MBA Delinquency Survey Shows Signs of Stabilization. Progress Depends on Labor Market

In a telephone press conference accompanying release of the survey this morning, Jay Brinkmann, MBA's chief economist said that delinquencies in the 30 day plus "bucket" traditionally represent the largest category of troubled loans as many people have short term problems, quickly recover and bring their loans current.

In the present scenario, that is not the case. The number of loans 90+ days in arrears is now the largest category of delinquency and growing, the MBA believes the drop in new delinquencies may be a sign "we are beginning to work our way out of the problem."