I subscribe to the Fed's email list; once a quarter they tell me about a rate cut, and most days I get a story on how they've decided not to act against some ne'er-do-well. It's a pretty bleak parade of regulatory inaction. However! I got a day-brightening notice today!
The Federal Reserve System on Tuesday announced the availability of a set of dynamic maps and data that illustrate subprime and alt-A mortgage loan conditions across the United States.
...
• Loans per 1,000 housing units
• Loans in foreclosure per 1,000 housing units
• Loans real estate owned (REO) per 1,000 housing units
• Share of loans that are adjustable rate mortgages (ARMs)
• Share of loans for which payments are current
• Share of loans that are 90-plus days delinquent
• Share of loans in foreclosure
• Median combined loan-to-value ratio (LTV) at origination
• Share of loans with low credit score (FICO) and high LTV at origination
• Share of loans with low- or no documentation
• Share of ARMs with initial reset in the next 12 months
• Share of loans with a late payment in the past 12 months
Now, the only thing this administration hates more than collecting data is releasing it. And it is April Fool's Day. But, I'm hopeful. It's non-responsive now, but I imagine that's because the notice just went out.
Here's a little snark. The Board of Governors has a mortgage data website at http://www.federalreserve.gov/pubs/foreclosure/default.htm
Get it? Default? I mean, somebody's got a sense of humor.
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