by Calculated Risk on 9/24/2018 12:21:00 PM

From Black Knight: Black Knight’s First Look: Strong Summer of Improvement for Mortgage Delinquencies; Industry Bracing for Impact from Hurricane Florence

• Mortgage delinquencies fell again in August and are now down 5.7 percent over the past two months

• This marks the strongest such decline during July-August on record, since before 2000

• Foreclosure starts also eased in August and are now more than 12 percent below last year’s level

• Delinquencies resulting from 2017’s hurricanes continue to decline – just 25,100 remain in the mainland U.S.

• Some 391,000 homeowners with mortgages were located in Hurricane Florence’s evacuation area, with an estimated 283,000 in the 18 North Carolina counties declared disaster areas so far by FEMA

According to Black Knight's First Look report for August, the percent of loans delinquent decreased 2.4% in August compared to July, and decreased 10.4% year-over-year.

The percent of loans in the foreclosure process decreased 4.4% in August and were down 28.2% 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 3.52% in August, down from 3.61% in July.

The percent of loans in the foreclosure process decreased in August to 0.54% (from 0.57% in July).

The number of delinquent properties, but not in foreclosure, is down 185,000 properties year-over-year, and the number of properties in the foreclosure process is down 105,000 properties year-over-year.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	Aug 2018	July 2018	Aug 2017	Aug 2016
Delinquent	3.52%	3.61%	3.93%	4.24%
In Foreclosure	0.54%	0.57%	0.76%	1.04%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	1,818,000	1,861,000	2,003,000	2,151,000
Number of properties in foreclosure pre-sale inventory:	280,000	293,000	385,000	527,000
Total Properties	2,099,000	2,154,000	2,388,000	2,678,000