Friday, September 25, 2015

Black Knight's First Look at August: Mortgage "Delinquency Rate Sees Largest 12-Month Decline in Four Years"

by Bill McBride on 9/25/2015 11:59:00 AM

From Black Knight: Black Knight Financial Services' First Look at August Mortgage Data: Despite Monthly Rise, Delinquency Rate Sees Largest 12-Month Decline in Four Years

According to Black Knight's First Look report for August, the percent of loans delinquent increased 2.5% in August compared to July, and declined 18.2% year-over-year.

The percent of loans in the foreclosure process declined 2% in August and were down 24% 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 4.83% in August, up from 4.71% in July.

The percent of loans in the foreclosure process declined in August to 1.37%.  This was the lowest level of foreclosure inventory since 2007.

The number of delinquent properties, but not in foreclosure, is down 548,000 properties year-over-year, and the number of properties in the foreclosure process is down 217,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for August in early October.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
  Aug
2015
July
2015
Aug
2014
Aug
2013
Delinquent4.83%4.71%5.90%6.20%
In Foreclosure1.37%1.40%1.80%2.66%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:1,582,0001,503,0001,8520001,836,000
Number of properties that are 90 or more days delinquent, but not in foreclosure:865,000886,0001,143,0001,288,000
Number of properties in foreclosure pre-sale inventory:696,000711,000913,0001,341,000
Total Properties3,142,0003,100,0003,908,0004,465,000