Delinquencies Surge in DSL's and BKUNA's Markets

These are the 25 communities where the 30-day delinquency rate for all mortgages has increased the most since Q4 2005. (Take a look at the great dataset at the WSJ.)

Remember, this data includes all types of loans. That means that prime loans are probably bringing down the average, and the Alt-A and subprime delinquency rates are even higher than listed.



Modesto, Stockton, Vallejo, etc. - that's Downey Financial. Except their delinquency rate is probably significantly worse, because their portfolio is 88% stated or no-income, 85% option-ARM, etc.

And when you see those FL cities, think BKUNA.

Also note that DSL and BKUNA had Q4 operating cash flow of
-$100M and -$126M, respectively.