...RMBS Delinquencies Showed Further Improvement: The past three quarters of 60+ day delinquencies showed steady declines, to 18.9% at the end of 4Q14 and was down 1.8% from the prior year. While the average number of months in the 60+ day delinquency status came down as well, this metric remained in the 20 month¡21 month range seen for the prior four quarters. Servicing Advance Rates Continued to Increase: Although bank servicers have generally maintained or reduced their servicing advance rates, nonbank servicers, including Ocwen, gradually increased their advancing in 2014. Loan Modifications Remained in Focus: The improved economy has contributed to a general reduction in loan performance, and the level of modifications was notably down from one year ago. However, the volume of mortgage modifications showed an increase in 4Q14 after declining in the prior two quarters. Furthermore, although the percentage of all modified loans with principal reductions was down from one year ago, the past...
