Black Knight: 2015 Ends with 15% Decline in Delinquencies
Black Knight Financial Services, Jacksonville, Fla., said 2015 ended with a 22 percent decline in the nation’s foreclosure inventory and a 15 percent decline in mortgage delinquencies.
The company’s “first look” Mortgage Monitor also reported a 3 percent in December delinquency rates from November. For the year, 4.8 percent of active mortgages had some delinquency. The 90-day delinquent inventory fell by 19,000 in December, reversing two previous monthly increases.
The report said although foreclosure starts rose by more than 17 percent from post-crisis low in November, they were still 15 percent below a year ago. The prepayment rate rose by 24 percent from November, suggesting an increase in refinance activity.
Other report highlights:
–Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 4.78 percent, a month-over-month decline of 2.99 percent and a year-over-year decline of 14.98 percent.
–Total U.S. foreclosure pre-sale inventory rate: 1.37 percent, a month-over-month decline of 1.00 percent and a year-over-year decline of 21.85 percent.
–Total U.S. foreclosure starts: 78,100, a month-over-month increase of 17.27 percent but a year-over-year decline of 14.64 percent
–Monthly Prepayment Rate: 1.14 percent, a month-over-month increase of 23.85 percent and a year-over-year increase of 1.29 percent.
–Foreclosure Sales as a Percentage of 90-Day Delinquencies: 1.87 percent, a month-over-month increase of 5.87 percent and a year-over-year increase of 27.82 percent.
–Properties 30 or more days past due, but not in foreclosure: 2.408 million, a month-over-month decline of 83,000 and a year-over-year decline of 425,000.
–Properties 90 or more days past due, but not in foreclosure: 808,000, a month-over-month decline of 19,000 and a year-over-year decline of 280,000.
–Properties in foreclosure pre-sale inventory: 689,000, a month-over-month decline of 9,000 and a year-over-year decline of 192,000.
–Properties 30 or more days past due or in foreclosure: 3.097 million, a month-over-month decline of 92,000 and a year-over-year decline of 618,000.
–States with Highest Percentage of Non-Current Loans: Mississippi (12.33%), New Jersey (10.13%); Louisiana (9.90%), Maine (8.90%) and New York (8.79%).
–States with Lowest Percentage of Non-Current Loans: North Dakota (2.17%), Alaska (2.88%), Colorado (2.90%), Minnesota (3.15%) and South Dakota (3.31%).
