Black Knight: National Mortgage Delinquency Rate Decreased in October | Risk Management

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From : Black ’s First Look: Delinquencies Rebound Strongly in ; Number of Seriously Past-Due Loans Falls Below 500,000 for First Time Since 2006

• After rising sharply in September, mortgage delinquencies fell by 8.2 percent in October and are now down by nearly 18 percent from the same time last year

• Serious delinquencies – loans 90 or more days past due – fell by 14,000 from last month and 90,000 from last October to hit a more than 12-year low


• Improvements in hurricane-related delinquencies associated with Harvey and Irma – which spiked in late 2017 – are contributing to the strong year-over-year improvements

• Despite foreclosure starts seeing a monthly increase from September’s nearly 18-year low, the number of loans in active foreclosure fell slightly from September and has by 24 percent from last year

• Prepayment activity – now driven primarily by housing turnover – climbed 14 percent, but remains 29 percent below last year’s level

According to Black Knight’s First Look report for October, the percent of loans delinquent decreased 8.2% in October compared to September, and decreased 17.9% year-over-year.

The percent of loans in the foreclosure process decreased 0.5% in October and were down 24.2% over the last year.

Black Knight reported the U.S. mortgage (loans 30 or more days past due, but not in foreclosure) was 3.64% in October, down from 3.97% in September.

The percent of loans in the foreclosure process decreased slightly in October to 0.52% from 0.52% in September.

The number of delinquent properties, but not in foreclosure, is down 378,000 properties year-over-year, and the number of properties in the foreclosure process is down 81,000 properties year-over-year.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
Oct
2018
Sept
2018
Oct
2017
Oct
2016
Delinquent 3.64% 3.97% 4.44% 4.35%
In Foreclosure 0.52% 0.52% 0.68% 0.99%
Number of properties:
Number of properties that are delinquent, but not in foreclosure: 1,884,000 2,049,000 2,262,000 2,202,000
Number of properties in foreclosure pre-sale inventory: 267,000 268,000 348,000 504,000
Total Properties 2,152,000 2,317,000 2,610,000 2,706,000

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