by Calculated Risk on 3/24/2014 09:45:00 AM

According to Black Knight (formerly LPS) First Look report for February, the percent of loans delinquent decreased in February compared to January, and declined by more than 12% year-over-year.

Also the percent of loans in the foreclosure process declined further in January and were down 34% over the last year.

Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) decreased to 5.97% from 6.27% in January. The normal rate for delinquencies is around 4.5% to 5%.

The percent of loans in the foreclosure process declined to 2.22% in February from 2.48% in January.  

The number of delinquent properties, but not in foreclosure, is down 419,000 properties year-over-year, and the number of properties in the foreclosure process is down 579,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for February in early April.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	February 2014	January 2014	February 2013
Delinquent	5.97%	6.27%	6.80%
In Foreclosure	2.22%	2.35%	3.38%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:	1,749,000	1,851,000	1,927,000
Number of properties that are 90 or more days delinquent, but not in foreclosure:	1,242,000	1,289,000	1,483,000
Number of properties in foreclosure pre-sale inventory:	1,115,000	1,175,000	1,694,000
Total Properties	4,106,000	4,315,000	5,104,000