The Ticker

Fed: Student loan 
deliquencies soar

Student loans had a higher delinquency rate than credit cards, auto loans and home mortgages over the past three years, the Federal Reserve Bank of New York reported recently.

Outstanding student loans in the country have reached $1.16 trillion, an increase of $77 billion from a year ago. About 11.3 percent were in default — more than 90 days delinquent — in the last quarter of 2014, compared with 11.1 percent in the previous quarter.

By comparison, 3.5 percent of car loans were past due, as were just 3.1 percent of mortgage loans.

"Although we've seen an overall improvement in delinquency rates since the Great Recession, the increasing trend in student loan balances and delinquencies is concerning," Donghoon Lee, research officer at the Federal Reserve Bank of New York, said in a statement.

But even as borrowers struggle to make payments, more continue to jump into the loan pool to help finance their schooling. Moreover, the age of student-loan borrowers is creeping upward. More than a third are older than 40, according to the New York Fed's Liberty Street Economics blog.

Vermont defends Gruber contract

A top aide to Vermont Gov. Peter Shumlin is defending the administration's handling of a contract with Massachusetts Institute of Technology health economist Jonathan Gruber, after criticisms were lodged by the state auditor.

Administration Secretary Justin Johnson made public his reply to Vermont Auditor Doug Hoffer, in which Johnson says officials in the state office of health care reform kept a close eye on work done by Gruber.

Hoffer says the evidence suggests that Gruber overstated the hours worked by a $100-per-hour research assistant, and that top state health care officials ignored the obvious signs that something was amiss.

The state rewrote its contract with Gruber after he generated national headlines when videos were released of him talking about the "stupidity of the American voter."

Today

 Standard & Poor's releases S&P/Case-Shiller index of home prices for December and the fourth quarter.

 The Conference Board releases the Consumer Confidence Index for February.

TOMORROW

 Commerce Department releases new home sales for January.

THE SHUFFLE

CBRE Group Inc. announced that Todd Trehubenko has joined CBRE Capital Markets' debt & structured finance team as senior vice president. Based in Boston, he will originate multifamily loans with a particular focus on FHA-insured debt. Trehubenko previously worked at Walker & Dunlop, and also served as CEO of Recap Real Estate Advisors in Boston.

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