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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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