by Calculated Risk on 6/22/2016 11:55:00 AM

From Black Knight: Black Knight Financial Services’ First Look at May 2016

• Foreclosure inventory now below 575,000 from over 800,000 just 12 months ago

• Foreclosure starts up from 10-year low in April, but at 62,100 remain below pre-crisis levels

• Prepayment speeds (historically a good indicator of refinance activity) continue to trail 2015 levels despite interest rates being lower than last year

• Delinquencies inched up in May; still down by over 13 percent on an annual basis

According to Black Knight's First Look report for May, the percent of loans delinquent increased 0.4% in May compared to April, and declined 13.5% year-over-year.

The percent of loans in the foreclosure process declined 3.6% in May and were down 28.8% 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 4.25% in May, up from 4.24% in April.

The percent of loans in the foreclosure process declined in May to 1.13%.

The number of delinquent properties, but not in foreclosure, is down 325,000 properties year-over-year, and the number of properties in the foreclosure process is down 229,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for May by July 11th.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	May 2016	Apr 2016	May 2015	May 2014
Delinquent	4.25%	4.24%	4.91%	5.63%
In Foreclosure	1.13%	1.17%	1.59%	2.03%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	2,153,000	2,146,000	2,478,000	2,836,000
Number of properties in foreclosure pre-sale inventory:	574,000	595,000	803,000	1,022,000
Total Properties	2,727,000	2,741,000	3,280,000	3,857,000