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Black Knight’s First Look at July: Foreclosure Inventory at Lowest Level Since 2007

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From Black Knight: Black Knight Financial Services’ First Look at July Mortgage Data: Foreclosure Inventory Down 24 Percent Year-Over-Year; Lowest Level Since 2007

According to Black Knight’s First Look report for July, the percent of loans delinquent decreased 2% in July compared to June, and declined 16.5% year-over-year.

The percent of loans in the foreclosure process declined 4% in July and were down 24% 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 4.71% in July, down from 4.82% in June.

The percent of loans in the foreclosure process declined in July to 1.40%.  This was the lowest level of foreclosure inventory since 2007.

The number of delinquent properties, but not in foreclosure, is down 460,000 properties year-over-year, and the number of properties in the foreclosure process is down 224,000 properties year-over-year.

Black Knight will release the complete mortgage monitor for July in early September.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
  July
2015
June
2015
July
2014
July
2013
Delinquent 4.71% 4.82% 5.64% 6.41%
In Foreclosure 1.40% 1.46% 1.85% 2.82%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure: 1,503,000 1,549,000 1,713000 1,846,000
Number of properties that are 90 or more days delinquent, but not in foreclosure: 886,000 895,000 1,136,000 1,347,000
Number of properties in foreclosure pre-sale inventory: 711,000 739,000 935,000 1,406,000
Total Properties 3,100,000 3,183,000 3,785,000 4,599,000


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