by Calculated Risk on 5/23/2018 02:38:00 PM

From Black Knight: Black Knight’s First Look: Mortgage Delinquencies Buck Upward Seasonal Trend in April, Fall to Second Lowest Point in 12 Years

• Historically, mortgage delinquencies have risen 85 percent of the time in April; this month they declined 1.6 percent – about equal to the size of their average usual increase

• April’s improvement halted a seven-month trend of annual increases in the national delinquency rate

• Areas impacted by Hurricanes Harvey and Irma led April’s delinquency improvement, but slight declines were seen in non-affected areas as well

• Over 90,000 seriously delinquent mortgages (90 or more days past due) attributed to the 2017 hurricane season remain in affected areas of Texas, Florida and Georgia

• The number of mortgages in active foreclosure hit its lowest point since August 2006

According to Black Knight's First Look report for April, the percent of loans delinquent decreased 1.6% in April compared to March, and decreased 10.2% year-over-year.

The percent of loans in the foreclosure process decreased 2.3% in April and were down 28.4% 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 3.67% in April, down from 3.73% in March.

The percent of loans in the foreclosure process decreased in April to 0.61%.

The number of delinquent properties, but not in foreclosure, is down 187,000 properties year-over-year, and the number of properties in the foreclosure process is down 119,000 properties year-over-year.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	Apr 2018	Mar 2018	Apr 2017	Apr 2016
Delinquent	3.67%	3.73%	4.08%	4.24%
In Foreclosure	0.61%	0.63%	0.85%	1.17%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	1,885,000	1,912,000	2,072,000	2,146,000
Number of properties in foreclosure pre-sale inventory:	314,000	321,000	433,000	820,000
Total Properties	2,199,000	2,232,000	2,505,000	2,741,000