90-day Delinquencies Increasingly Ended in Foreclosure Last Month

Black Knight Financial Services has released a “first look”</bat its month-end January mortgage performance statistics.  The company regularly previews data that isrncovered in a more comprehensive form in its MortgagernMonitor scheduled for publication on March 9.</p

The foreclosure inventory, properties in some state ofrnforeclosure, continues to decline and is down 360,000 units or 31 percentrnyear-over-year.  The inventory totaled<b815,000 properties in January compared to 820,000 in December and representedrn1.61 percent of all mortgaged properties in the country</p

Foreclosure sales calculated as a percentage of 90+ dayrndelinquencies rose almost 19 percent month-over-month to 1.86 percent but thisrnwas still 13 percent below the rate in January 2014.</p

Distressed mortgages, including delinquencies and propertiesrnin foreclosure, numbered 3.63 million in January, down 60,000 from December andrn687,000 from a year earlier.</p

Black Knight also noted that the prepayment rate (SMM) forrnmortgages, generally closely tied to the rate of refinancing, was down 23rnpercent from December to 0.88 percent. rnThe SMM was, however, 19 percent higher than in January 2014.

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