by Calculated Risk on 3/23/2015 07:01:00 AM

According to Black Knight's First Look report for February, the percent of loans delinquent decreased 3.7% in February compared to January, and declined 10% year-over-year.

The percent of loans in the foreclosure process declined 2% in February and were down about 29% 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 5.36% in February, down from 5.56% in January.  The normal rate for delinquencies is around 4.5% to 5%.  This is the lowest level of delinquencies since August 2007.

The percent of loans in the foreclosure process declined in February to 1.58%.  This was the lowest level of foreclosure inventory since December 2007.

The number of delinquent properties, but not in foreclosure, is down 453,000 properties year-over-year, and the number of properties in the foreclosure process is down 315,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for February in early April.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	Feb 2015	Jan 2015	Feb 2014	Feb 2013
Delinquent	5.36%	5.56%	5.97%	6.80%
In Foreclosure	1.58%	1.61%	2.22%	3.38%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:	1,646,000	1,701,000	1,749,000	1,927,000
Number of properties that are 90 or more days delinquent, but not in foreclosure:	1,067,000	1,112,000	1,242,000	1,483,000
Number of properties in foreclosure pre-sale inventory:	800,000	815,000	1,115,000	1,694,000
Total Properties	3,512,000	3,628,000	4,106,000	5,104,000