Black Knight: Delinquencies Down, Foreclosures Up

Black Knight Financial Services, Jacksonville, Fla., said mortgage delinquencies fell 13 percent month-over-month in February, reversing January’s spike, bringing the national delinquency rate to its lowest point since April 2007.

The company’s First Look Mortgage Monitor also reported foreclosure starts rose by more than 17 percent for the month, driven in large part by an increase in repeat foreclosures in New York, New Jersey and Massachusetts.

The report said the total non-current inventory decreased by 327,000 from January, falling below three million for the first time in more than eight years.

Other report data:
–Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 4.45%, down by nearly 13 percent from January and by nearly 16 percent from a year ago.
–Total U.S. foreclosure pre-sale inventory rate: 1.30%, a drop of 0.64% from January and nearly 25 percent from a year ago.
–Total U.S. foreclosure starts: 84,300, an increase of more than 17% from January and an increase of 9.2% from a year ago.
–Monthly Prepayment Rate: 0.89%, a 10% increase from January but a 22 percent drop from a year ago.
–Properties 30 or more days past due, but not in foreclosure: 2.252 million a drop of 323,000 from January and 419,000 from a year ago.
–Properties 90 or more days past due, but not in foreclosure: 772,000, a 59,000 drop of 59,000 from January and 247,000 from a year ago.
–Properties in foreclosure pre-sale inventory: 655,000, a 4,000 drop from January and 211,000 from a year ago.
–Properties 30 or more days past due or in foreclosure: 2.907 million, a drop of 327,000 from January and 630,000 from a year ago.
–States with highest percentage of non-current properties: Mississippi, New Jersey, Louisiana, New York and Maine.
–States with lowest percentage of non-current properties: Alaska, South Dakota, Minnesota, Colorado and North Dakota.