by Calculated Risk on 4/24/2015 09:15:00 AM

According to Black Knight's First Look report for March, the percent of loans delinquent decreased 12% in March compared to February, and declined 15% year-over-year.

The percent of loans in the foreclosure process declined 2% in March and were down about 27% 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 4.70% in March, down from 5.36% in February.  This is the lowest level of delinquencies since August 2007.

The percent of loans in the foreclosure process declined in March to 1.55%.  This was the lowest level of foreclosure inventory since December 2007.

The number of delinquent properties, but not in foreclosure, is down 390,000 properties year-over-year, and the number of properties in the foreclosure process is down 288,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for March in early May.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	Mar 2015	Feb 2015	Mar 2014	Mar 2013
Delinquent	4.70%	5.36%	5.52%	6.59%
In Foreclosure	1.55%	1.58%	2.13%	3.38%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:	1,409,000	1,646,000	1,571,000	1,842,000
Number of properties that are 90 or more days delinquent, but not in foreclosure:	971,000	1,067,000	1,199,000	1,466,000
Number of properties in foreclosure pre-sale inventory:	782,000	800,000	1,070,000	1,689,000
Total Properties	3,162,000	3,512,000	3,840,000	4,997,000