by Bill McBride on 2/25/2015 12:46:00 PM
Wednesday, February 25, 2015
According to Black Knight's First Look report for January, the percent of loans delinquent decreased 1% in January compared to December, and declined 11% year-over-year.
The percent of loans in the foreclosure process declined slightly in January and were down about 31% over the last year.
Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 5.56% in January, down from 5.64% in December. The normal rate for delinquencies is around 4.5% to 5%.
The percent of loans in the foreclosure process declined slightly in January and remained at 1.61%.
The number of delinquent properties, but not in foreclosure, is down 327,000 properties year-over-year, and the number of properties in the foreclosure process is down 360,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for February in March.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:||1,701,000||1,736,000||1,851,000||1,974,000|
|Number of properties that are 90 or more days delinquent, but not in foreclosure:||1,112,000||1,132,000||1,289,000||1,531,000|
|Number of properties in foreclosure pre-sale inventory:||815,000||820,000||1,175,000||1,703,000|