Thursday, July 23, 2015

Black Knight's First Look at June: Foreclosure Inventory at Lowest Level Since 2007

by Bill McBride on 7/23/2015 02:45:00 PM

From Black Knight: Black Knight Financial Services’ “First Look” at June Mortgage Data: Foreclosure Inventory at Lowest Level Since 2007, Still Three Times “Normal” Rate

According to Black Knight's First Look report for June, the percent of loans delinquent decreased 3% in June compared to May, and declined 15.5% year-over-year.

The percent of loans in the foreclosure process declined 2% in June and were down 23% 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 4.82% in June, down from 4.96% in May.

The percent of loans in the foreclosure process declined in June to 1.46%.  This was the lowest level of foreclosure inventory since 2007.

The number of delinquent properties, but not in foreclosure, is down 439,000 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 June in early August.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
  June
2015
May
2015
June
2014
June
2013
Delinquent4.82%4.96%5.70%6.68%
In Foreclosure1.46%1.49%1.88%2.93%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:1,549,0001,591,0001,7280001,983,000
Number of properties that are 90 or more days delinquent, but not in foreclosure:895,000922,0001,155,0001,345,000
Number of properties in foreclosure pre-sale inventory:739,000754,000951,0001,458,000
Total Properties3,183,0003,268,0003,834,0004,785,000