Black Knight: Mortgage Delinquency Rate Continued To Fall In March

Posted by Patrick Barnard on April 25, 2016 No Comments
Categories : Mortgage Servicing

The mortgage delinquency rate (30 days or more past due but not in foreclosure) fell to 4.08% of all loans in March – a decrease of 8.37% compared with February and a decrease of 12.42% compared with March 2015, according to Black Knight Financial Services’ “First Look” report.

About 2.062 million loans were 30 days or more past due – down about 190,000 compared with February and down about 287,000 compared with March 2015.

About 733,000 loans were seriously delinquent (90 days or more past due) – down about 39,000 loans compared with February and down about 193,000 compared with March 2015.

There were about 72,800 foreclosure starts in March – a decrease of 13.64% compared with February and a decrease of 21.04% compared with March 2015.

The total presale foreclosure inventory was about 1.25% of all properties with a mortgage – a decrease of 3.69% month over month and a decrease of 25.59% year over year.

There were about 631,000 properties in the presale foreclosure inventory – down about 24,000 compared with the previous month and down about 215,000 compared with a year earlier.

States with the highest percentages of delinquent loans included Mississippi (10.80%), New Jersey (9.07%), Louisiana (8.89%), New York (7.87%) and Maine (7.77%).

States with the highest percentages of seriously delinquent loans included Mississippi (3.65%), Louisiana (2.73%), Alabama (2.58%), Arkansas (2.21%) and Rhode Island (2.16%).

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