Skip to main content

Nationwide Foreclosure Totals Continue to Plummet in February

Mar 25, 2014

The data & analytics division of Black Knight Financial Services (formerly the LPS Data & Analytics division) reports the following "first look" at February 2014 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market. The total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) stood at 5.97 percent, a month-over-month change of -4.87 percent and year-over-year change of -12.28 percent. ►Total U.S. foreclosure pre-sale inventory rate stood at 2.22 percent, a month-over-month change of -5.29 percent and year-over-year change of -34.16 percent. ►Total U.S. foreclosure starts hit 91,993 in February, a month-over-month change of -2.21 percent and year-over-year change of -30.22 percent. ►The Monthly Prepayment Rate (SMM) hit 0.66 percent in February, a month-over-month change of -10.57 percent and year-over-year change of -63.61 percent. ►The number of properties that are 30 or more days past due, but not in foreclosure dropped to 2,991,000, a month-over-month change of -149,000 and year-over-year change of -419,000. ►The number of properties that are 90 or more days past due, but not in foreclosure dropped to 1,242,000 nationwide, a month-over-month change of -47,000 and big year-over-year change of -241,000. ►In February, the number of properties that were 30 or more days past due or in foreclosure dropped to 4,106,000, a month-over-month change of -209,000 and year-over-year change of -998,000. The top five states by Non-Current Percentage include: ►Mississippi: 14.15 percent ►New Jersey:  13.63 percent ►Florida:  12.88 percent ►New York:  11.75 percent ►Louisiana:  11.27 percent The bottom five states by Non-Current Percentage include: ►Colorado: 4.21 percent ►Montana: 4.21 percent ►Alaska: 4.09 percent ►South Dakota: 3.68 percent ►North Dakota: 2.70 percent The top five states by 90-plus days Delinquent Percentage: ►Mississippi: 5.36 percent ►Nevada: 3.99 percent ►Rhode Island: 3.97 percent ►Alabama: 3.67 percent ►Louisiana: 3.55 percent The top five states by sixonth Improvement in Non-Current Percentage: ►Nevada:  -15.92 percent ►Florida: -14.72 percent ►Idaho:  -14.17 ►Illinois:  -12.01 percent ►Washington:  -12.00 percent The top five states by six-Month Deterioration in Non-Current Percentage: ►Vermont:  1.90 percent ►Massachusetts:  1.34 percent ►Wyoming:  0.91 percent ►New Hampshire:  -0.32 percent ►Louisiana:  -0.47 percent
About the author
Published
Mar 25, 2014
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024