by Bill McBride on 6/24/2015 01:11:00 PM
Wednesday, June 24, 2015
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|
|Number of properties:|
|Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:||1,591,000||1,463,000||1,670,000||1,708,000|
|Number of properties that are 90 or more days delinquent, but not in foreclosure:||922,000||952,000||1,169,000||1,335,000|
|Number of properties in foreclosure pre-sale inventory:||754,000||764,000||966,000||1,525,000|