Mortgage Performance Summary QUARTERLY UPDATE Housing Market and Mortgage Performance in Maryland and the District of Columbia st Quarter, 27 Joseph Mengedoth Michael Stanley
47 4 42 4 37 3 32 3 27 2 22 2 7 2 Index, 99:Q= United States Maryland Cumberland Salisbury Figure FHFA House Price Index: Maryland & DC District of Columbia Baltimore-Towson Hagerstown-Martinsburg Washington-Arlington-Alexandria Index, 99:Q= 2 26 27 28 29 2 2 22 23 24 2 26 27 Notes: Washington, DC refers to the Washington-Arlington-Alexandria metropolitan division (MD) Source: Federal Housing Finance Agency (27:Q)/Haver Analytics 47 4 42 4 37 3 32 3 27 2 22 2 7 2 Figure 2 age of Owner-Occupied Loans in or REO : Maryland and DC Notes: Uncategorized zip codes have fewer than total loans or no data available. Real Estate Owned (REO) properties are in the possession of the lender due to foreclosure or forfeiture.
Figure 3 age of Owner-Occupied Loans with 9+ Day Delinquency: Maryland and DC Notes: Uncategorized zip codes have fewer than total loans or no data available. Figure 4 age of Owner-Occupied Prime Loans in or REO : Maryland and DC Notes: FHA and VA loans are included in the count of prime loans. Uncategorized zip codes have fewer than total loans or no data available. 2
Figure age of Owner-Occupied Prime Loans with 9+ Day Delinquency: Maryland and DC Notes: FHA and VA loans are included in the count of prime loans. Uncategorized zip codes have fewer than total loans or no data available. Figure 6 age of Owner-Occupied Subprime Loans in or REO : Maryland and DC Notes: FHA and VA loans are included in the count of prime loans. Uncategorized zip codes have fewer than total loans or no data available. 3
Figure 7 age of Owner-Occupied Subprime Loans with 9+ Day Delinquency: Maryland and DC Notes: FHA and VA loans are included in the count of prime loans. Uncategorized zip codes have fewer than total loans or no data available. Figure 8 age of Owner-Occupied Mortgages with Subprime Loans: Maryland and DC Notes: FHA and VA loans are included in the count of prime loans. Uncategorized zip codes have fewer than total loans or no data available. 4
Figure 9 Unemployment Rate: Maryland and DC Notes: Unemployment Rate in March 27 Source: Bureau of Labor Statistics/Haver Analytics Table Mortgage Delinquency Rates: Fifth District 9 + National in National Days Past Due Rank Forclosure Rank District of Columbia.26 29 2.33 Maryland.8 7.6 6 North Carolina.4 24.92 3 South Carolina.44 22.4 2 Virginia.3 3.6 42 West Virginia.6. 26 Fifth District.4 -.9 - United States.37 -.39 - Source: Mortgage Bankers Association (27:Q)/Haver Analytics
Table 2 General Housing Statistics: Maryland Housing Units of Owner-Occupied Owner-Occupied Mortgages With: With a Prime Subprime Adjustable Interest Total Vacant Occupied Total Mortgage Loan Loan Rate Only Baltimore-Towson,32,2 93,486,38,76 69,72 36,37 96.76 3.24 8.22.9 Cambridge 6,4 3,32 3,22 9,263,8 96.9 3.9.92.3 Cumberland 46,3,623 4,727 29,72 6,36 96.3 3.69 3.67.23 Washington, DC MSA Entire MSA 2,23,72 39,22 2,74,73,333,662,26,877 96.84 3.6.64 3.4 District of Columbia 296,79 3,2 266,77 2, 9,6 9.88 4.2 2.9 3.49 Maryland Portion 882,966 4,9 828, 62,96 472,2 96.6 3.4.8 3.32 Easton 9,77 3,42 6,7,6 7,82 97.8 2.92.2 3.4 Hagerstown,329 2,484 2,84 72,262,7 98.9.9.72.3 Lexington Park 4,282 3,678 37,64 26,966 2,49 97. 2.4.3.68 Ocean Pines,749 33,2 22,229 6,737,834 96.4 3.9 9.8 2. Salisbury 2,322 6,34 46,8 28,946 2,64 96.84 3.6 4.99.8 Maryland 2,378,84 222,43 2,6,4,4,77,46,636 96.76 3.24 9.6 2.48 Fifth District 3,387,6,98,27,789,343 7,93,734,632,33 96.89 3. 