My previous post provided a census tract level map of census tracts with 11 or more seriously delinquent FHA insured loans. The number of serious delinquent loans appears on the map and the selection of an individual tract provides a pull down with more information on serious delinquencies in prior quarters and original loan amounts and remaining loan balances for the loans in serious delinquency.
I have prepared the 4 page PDF file HERE and embedded below which summarizes and expands the March 31 data at the state level.
The first two pages display data on counts of loans in serious delinquency and outstanding loan balances, while pages 3-4 display information on the counts of census tracts with serious delinquencies.
Some observations, using Oregon as an example: An estimated 6.356 seriously delinquent loans, with an unpaid loan balance of $1.3+Billion.
- In the 222 census tracts with 11 or more seriously delinquent loans there were 3,741 seriously delinquent loans.
- There were another 523 census tracts that had at least 1, but less than 10 serious delinquencies. Assuming the mid point (5) between 1 and 10 , I projected that these 523 census tract had 2,615 seriously delinquent loans.
- Adding the two together there were 745 census tracts with 1 or more seriously delinquent loans, and the estimated total of those seriously delinquent loans was 6,356.
- The average unpaid loan balance for the seriously delinquent loans in census tracts with 11 or more seriously delinquent loans was $211,330. Multiplying that by the 6,356 estimated total seriously delinquent loans results in an estimated unpaid loan balance of $1,343,214,581.
Originally created and posted on the Oregon Housing Blog.