by Calculated Risk on 5/24/2017 03:07:00 PM

From Black Knight: Black Knight Financial Services’ First Look at April 2017 Mortgage Data

• First-lien mortgage delinquencies rose by 13 percent, the largest monthly increase since November 2008

• Month-over-month, the number of borrowers past due on mortgage payments increased by 241,000

• April’s delinquency rate increase was primarily calendar-driven (due to both the month ending on a Sunday and March being the typical calendar-year low) and largely isolated to early-stage delinquencies

• The inventory of loans in active foreclosure continues to decline, hitting a 10-year low in April

• At just 52,800, April saw the fewest monthly foreclosure starts since January 2005

According to Black Knight's First Look report for April, the percent of loans delinquent increased 12.9% in April compared to March, and declined 3.6% year-over-year.

The percent of loans in the foreclosure process declined 3.5% in April and were down 27.3% 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 4.08% in April, up from 3.62% in March.

The percent of loans in the foreclosure process declined in April to 0.85%.

The number of delinquent properties, but not in foreclosure, is down 74,000 properties year-over-year, and the number of properties in the foreclosure process is down 162,000 properties year-over-year.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	Apr 2017	Mar 2017	Apr 2016	Apr 2015
Delinquent	4.08%	3.62%	4.24%	4.72%
In Foreclosure	0.85%	0.88%	1.17%	1.63%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	2,072,000	1,831,000	2,146,000	2,381,000
Number of properties in foreclosure pre-sale inventory:	433,000	448,000	820,000	1,064,000
Total Properties	2,505,000	2,279,000	2,741,000	3,201,000