7.73.64 United States 3,74,73 4,988,438 6,76,292 7,986,74,28,28* 97.97 2.3 8.7.64 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Source: Housing units are reported in the 2 Census. Mortgage estimates are Federal Reserve Bank of Richmond calculations using data from McDash Analytics (March 27). Definitions of the metropolitan areas are provided later in the document. *The figure for owner-occupied units with a mortgage at the national level is calculated by summing the totals for the states. 6
Table 3 Owner-Occupied Loan Statistics: Maryland March 26 March 27 9+ Days Past Due in 9+ Days Past Due in Baltimore-Towson.96.46.49.64.6. Cambridge 2.6.27 3.4 2.2.3.79 Cumberland 2.7 2.2 2.24.7.6.94 Easton.24.63.97.4.77.77 Hagerstown.93.3.43.63.92.7 Lexington Park.63.23.3.2.93.98 Ocean Pines.6.3.3.94.9.8 Salisbury.86.64 2.23.7.2.6 Washington, DC* 2.3.38.22.74..9 Maryland 2.2.43.4.67.4.4 Fifth District.69..79.47.77.6 United States.8.32.74.32.97.7 *Only the Maryland portion of these MSAs is included here. Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A. Figure Owner-Occupied Loan Statistics: Maryland 9 8 7 6 4 3 2 9+ Days Past Due 2. 2. 2..9.9.8.8.9.9.9.8.8.7.4.3.3.3.2.2....... 3/6 /6 7/6 9/6 /6 /7 3/7 9 8 7 6 4 3 2 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. 7
9 8 7 6 4 3 2 Figure Owner-Occupied Loan Statistics: District of Columbia 9+ Days Past Due 2.4 2.3 2.3 2.2 2.2 2..9.9.9.8.8.7.7.2.2.2.2.2.2.2.2.3.3.3.2. 9 8 7 6 4 3 2 3/6 /6 7/6 9/6 /6 /7 3/7 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Table 4 Owner-Occupied Prime Loan Statistics: Maryland March 26 March 27 9+ Days Past Due in 9+ Days Past Due in Baltimore-Towson.9.4..63.7.2 Cambridge 2..27 3. 2..34.8 Cumberland 2.7.98 2.2.3.2.98 Easton.27.9.94.3.77.79 Hagerstown.89.34.42.6.9.8 Lexington Park.63.22.28.23.94.99 Ocean Pines.8.37.32.93.88.87 Salisbury.84.64 2.26.73..69 Washington, DC* 2.8.36.22.73..93 Maryland.96.42.4.6..6 Fifth District.64.98.79.4.77.6 United States..3.73.3.97.7 *Only the Maryland portion of these MSAs is included here. Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A. 8
6... 4. 4. 3. 3. 2. 2..... 2. 2. 2..4 Figure 2 Owner-Occupied Prime Loan Statistics: Maryland 9+ Days Past Due.8.9.8.8.8.9.9.8.8.3.3.2.2.2....... 3/6 /6 7/6 9/6 /6 /7 3/7.7 6... 4. 4. 3. 3. 2. 2..... Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. 6... 4. 4. 3. 3. 2. 2..... Figure 3 Owner-Occupied Prime Loan Statistics: District of Columbia 9+ Days Past Due 2.3 2.3 2.2 2. 2..9.8.9.9.8.8.7.7.2.2.2.2...2.2.2.3.2.2. 3/6 /6 7/6 9/6 /6 /7 3/7 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. 6... 4. 4. 3. 3. 2. 2..... 9
Table Owner-Occupied Subprime Loan Statistics: Maryland March 26 March 27 9+ Days Past Due in 9+ Days Past Due in Baltimore-Towson 4.48.82.9 2.3.8.2 Cambridge 3.8.28.28 2.47.. Cumberland.9 2.93.9 2.42..97 Easton. 3.7 2.38.6.8. Hagerstown 4.24 2.2.82 3.4.48.74 Lexington Park.2.9 2.28 2.2.28.6 Ocean Pines 2.78.6.6.23.23.4 Salisbury 2.72.7.36 2.6.32.32 Washington, DC* 4.2.9.4 2..7.4 Maryland 4..89.6 2.3.79.3 Fifth District 3.49.47.72.93.67.33 United States 3.3 2.23.88.93.9.43 *Only the Maryland portion of these MSAs is included here. Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A. 3 Figure 4 Owner-Occupied Subprime Loan Statistics: Maryland 3 2 9+ Days Past Due 2 2 2 4. 3.8 3. 3. 3.2 3. 2.8 2.6 2.6 2. 2.4 2.4 2..9.7.4.3.2.2...9.9.9.9.8 3/6 /6 7/6 9/6 /6 /7 3/7 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans.
