From Black Knight: Black Knight Financial Services’ First Look at February Mortgage Data: Delinquencies Fully Recover from January Spike, Hit Lowest Level Since April 2007
• Delinquency rate down 13 percent month-over-month; down nearly 16 percent year-over-year
• Total non-current inventory falls below 3 million for the first time in over eight years
According to Black Knight’s First Look report for February, the percent of loans delinquent decreased 12.6% in February compared to January, and declined 15.9% year-over-year.
The percent of loans in the foreclosure process declined 0.6% in February and were down 24.6% 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 4.45% in February, down from 5.09% in January. This is the lowest delinquency rate since April 2007.
The percent of loans in the foreclosure process declined slightly in February to 1.30%.
The number of delinquent properties, but not in foreclosure, is down 419,000 properties year-over-year, and the number of properties in the foreclosure process is down 211,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for February on April 4th.
| Black Knight: Percent Loans Delinquent and in Foreclosure Process | ||||
|---|---|---|---|---|
| Feb 2016 |
Jan 2016 |
Feb 2015 |
Feb 2014 |
|
| Delinquent | 4.45% | 5.09% | 5.30% | 5.94% |
| In Foreclosure | 1.30% | 1.30% | 1.72% | 2.30% |
| Number of properties: | ||||
| Number of properties that are delinquent, but not in foreclosure: | 2,252,000 | 2,575,000 | 2,671,000 | 2,994,000 |
| Number of properties in foreclosure pre-sale inventory: | 655,000 | 659,000 | 866,000 | 1,156,000 |
| Total Properties | 2,907,000 | 3,234,000 | 3,537,000 | 4,150,000 |