Residential delinquencies climbed to yet another new high at March 31 with 10.06% of all mortgagors behind on their payments, according to new figures released by the Mortgage Bankers Association (MBA).

According to calculations made by National Mortgage News using MBA's findings, that means $1 trillion in both first and second liens are now in arrears.

Compared to the same period a year ago, late payments rose 10%. Late payments worsened in all delinquency categories, but there was a slight respite in the "seriously delinquent" bucket which includes loans that are 90-days or more late or in foreclosure.

The trade group found that 9.54% of all mortgages were seriously delinquent at March 31, a slight improvement from the 9.67% number recorded at yearend.

At March 31, 7.24% of all loans were seriously delinquent.

The MBA also reported that first-quarter commercial and multifamily mortgage originations came in higher year-to-year but lower quarter-to-quarter.

Originations were up 12% compared to the same period last year but down 26% from the fourth quarter of 2009.

"The results of the survey showed changes in commercial and multifamily mortgage loan origination levels varied significantly between investor groups," said Jamie Woodwell, MBA's vice president of commercial real estate research. "However, it's hard to draw conclusions based on first-quarter numbers given seasonal effects, such as the industry's usual push to finalize deals before the end of the year, resulting in lower first-quarter origination activity."

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