity landed at 38.58%, down from
September's 43.30% and below the 12-month moving average of 43.78%.
The number
of loans liquidated in October was 76, resulting in $370.43 million in losses.
These liquidations translated to an average disposed balance of $12.63 million,
above the 12-month average of $11.39 million.
Since January 2010, servicers have been liquidating at an
average rate of $1.17 billion per month.
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