Black Knight’s Mortgage Monitor is a monthly analysis that overviews delinquencies, foreclosures, prepayments, home equity line of credit (HELOCs), mortgage originations and REO discounts. From a national perspective, the mortgage delinquency rate jumped almost 5 percent between June and July, Black Knight says, which is likely due to the fact that the month ended on a Sunday -- impacting payment processing for the final two calendar days of the month. Annually, delinquencies are down 3.38 percent. Foreclosure starts dropped 12 percent month-over-month in July. The monthly total of 61,300 was the lowest number of starts per month Black Knight has seen in over a decade. It was also the lowest month for first-time foreclosure starts since 2000. Although the volume of refinancing candidates increased because of near-record low interest rates, prepayment rates dropped 12 percent during the month. Active foreclosures continued to drop, falling 20 percent in the first half o...
- July’s 550,000 active foreclosures was the lowest volume posted since July 2007.
- Annually, national delinquencies are down 3.38 percent.
- In New York, a judicial foreclosure state, delinquencies reached 4.8 percent while foreclosures hit 3.2 percent of mortgage holders.
- Texas’ delinquency rate was 5.6 percent.