3 Figure Owner-Occupied Subprime Loan Statistics: District of Columbia 3 2 9+ Days Past Due 2 2 2 4.7 4.3 3.6 4. 3.4 3.8 3. 3. 3.4 3.3 2.6 3.2 2.9 2.8 2.2 2.2 2.7 2.6 2.6 2. 2. 2..7..8 2.3 3/6 /6 7/6 9/6 /6 /7 3/7 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Table 6 Owner-Occupied Interest Only Loan Statistics: Maryland March 26 March 27 9+ Days Past Due in 9+ Days Past Due in Baltimore-Towson 3.89 3.6 3. 3.37 2.6 2.4 Cambridge.4 2.7.4. 2.94 2.94 Cumberland. 23.3.88. 7.69 7.69 Easton. 3.8.6.32 3.9 2.63 Hagerstown 3. 3. 3.92 2.72 2.4 2.7 Lexington Park.3 2.88.92 4.3 4.3.82 Ocean Pines.9 2.44 2.93.7.8.7 Salisbury 7. 6.6.66 3.8.27 6.33 Washington, DC* 4.9 2.92 2.82 3.3 2.46 2. Maryland 4.6 3.2 2.94 3.3 2.4 2. Fifth District 2.92 2.9.6 2.4.77.27 United States 2.73 3.7.24 2. 2.32.89 *Only the Maryland portion of these MSAs is included here. Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A.
4 3 2 9 8 7 6 4 3 2 Figure 6 Owner-Occupied Interest Only Loan Statistics: Maryland 9+ Days Past Due 4. 4. 4. 3.7 3.8 3.8 3.7 3.6 3.7 3.6 3.6 3. 3.3 3. 2.9 2.8 2.7 2.7 2.6 2.6 2. 2. 2. 2. 2. 2. 3/6 /6 7/6 9/6 /6 /7 3/7 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. 4 3 2 9 8 7 6 4 3 2 Figure 7 Owner-Occupied Interest Only Loan Statistics: District of Columbia 9+ Days Past Due.8.8.6. 4.6 4.6 4. 4.6.7.6.6.7.9.8.9 4.8 4.7 4. 4. 4..6.6.8.7.8.7 3/6 /6 7/6 9/6 /6 /7 3/7 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. 4 3 2 9 8 7 6 4 3 2 4 3 2 9 8 7 6 4 3 2 2
Table 7 Unemployment Rates: Maryland & DC age Point Unemployment Rate Change from March 26 Baltimore-Towson 4.. Cambridge 6. -.3 Cumberland 6.4 -.2 Easton 4.4 -.2 Hagerstown-Martinsburg 4. -.4 California-Lexington Park 4. -.2 Salisbury 6.. Washington, DC 3.7 -.2 Maryland 4.3 -. District of Columbia.7 -.3 Fifth District 4.3 -. Note: Data are not seasonally adjusted. Source: Bureau of Labor Statistics/Haver Analytics (March 27) Table 8 Owner-Occupied Loan Statistics Washington, DC MSA March 26 March 27 9+ in 9+ in Days Past Due Days Past Due Calvert County.72.2.42.44.86.2 Charles County 3.44 2.2.74 2.6.7.32 Frederick County.34.97..7.66.8 Montgomery County.2.74.2.8.47.33 Prince George's County 3.44 2.3.9 2.8.6.7 District of Columbia.23 2.4.6.4.68.28 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A.. 3
Table 9 Owner-Occupied Loan Statistics Baltimore-Towson MSA March 26 March 27 9+ in 9+ in Days Past Due Days Past Due Anne Arundel County.2.9.2.7.78.78 Baltimore City 3.9 2.49 2.8 2.63.84 2.9 Baltimore County 2.28.62..94.4.6 Carroll County.26.98.2.6.72.79 Harford County.72.32.4...3 Howard County.8.74.4.92.6.37 Queen Anne's County.76.26.9.9.84.3 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A.. Table Owner-Occupied Prime Loan Statistics Washington, DC MSA March 26 March 27 9+ in 9+ in Days Past Due Days Past Due Calvert County.68.24.44.42.86.4 Charles County 3.37 2.3.7 2.7.6.32 Frederick County.33.9..7.66.9 Montgomery County.98.73.3.84.48.34 Prince George's County 3.38 2..97 2.79.62.9 District of Columbia.7 2.34.6..66.26 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A. Table Owner-Occupied Prime Loan Statistics Baltimore-Towson MSA March 26 March 27 9+ in 9+ in Days Past Due Days Past Due Anne Arundel County.48.9.2.7.79.8 Baltimore City 3. 2. 2.84 2.6.86 2.4 Baltimore County 2.2.6.2.9..8 Carroll County.22.97.2..72.79 Harford County.6.3.4..2. Howard County.6.74.4.93.6.38 Queen Anne's County.7.27.8.7.84.4 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A. 4
Table 2 Owner-Occupied Subprime Loan Statistics Washington, DC MSA March 26 March 27 9+ in 9+ in Days Past Due Days Past Due Calvert County 3.92.96.39 2.7.8. Charles County 6.34.8.8 3..77.8 Frederick County 2.2.94.4.92.62.3 Montgomery County 2.6.2.38.6.3.2 Prince George's County.8 2.6.4 3.34.33. District of Columbia 3.6 4.66.7.78 2.2.62 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A. Table 3 Owner-Occupied Subprime Loan Statistics Baltimore-Towson MSA March 26 March 27 9+ in 9+ in Days Past Due Days Past Due Anne Arundel County 3.7.2.96.39.38.34 Baltimore City.39 2.42.72 3.38.47.84 Baltimore County.4 2.6.98 2.7.84.64 Carroll County 3.3.2.26.9.4.6 Harford County 4.96.6.6.88.77.33 Howard County 2.3.88.7.7..2 Queen Anne's County.. 2.2 2.4.68.68 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A. Table 4 Owner-Occupied Interest Only Loan Statistics Washington, DC MSA March 26 March 27 9+ in 9+ in Days Past Due Days Past Due Calvert County 4.83 3.62 2.42 2.48 3.72 3. Charles County.6 3. 3.29. 3.86 3.7 Frederick County 3.86 2.77 3.6 3.73 2.96.4 Montgomery County 2.9 2.23.8 2.8.44.2 Prince George's County.72 3.68 3.9 4.4 3.29 3.27 District of Columbia.69.79.9.67 4..24 Notes: FHA and VA loans as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A.
