Florida Mortgage Meltdown

FOUNDATION MORTGAGE ANNIHILATIONOMORTGAGE PROFESSIONALS O FLORIDA The housing crisis affected hundreds of thousands of Americans who lost their homes and jobs between 2006 and 2012. Florida was one of the hardest hit states in the U.S. Learn about the devastating toll the housing crisis has taken on Florida's economy--will it ever recover? WORST-HIT FLORIDA CITIES ORLANDO-KISSIMMEE-SANFORD 27.7% 53.42% of houses were built in 2000 or later of homes are underwater 20.7% 10% of housing unites Unemployment are vacant LAKELAND-WINTER HAVEN 25.2% 50.33% of houses were built in 2000 or later of homes are underwater 21% 12% of housing unites Unemployment are vacant PORT ST. LUCIE 25.2% 50.89% of houses were built in 2000 or later of homes are underwater 18% 13% of homes sold in the Unemployment past 12 months were: originally foreclosed ACTIVE FLORIDA MORTGAGE LICENCES MORTGAGE BROKER LICENCES 28,140 30,282 2000-2001 Since the year 2000 Mortgage Broker licenses in Florida 2001-2002 2002-2003 41,211 decreased 2003-2004 46,092 2004-2005 59,896 2005-2006 67,266 2006-2007 81,695 85.37% 2007-2008 63,993 2008-2009 65,672 2009-2010 39,956 2010-2011 4,118 20000 40000 6000 80000 100000 MORTGAGE BROKER BUSINESS LICENCES Since the year 2000 Mortgage Broker business licenses in 2000-2001 3,717 2001-2002 4,652 4,547 5,959 2002-2003 Florida decreased 2003-2004 2004-2005 6,789 2005-2006 8,952 2006-2007 9,497 |9937 94.92% 2007-2008 2008-2009 4,571 2009-2010 4,508 2010-2011 189 2000 4000 6000 8000 10000 MORTGAGE LENDER-BRANCH LICENCES 2000-2001 1,112 Since the year 2000 Mortgage 2001-2002 1,353 Lender-Branch 2002-2003 2,304 licenses in Florida decreased 2003-2004 3,053 2004-2005 3,088 2005-2006 3,639 2006-2007 3,320 4.77% 2007-2008 2,654 2008-2009 1,857 2009-2010 2,036 2010-2011 1,059 500 1000 1500 2000 2500 3000 3500 4000 MORTGAGE LENDER-SAVING CLAUSE LICENCES 2000-2001 181 + Since the year 2001-2002 174 2000 Mortgage 2002-2003 155 Lender-Saving Clause licenses in 2003-2004 152 Florida decreased 2004-2005 135 2005-2006 130 123 118 2006-2007 2007-2008 95.58% 2008-2009 95 2009-2010 90 2010-2011 50 100 150 200 4.5 MILLION American households are either THE HOUSING AND MORTGAGE CRISIS: AN OVERVIEW three payments late, or in foreclosure proceedings (2011) House prices fell = 250,000 homes 35% since the housing crisis began in 2006, compared to the 31% fall experienced during the Great Depression 1N 4 HOMEOWNERS with a mortgage (11 million households) have an underwater mortgage That's the 3X same as 53.77% the undergraduate population at Florida State University decrease in the number of all active licenses registered through the Florida Office of Financial Regulation since the year 2000 From 52,281 24,168 To .. in 2000 in 2011 And 79.39% 117,283 decrease since 2006-07 when the peak reached Thats only And 30,000 6,000 less than the number of people times more people that died on the Titanic who died in the Hiroshima bombing, = 500 people and 3,000 more than the death count from the Nagasaki bomb FORECLOSURE IN FLORIDA 2011 of loans in Florida are in some 23% Florida ranked stage of delinquency O TH of foreclosed households 92% are married households in the country in foreclosure rates 65% have children in the home 2008 IN 54 housing units received a foreclosure filing 2010 FORECLOSED IN 29 housing units received a foreclosure filing 2010 FORECLOSURE RATES (PER 1,000 HOUSEHOLDS) by County Lee 52 Okeechobee 17 Dade 48 Citrus 16 Osceola 46 Highlands 16 Charlotte 45 Alachua 15 Orange 44 Gulf 15 Broward 44 Franklin 15 Seminole 43 Levy 14 Clay 40 Monroe 13 Palm Beach 40 Escambia 13 St. Johns 38 Gilchrist 13 Pasco 36 Wakulla 12 Hillsborough 36 Hardee 12 Columbia Dixie Marion 34 10 Manatee 34 Collier 33 Suwannee 9. Duval 33 Putnam Brevard 32 Gadsden St. Lucie 32 Holmes Flagler 31 Glades Lake 31 Calhoun Sarasota 30 Washington Indian River 25 Hendry Polk 25 Jackson Walton 24 Bradford Santa Rosa 24 Sumter Pinellas 23 Leon Nassau 23 Hamilton 5 Liberty Lafayette Jefferson I Martin 21 5 Hernando 20 4 Okaloosa 20 3 Volusia 19 Union 2 Bay 18 Taylor I Baker 17 SOURCES http://www.huffingtonpost.com/2011/10/28/underwater-mortgages-american-cities-sunk-by-u_n_1064603.html#s441017&title=9_LakelandWinter_Haven http://www.gainesville.com/article/20110620/NEWS/110629985 http://www.thefloridacurrent.com/article.cfm?id%3D26109513 http://www.floridarealtors.org/Research/upload/SGS-FR-11-FOF-Report1-VPRESS.pdf http://www.flofr.com/Finance/Forms/finregstats.pdf http://www.e-foreclosuresearch.com/listings_view.php?state_sg=FL http://www.banthebomb.org/archives/magazine/hiroshim.htm http://finance.yahoo.com/news/us-home-prices-drop-6th-130235133.html http://www.cnbc.com/id/43395857/US_Housing_Crisis_Is_Now_Worse Than_Great_Depression