by Calculated Risk on 8/24/2017 04:20:00 PM

CR Note: The month-to-month increase in delinquencies is mostly seasonal (happens every July).

From Black Knight: Black Knight Financial Services’ First Look at July 2017 Mortgage Data

• Foreclosure inventory fell by 12,000 in July, bringing the total below 400,000 for the first time since February 2007

• Active foreclosure inventory has declined by 28 percent (more than 150,000) over the past 12 months

• July’s 53,300 foreclosure starts mark the second lowest (next to April 2017) monthly volume since the start of 2005

• Early-stage mortgage delinquencies experienced a slight seasonal uptick in July

According to Black Knight's First Look report for July, the percent of loans delinquent increased 2.8% in July compared to June, and declined 13.5% year-over-year.

The percent of loans in the foreclosure process declined 3.0% in July and were down 28.0% over the last year.

Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 3.90% in July, up from 3.80% in June.

The percent of loans in the foreclosure process declined in July to 0.78%.

The number of delinquent properties, but not in foreclosure, is down 300,000 properties year-over-year, and the number of properties in the foreclosure process is down 152,000 properties year-over-year.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	July 2017	June 2017	July 2016	July 2015
Delinquent	3.90%	3.80%	4.51%	4.71%
In Foreclosure	0.78%	0.82%	1.09%	1.40%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	1,986,000	1,932,000	2,286,000	2,389,000
Number of properties in foreclosure pre-sale inventory:	398,000	410,000	550,000	711,000
Total Properties	2,384,000	2,342,000	2,836,000	3,100,000