Even though first-mortgage delinquency stands higher than it did a year ago, residential loan servicers made gains on a month-over-month basis.

Ninety-day delinquency on consumer credit — including automobile loans, bank cards and first- and second-lien mortgages — was 0.89 percent as of May.

That was according to the Consumer Credit Default Composite Index, which indicated consumer performance improved from 0.92 percent the previous month.

Source: Mortgage Daily