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Regional Mortgage Briefs

Regional Mortgage Briefs is an online resource designed to provide up-to-date and accessible analytics on critical mortgage and foreclosure concerns impacting our region. This information will help policymakers and housing professionals make informed decisions and efficiently allocate resources.
At 13.2 percent, Hudson County’s percentage of mortgages seriously delinquent lies near the middle of the range among the six northern New Jersey counties. Foreclosure and delinquency rates vary somewhat by zip code, but most fall within a fairly narrow range around the county average. Compared with the state, the Hudson County house price index had relatively large year-over-year percentage gains in the pre-crisis years, and then relatively large declines starting in 2007. The latest annual change is down, with declines across most of the county.

 
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Data include first-lien mortgages on 1-4 unit residential properties as of March 1, 2011. To approximate the full universe of residential mortgages, data are aggregated from two sources depending on mortgage type. The source of privately securitized mortgage data is CoreLogic LoanPerformance (LP); the source of data on all other mortgages is Lender Processing Services Mortgage Performance data (LPS).

These data do not represent the total number of residential mortgages in each geography but the unadjusted loan counts from the source databases. As of 3/1/2011, the data sets provided monthly loan-level information on approximately 34.9 million active loans in the United States, estimated at 65 percent of the total number of mortgages. However, coverage varies by category and geography.

The House Price Indexes at the county and zip code level are from CoreLogic LoanPerformance (LP). To mitigate small-sample concerns, we use a three-month moving average of the HPI that includes all sales in the zip code, including distressed sales.

Housing Unit data are owner-occupied data from the Census American Community Survey, 2005-2009 estimates.