Thursday, July 20, 2017

Black Knight: Mortgage Delinquencies mostly unchanged in June

by Bill McBride on 7/20/2017 12:49:00 PM

From Black Knight: Black Knight’ First Look at June 2017 Mortgage Data: Delinquencies Hold Steady Despite Seasonal Pressure; Low Interest Rates Help Prepayments Continue to Climb

• Despite upward seasonal pressure, mortgage delinquencies held steady at 3.8 percent in June

• While total non-current inventory saw a three percent seasonal rise over Q2 2017, the inventory of serious delinquencies (loans 90 or more days past due) and active foreclosures fell by seven percent

• In total, serious delinquencies and active foreclosures have declined by 17 percent (nearly 200,000 loans) this year

• Low interest rates helped push prepayment activity up another 5.3 percent in June, following May’s 23 percent rise
According to Black Knight's First Look report for June, the percent of loans delinquent increased slightly in June compared to May, and declined 11.8% year-over-year.

The percent of loans in the foreclosure process declined 2.7% in June and were down 27.0% 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 3.80% in June, up from 3.79% in May.

The percent of loans in the foreclosure process declined in June to 0.81%.

The number of delinquent properties, but not in foreclosure, is down 246,000 properties year-over-year, and the number of properties in the foreclosure process is down 148,000 properties year-over-year.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
  June
2017
May
2017
June
2016
June
2015
Delinquent3.80%3.79%4.31%4.79%
In Foreclosure0.81%0.83%1.10%1.56%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:1,932,0001,927,0002,178,0002,415,000
Number of properties in foreclosure pre-sale inventory:410,000421,000558,000789,000
Total Properties2,342,0002,348,0002,736,0003,204,000