Mortgage delinquencies and foreclosures increased last month, according to a first look at mortgage market data recently released by the Data & Analytics division of Black Knight Financial Inc., a Fidelity National Financial company.

Mortgage delinquencies and foreclosures increased last month, according to a first look at mortgage market data recently released by the Data & Analytics division of Black Knight Financial Inc., a Fidelity National Financial company.

The rate of delinquencies, or loans that are 30 or more days past due but not in foreclosure, was 4.96 percent in May, up 4 percent from April’s rate.

However, in comparison to the same period last year, delinquencies are down 12 percent, Black Knight said.

black-knight-1

Noncurrent inventory was up 89,000 in May for a total of 3.3 million, but down 537,000 loans from one year ago, Black Knight said.

Florida continues to struggle, once again leading the nation with a 22 percent, six-month reduction in noncurrent inventory. Other struggling states are Idaho, Michigan, Minnesota and Illinois.

Total foreclosure starts were at 81,900, or a nearly 12 percent increase since April. Seriously delinquent states include Mississippi, Rhode Island, Louisiana, Alabama and Arkansas.

black-knight-2

The statistics used for the report are derived from Black Knight’s loan-level database that represents about two-thirds of the overall mortgage market.

Black Knight said it will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which will be available July 6.

Email Amy Swinderman.


Inman Connect San Francisco is right around the corner — register now and save $200!

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×