by Calculated Risk on 7/24/2018 08:39:00 AM

From Black Knight: Black Knight’s First Look: June Sees Fewest Foreclosure Starts in Over 17 Years; Active Foreclosure Inventory Falls Below 300,000 for First Time Since Q3 2006

• Foreclosure starts fell another 3.1 percent in June for the lowest single-month total in more than 17 years

• Active foreclosures continued to decline as well, falling below 300,000 for the first time in nearly 12 years

• The inventory of loans in active foreclosure has fallen 30 percent (-119k) over the past 12 months

• Delinquencies edged seasonally upward in June, but remain 1.59 percent below last year’s levels

• After rising following the 2017 hurricane season, 90-day delinquencies hit a new post-recession low

According to Black Knight's First Look report for June, the percent of loans delinquent increased 2.7% in June compared to May, and decreased 1.6% year-over-year.

The percent of loans in the foreclosure process decreased 4.5% in June and were down 30.0% 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 3.74% in June, up from 3.64% in May.

The percent of loans in the foreclosure process decreased in June to 0.56%.

The number of delinquent properties, but not in foreclosure, is down 7,000 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
	June 2018	May 2018	June 2017	June 2016
Delinquent	3.74%	3.64%	3.80%	4.31%
In Foreclosure	0.56%	0.59%	0.81%	1.10%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	1,925,000	1,867,000	1,932,000	2,178,000
Number of properties in foreclosure pre-sale inventory:	291,000	303,000	410,000	558,000
Total Properties	2,216,000	2,171,000	2,342,000	2,736,000