by Calculated Risk on 2/23/2018 08:30:00 AM

From Black Knight: Black Knight’s First Look: Mortgage Delinquencies Decline Sharply in January; Hurricanes’ Lingering Impact on Performance Continues

• Calendar-driven effects and fewer hurricane-related delinquencies resulted in a 210,000-loan decline in the number of past-due mortgages

• Despite an 8.6 percent monthly decline, delinquencies remain 1.3 percent above last year’s levels

• 146,000 loans remain delinquent as a result of Hurricanes Harvey and Irma, 132,000 of which are seriously delinquent (90 or more days past due)

• An early look at January data on the mortgage market in Puerto Rico shows an additional 57,000 loans still delinquent as a result of Hurricane Maria, with 49,000 seriously delinquent

• The population of loans in active foreclosure rose 6,000 month-over-month, marking only the second monthly rise in more than five years

According to Black Knight's First Look report for January, the percent of loans delinquent decreased 8.6% in January compared to December, and increased 1.3% year-over-year.

The percent of loans in the foreclosure process increased 1.8% in January and were down 30% 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 4.31% in January, down from 4.71% in December.

The percent of loans in the foreclosure process increased slightly in January to 0.66%.

The number of delinquent properties, but not in foreclosure, is up 40,000 properties year-over-year, and the number of properties in the foreclosure process is down 144,000 properties year-over-year.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	Jan 2018	Dec 2017	Jan 2017	Jan 2016
Delinquent	4.31%	4.71%	4.25%	5.09%
In Foreclosure	0.66%	0.65%	0.94%	1.30%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	2,202,000	2,412,000	2,162,000	2,575,000
Number of properties in foreclosure pre-sale inventory:	337,000	331,000	481,000	659,000
Total Properties	2,539,000	2,743,000	2,643,000	3,234,000