by Bill McBride on 5/22/2015 07:01:00 AM
Friday, May 22, 2015
According to Black Knight's First Look report for April, the percent of loans delinquent increased 1% in April compared to March, and declined 15% year-over-year.
The percent of loans in the foreclosure process declined 2% in March and were down 25% 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 4.77% in April, up from 4.70% in March.
The percent of loans in the foreclosure process declined in April to 1.51%. This was the lowest level of foreclosure inventory since January 2008.
The number of delinquent properties, but not in foreclosure, is down 406,000 properties year-over-year, and the number of properties in the foreclosure process is down 252,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for April in early June.
|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:||1,463,000||1,409,000||1,634,000||1,717,000|
|Number of properties that are 90 or more days delinquent, but not in foreclosure:||952,000||971,000||1,187,000||1,394,000|
|Number of properties in foreclosure pre-sale inventory:||764,000||782,000||1,016,000||1,588,000|