Black Knight: Delinquencies Hit Lowest Level Since April 2007

Posted by Patrick Barnard on March 23, 2016 No Comments
Categories : Mortgage Servicing

The total U.S. loan delinquency rate (on loans 30 or more days past due but not in foreclosure) in February was 4.45%, a decrease of 12.57% compared with January and a decrease of 15.93% compared with February 2015, according to Black Knight Financial Services’ First Look report.

About 2.252 million properties were 30 or more days past due but not in foreclosure – a decrease of about 323,000 compared with January and a decrease of 419,000 from February 2015.

About 772,000 properties were seriously delinquent (90 or more days past due but not in foreclosure) – a decrease of 59,000 from the prior month and a decrease of 247,000 from a year ago.

There were about 84,300 foreclosure starts in January – an increase of 17.25% compared with February and an increase of 9.20% compared with February 2015.

The total U.S. foreclosure presale inventory stood at about 655,000 units, or about 1.30% of all homes with a mortgage, a decrease of 4,000, or about 0.64%, compared with the prior month and a decrease of 211,000, or 24.59%, compared with a year earlier.

The monthly prepayment rate was 0.89%, an increase of 10.23% compared with January but a decrease of 22.12% compared with February 2015.

About 2.907 million properties were 30 or more days past due or in foreclosure – a decrease of 327,000 compared with the prior month and a decrease of 630,000 compared with the year earlier.

Register here to receive our Latest Headlines email newsletter

Leave a Comment