by Calculated Risk on 8/23/2018 02:59:00 PM
Thursday, August 23, 2018
• Continued hurricane-related cure activity pushed delinquencies to their lowest level in more than 12 yearsAccording to Black Knight's First Look report for July, the percent of loans delinquent decreased 3.4% in July compared to June, and decreased 7.5% year-over-year.
• Foreclosure starts rose 11 percent over June’s 17-year low to 48,300, for the highest total in three months
• Though starts rose nationwide, foreclosure referrals in hurricane-affected areas of Texas increased by a higher-than-average 19 percent
• Fewer completions and an increase in starts caused foreclosure inventory to rise slightly in July, for just the second such increase in the past three years
• Improving delinquencies outweighed the slight increase in foreclosures, bringing the total non-current population (all loans 30 or more days delinquent or in active foreclosure) to a more than 12-year low
The percent of loans in the foreclosure process increased 0.7% in July 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 3.61% in July, down from 3.74% in June.
The percent of loans in the foreclosure process increased slightly in July to 0.57% (from 0.56% in June).
The number of delinquent properties, but not in foreclosure, is down 125,000 properties year-over-year, and the number of properties in the foreclosure process is down 105,000 properties year-over-year.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are delinquent, but not in foreclosure:||1,861,000||1,925,000||1,986,000||2,286,000|
|Number of properties in foreclosure pre-sale inventory:||293,000||291,000||398,000||550,000|
Posted by Calculated Risk on 8/23/2018 02:59:00 PM