Thursday, January 2, 2014

Trepp December Loss Analysis: Volume, Severity Stay Steady





NEW YORK, NY -- December liquidation volume and loss severity stayed fairly close to November’s levels, which were a rebound from two months of below average activity, reports New York-based Trepp.

Liquidation volume registered $1.28 billion in December, up slightly from $1.21 billion in November and in line with the 12-month moving average of $1.18 billion. Of the loans liquidated, 90% fell into the greater than 2% loss severity category.

December loss severity came in at 50.36%, up from November’s 48.10% and considerably higher than October's 38.58%. The 12-month moving average for loss severity is 45.57%.

The number of loans liquidated in December was 93, which resulted in $647.17 million in losses, making the average disposed balance of $13.82 million--well above the 12-month average of $11.64 million.

Since January 2010, servicers have been liquidating at an average rate of $1.18 billion per month.

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