REO discounts highest in the Northeast, Rust Belt regions

New York, Florida, Illinois all register high REO discounts
  • 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.

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.