November remittance data ushered in more bad news this month, but the results were surprisingly milder than October.
The monthly change in 30- and 60-day delinquencies, "after surging at the fastest pace ever" last month returned to their previous ramp, said UBS analysts in a recent report. "That ramp is still steep by historical standards but substantially slower than last month's pace," the bank said. For 06-2, 07-1 and 07-2 the month-over-month change in 30-day delinqencies was 178 basis points, 193 basis points and 239 basis points, respectively, which was slightly lower than the 188 basis points, 227 basis points and 243 basis points seen last month, according to Citigroup. For 06-1 the month-over-month change was 288 basis points - higher than the 257 basis points in October.