From Black Knight: Black Knight Financial Services’ First Look at May 2016
• Foreclosure inventory now below 575,000 from over 800,000 just 12 months ago
• Foreclosure starts up from 10-year low in April, but at 62,100 remain below pre-crisis levels
• Prepayment speeds (historically a good indicator of refinance activity) continue to trail 2015 levels despite interest rates being lower than last year
• Delinquencies inched up in May; still down by over 13 percent on an annual basis
According to Black Knight’s First Look report for May, the percent of loans delinquent increased 0.4% in May compared to April, and declined 13.5% year-over-year.
The percent of loans in the foreclosure process declined 3.6% in May and were down 28.8% 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 4.25% in May, up from 4.24% in April.
The percent of loans in the foreclosure process declined in May to 1.13%.
The number of delinquent properties, but not in foreclosure, is down 325,000 properties year-over-year, and the number of properties in the foreclosure process is down 229,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for May by July 11th.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are delinquent, but not in foreclosure:||2,153,000||2,146,000||2,478,000||2,836,000|
|Number of properties in foreclosure pre-sale inventory:||574,000||595,000||803,000||1,022,000|