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Black Knight Notes Uptick in Early Delinquencies
Friday, October 23, 2015
Several measures of mortgage distress moved up in September
including the early delinquency rate according to Black Knight Financial
Services. The company's "first look" at
September foreclosure data shows the rate of loans that were 30 or more days
past due rose 1.7 percent compared to August.
The small blip would not be significant except that it was heavily
weighted toward new delinquencies.
Despite the increase in the delinquency rate to 4.87 percent,
it is still 13.94 percent lower than a year earlier. Still, while the number of properties that
are 90 days past due but not yet in the process of foreclosure dropped by 8,000
units compared to August the overall number of properties over 30 days past due
jumped by 44,000 meaning a net increase in mortgages 30 to 90 days delinquent
of 36,000 units.
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