by Calculated Risk on 8/26/2014 08:01:00 AM

According to Black Knight's First Look report for July, the percent of loans delinquent decreased in July compared to June, and declined by 12% year-over-year.

Also the percent of loans in the foreclosure process declined further in July and were down 34% over the last year.  Foreclosure inventory was at the lowest level since March 2008.

Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 5.64% in July, down from 5.70% in June. The normal rate for delinquencies is around 4.5% to 5%.

The percent of loans in the foreclosure process declined to 1.85% in July from 1.88% in June.  

The number of delinquent properties, but not in foreclosure, is down 344,000 properties year-over-year, and the number of properties in the foreclosure process is down 471,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for July in early September.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	July 2014	June 2014	July 2013	July 2012
Delinquent	5.64%	5.70%	6.41%	7.03%
In Foreclosure	1.85%	1.88%	2.82%	4.08%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:	1,713,000	1,728,000	1,846,000	1,960,000
Number of properties that are 90 or more days delinquent, but not in foreclosure:	1,136,000	1,155,000	1,347,000	1,650,000
Number of properties in foreclosure pre-sale inventory:	935,000	951,000	1,406,000	2,042,000
Total Properties	3,785,000	3,834,000	4,599,000	5,562,000