by Calculated Risk on 1/28/2014 07:01:00 AM

According to the Black Knight (formerly LPS) First Look report for December, the percent of loans delinquent increased seasonally in December compared to November, and declined about 9.9% year-over-year.

Also the percent of loans in the foreclosure process declined further in December and were down 28% over the last year.

Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) increased to 6.47% from 6.45% in November. The normal rate for delinquencies is around 4.5% to 5%.

The percent of loans in the foreclosure process declined to 2.48% in December from 2.50% in November.   The is the lowest level since late 2008.

The number of delinquent properties, but not in foreclosure, is down 332,000 properties year-over-year, and the number of properties in the foreclosure process is down 472,000 properties year-over-year.

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

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	December 2013	November 2013	December 2012
Delinquent	6.47%	6.45%	7.17%
In Foreclosure	2.48%	2.50%	3.44%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:	1,964,000	1,958,000	2,031,000
Number of properties that are 90 or more days delinquent, but not in foreclosure:	1,280,000	1,283,000	1,545,000
Number of properties in foreclosure pre-sale inventory:	1,244,000	1,256,000	1,716,000
Total Properties	4,488,000	4,497,000	5,292,000