Table Owner-Occupied Interest Only Loan Statistics Baltimore-Towson MSA March 26 March 27 9+ in 9+ in Days Past Due Days Past Due Anne Arundel County 3.48 2.38 2.9 2.9 2.32 2.7 Baltimore City 3.66 3.26 3. 2.88 3. 2.62 Baltimore County 4.73 3.43 3.32 4.7 2.6 2.7 Carroll County 2.6 4.69.47 3.3 3.37 4.4 Harford County 4.37 4.2 3.4 4.24 3.8.69 Howard County 3.46 2.92.77 3.9 2.9.49 Queen Anne's County 6.22 2.22 4. 3.83.64.9 Notes: FHA and VA as well as interest only loans are included in the count of prime loans. Areas with fewer than total loans receive an N/A. 6
MSA Definitions. Baltimore-Towson, MD MSA Anne Arundel County, MD; Baltimore County, MD; Carroll County, MD; Harford County, MD; Howard County, MD; Queen Anne s County, MD; Baltimore city, MD 2. Bethesda, MD MSA- Frederick County, MD; Montgomery County, MD 3. Cambridge, MD MSA Dorchester County, MD 4. Cumberland, MD MSA Allegany County, MD; Mineral County, WV. Easton, MD Talbot County, MD 6. Lexington Park, MD St. Mary s County, MD 7. Ocean Pines, MD Worcester County, MD 8. Philadelphia-Wilmington MSA Burlington County, NJ; Camden County, NJ; Gloucester County, NJ; Bucks County, PA; Chester County, PA; Delaware County, PA; Montgomery County, PA; Philadelphia County, PA; New Castle County, DE; Cecil County, MD; Salem County, NJ 9. Salisbury, MD Somerset County, MD; Wicomico County, MD. Hagerstown-Martinsburg, MD MSA - Martinsburg, WV; Washington County, MD; Berkeley County, WV; Morgan County, WV. Washington, DC MSA - District of Columbia, DC; Calvert County, MD; Charles County, MD; Frederick County, MD; Montgomery County, MD; Prince George's County, MD; Arlington County, VA; Clarke County, VA; Fairfax County, VA; Fauquier County, VA; Loudoun County, VA; Prince William County, VA; Spotsylvania County, VA; Stafford County, VA; Warren County, VA; Alexandria city, VA; Fairfax city, VA; Falls Church city, VA; Fredericksburg city, VA; Manassas city, VA; Manassas Park city, VA; Jefferson County, WV The Washington, DC metropolitan division includes all of the above localities except Frederick County and Montgomery County in Maryland. Source: Office of Management and Budget, 28 Maryland Counties 7
Sources and Notes House Price Index Federal Housing Finance Agency/Haver Analytics Weighted repeat sales index, measuring the average price changes in repeat sales or refinancing on the same single family properties. Based on transactions involving conforming, conventional mortgages purchased or securitized by Fannie Mae or Freddie Mac. Unemployment Rate Bureau of Labor Statistics/Haver Analytics General Housing Statistics Census Bureau Metropolitan Statistical Area Definitions Office of Management and Budget, 28 Loan Distribution and Loan Performance () Mortgage Bankers Association/Haver Analytics (2) McDash Analytics Mortgage Data McDash Analytics recently made a large enhancement to their mortgage performance data with the addition of several, primarily non-bank, mortgage servicers covering an additional 3. million loans. Performance numbers for the added servicers date back to January 2. Historical rates may have changed in this version of the Mortgage Performance Summaries from previous versions. 8