deliquency

Delinquent Prime Mortgage Cure Rate 6.6%, down from 45%

What is a cure rate? It's the percentage of loans where people who have fallen behind in their payments manage to make up the difference and get back up to date and in good standing.

From the Fitch press release:

While the number of U.S. prime RMBS loans rolling into a delinquency status has recently slowed, this improvement is being overwhelmed by the dramatic decrease in delinquency cure rates that has occurred since 2006, according to Fitch Ratings. An increasing number of borrowers who are 'underwater' on their mortgages appear to be driving this trend, as Fitch has also observed.