by Calculated Risk on 2/27/2014 09:31:00 AM

According to Black Knight (formerly LPS) First Look report for January, the percent of loans delinquent decreased in January compared to November, and declined by more than 10% year-over-year.

Also the percent of loans in the foreclosure process declined further in January and were down 31% 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 6.27% from 6.47% in December. The normal rate for delinquencies is around 4.5% to 5%.

The percent of loans in the foreclosure process declined to 2.35% in January from 2.48% in December.   The is the lowest level since late 2008.

The number of delinquent properties, but not in foreclosure, is down 365,000 properties year-over-year, and the number of properties in the foreclosure process is down 528,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for January in early March.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	January 2014	December 2013	January 2013
Delinquent	6.27%	6.47%	7.03%
In Foreclosure	2.35%	2.48%	3.41%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:	1,851,000	1,964,000	1,974,000
Number of properties that are 90 or more days delinquent, but not in foreclosure:	1,289,000	1,280,000	1,531,000
Number of properties in foreclosure pre-sale inventory:	1,175,000	1,244,000	1,703,000
Total Properties	4,315,000	4,488,000	5,208,000