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 |