by Calculated Risk on 3/23/2016 12:01:00 AM

From Black Knight: Black Knight Financial Services’ First Look at February Mortgage Data: Delinquencies Fully Recover from January Spike, Hit Lowest Level Since April 2007

• Delinquency rate down 13 percent month-over-month; down nearly 16 percent year-over-year

• Total non-current inventory falls below 3 million for the first time in over eight years

According to Black Knight's First Look report for February, the percent of loans delinquent decreased 12.6% in February compared to January, and declined 15.9% year-over-year.

The percent of loans in the foreclosure process declined 0.6% in February and were down 24.6% 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 4.45% in February, down from 5.09% in January.  This is the lowest delinquency rate since April 2007.

The percent of loans in the foreclosure process declined slightly in February to 1.30%.

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 211,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for February on April 4th.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	Feb 2016	Jan 2016	Feb 2015	Feb 2014
Delinquent	4.45%	5.09%	5.30%	5.94%
In Foreclosure	1.30%	1.30%	1.72%	2.30%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	2,252,000	2,575,000	2,671,000	2,994,000
Number of properties in foreclosure pre-sale inventory:	655,000	659,000	866,000	1,156,000
Total Properties	2,907,000	3,234,000	3,537,000	4,150,000