Thursday, December 24, 2015

Black Knight's First Look at November Mortgage Data, "Fewer than 700,000 Active Foreclosures Remain"

by Bill McBride on 12/24/2015 11:06:00 AM

From Black Knight: Black Knight Financial Services’ “First Look” at November 2015 Mortgage Data, Foreclosure Starts Hit Nine-Year Low; Fewer than 700,000 Active Foreclosures Remain

According to Black Knight's First Look report for November, the percent of loans delinquent increased 3% in November compared to October, and declined 18.3% year-over-year.

The percent of loans in the foreclosure process declined 3% in November and were down 21% 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 4.92% in November, up seasonally from 4.77% in October.

The percent of loans in the foreclosure process declined in November to 1.38%.

The number of delinquent properties, but not in foreclosure, is down 546,000 properties year-over-year, and the number of properties in the foreclosure process is down 185,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for November in early January.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
  Nov
2015
Oct
2015
Nov
2014
Nov
2013
Delinquent4.92%4.77%6.03%6.45%
In Foreclosure1.38%1.43%1.75%2.54%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:2,491,0002,415,0003,037,0003,252,000
Number of properties in foreclosure pre-sale inventory:698,000721,000883,0001,281,000
Total Properties3,189,0003,136,0003,921,0004,533,000