The percent of loans in the foreclosure process declined 2% in May and were down 22% 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 4.96% in May, up from 4.77% in April.
The percent of loans in the foreclosure process declined in May to 1.49%. This was the lowest level of foreclosure inventory since January 2008.
The number of delinquent properties, but not in foreclosure, is down 326,000 properties year-over-year, and the number of properties in the foreclosure process is down 212,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for May in early July.
| Black Knight: Percent Loans Delinquent and in Foreclosure Process | ||||
|---|---|---|---|---|
| May 2015 |
Apr 2015 |
May 2014 |
May 2013 |
|
| Delinquent | 4.96% | 4.70% | 5.62% | 6.08% |
| In Foreclosure | 1.49% | 1.55% | 1.91% | 3.05% |
| Number of properties: | ||||
| Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure: | 1,591,000 | 1,463,000 | 1,670,000 | 1,708,000 |
| Number of properties that are 90 or more days delinquent, but not in foreclosure: | 922,000 | 952,000 | 1,169,000 | 1,335,000 |
| Number of properties in foreclosure pre-sale inventory: | 754,000 | 764,000 | 966,000 | 1,525,000 |
| Total Properties | 3,268,000 | 3,179,000 | 3,805,000 | 4,569,000 |
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