11/20/08

Updated On 05/30/08 at 07:16AM

Delinquent borrowers not catching up



U.S. homeowners who have caught up on overdue mortgage payments have been outnumbered two-to-one by newly delinquent mortgage borrowers, a report from the Washington-based Mortgage Insurance Companies of America said. Sandra Braunstein, the head of consumer and community affairs at the Fed, said last week that a program that encourages lenders to ease mortgage terms voluntarily, which is led by the mortgage industry and backed by the U.S. Treasury Department, has been insufficient. 

More at: [Bloomberg]


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