Wednesday, June 24, 2015

Black Knight: Mortgage Delinquencies increased in May

by Bill McBride on 6/24/2015 01:11:00 PM

According to Black Knight's First Look report for May, the percent of loans delinquent increased 4% in May compared to April, and declined 12% year-over-year.

The percent of loans in the foreclosure process declined 2% in May and were down 22% 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 4.96% in May, up from 4.77% in April.

The percent of loans in the foreclosure process declined in May to 1.49%.  This was the lowest level of foreclosure inventory since January 2008.

The number of delinquent properties, but not in foreclosure, is down 326,000 properties year-over-year, and the number of properties in the foreclosure process is down 212,000 properties year-over-year.

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

Black Knight: Percent Loans Delinquent and in Foreclosure Process
  May
2015
Apr
2015
May
2014
May
2013
Delinquent4.96%4.70%5.62%6.08%
In Foreclosure1.49%1.55%1.91%3.05%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:1,591,0001,463,0001,670,0001,708,000
Number of properties that are 90 or more days delinquent, but not in foreclosure:922,000952,0001,169,0001,335,000
Number of properties in foreclosure pre-sale inventory:754,000764,000966,0001,525,000
Total Properties3,268,0003,179,0003,805,0004,569,000