Black Knight: Delinquencies Increased In August, But Were Down Year Over Year

Posted by Patrick Barnard on September 25, 2015 No Comments
Categories : Mortgage Servicing

The U.S. loan delinquency rate (loans 30 days or more past due but not in foreclosure) reached 4.83% of all loans in July – an increase of 2.47% compared with August but a decrease of 18.22% compared with August 2014, according to Black Knight Financial Services' First Look mortgage report.

There were a total of 80,500 foreclosure starts in August, an increase of 6.76% compared with July but a decrease of 1.35% compared with August 2014.

The monthly prepayment rate was 1.07%, a decrease of 15.11% compared with July but an increase of 11.47% compared with August 2014.

About 2.45 million properties were delinquent but not in foreclosure in August, an increase of about 58,000 compared with July but down 548,000 compared with August 2014.

About 865,000 properties were seriously delinquent (90 days or more past due, but not in foreclosure), a decrease of about 21,000 compared with July and down about 278,000 compared with August 2014.

There were about 696,000 properties in foreclosure presale inventory, a decrease of about 15,000 compared with July and down about 217,000 compared with August 2014.

About 3.1 million properties were either delinquent or in foreclosure, down about 42,000 compared with the previous month and down about 766,000 compared with August of last year.

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