Monday, January 23, 2017

Black Knight: Mortgage Delinquencies Declined in December

by Bill McBride on 1/23/2017 10:11:00 AM

From Black Knight: Black Knight Financial Services’ First Look at December 2016 Mortgage Data

• The inventory of loans in active foreclosure nationwide declined by more than 200,000 in 2016

  • Delinquencies were down 0.91 percent from November 2016 and 7.5 percent from December 2015

  • December’s 59,700 foreclosure starts represented a 24 percent decline from the same time last year

  • Pre-payment activity continues to slow, down 5.5 percent from November
According to Black Knight's First Look report for December, the percent of loans delinquent decreased 0.9% in December compared to November, and declined 7.5% year-over-year.

The percent of loans in the foreclosure process declined 3.3% in December and were down 30.5% 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 4.42% in December, down from 4.46% in November.

The percent of loans in the foreclosure process declined in December to 0.95%.

The number of delinquent properties, but not in foreclosure, is down 286,000 properties year-over-year, and the number of properties in the foreclosure process is down 206,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for December by February 6th.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
  Dec
2016
Nov
2016
Dec
2015
Dec
2014
Delinquent4.42%4.46%4.78%5.62%
In Foreclosure0.95%0.98%1.37%1.75%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:2,248,0002,263,0002,408,0002,833,000
Number of properties in foreclosure pre-sale inventory:483,000498,000689,000881,000
Total Properties2,731,0002,761,0003,097,0003,715,000