First, second lien mortgage defaults rise in August 2015

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First and second lien mortgage defaults both increased in August from July, according to the S&P/Experian Consumer Credit Default Indices.

By using a representative sample of loan level payment data sourced directly from lenders included in Experian’s consumer credit database, these indices are constructed to track the #default experience of consumer balances in four key loan categories: auto, bankcard, first mortgage lien and second #mortgage lien.

Four of the five major cities saw their default rates increase in the month of August.

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http://www.housingwire.com/articles/35062-first-second-lien-mortgage-defaults-rise-in-august