Black Knight: Delinquencies Fell But Foreclosure Starts Jumped In December

Posted by Patrick Barnard on January 22, 2016 No Comments
Categories : Mortgage Servicing

The total U.S. loan delinquency rate (30 days or more past due but not in foreclosure) in December was 4.78%, a decrease of 2.99% compared with November and a decrease of 14.98% compared with December 2014, according to Black Knight Financial Services’ First Look report.

About 2.408 million properties were 30 or more days past due, but not in foreclosure – a decrease of about 83,000 compared with November and a decrease of about 425,000 compared with December 2014, the mortgage software and analytics firm reports.

About 808,000 properties were seriously delinquent (90 days or more days past due – but not in foreclosure) a decrease of 19,000 compared with November and a decrease of
280,000 compared to a year earlier.

There were about 78,100 foreclosure starts in December – an increase of 17.27% compared with November but a decrease of 14.64% compared with December 2014.

The total U.S. foreclosure presale inventory stood at about 689,000 units, or about 1.37% of all homes with a mortgage, a decrease of 9,000, or about 1.0%, compared with November and a decrease of 21.85%, or 192,000, compared with a year earlier.

The monthly prepayment rate was 1.14%, an increase of 23.85% compared with November and an increase of 1.29% compared with December 2014.

About 3.097 million properties were 30 or more days past due or in foreclosure – a decrease of 92,000 compared with November and a decrease of 618,000 compared with a year earlier.

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