Nationwide Foreclosure Totals Continue to Plummet in February – NMP Skip to main content

Nationwide Foreclosure Totals Continue to Plummet in February

NationalMortgageProfessional.com
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
Published
Mar 25, 2014
OpenClose Launches Mobile Assist

OpenClose, a fintech provider of mortgage software solutions for banks, credit unions, and mortgage lenders launched its native mobile app platform, Mobile Assist.

Tech
Dec 07, 2021
Deephaven Heightens Foreign National DSCR Program

Deephaven is amping up its Foreign National DSCR Program as a response to the increase in the real estate investment market.

Non-QM
Dec 07, 2021
Revolution Mortgage Opens Second Mortgage Branch In Cincinnati

Columbus, OH-based Revolution Mortgage announced the opening of its second branch in Cincinnati and 14th branch in Ohio.

Industry News
Dec 06, 2021
Nations Lending Teams Up With NBA Legend Dennis Rodman On Integrated Brand Campaign

Nations Lending, a full-service national mortgage lender, announced the launch of its first integrated brand campaign starring NBA Champion and All-Star Dennis Rodman.

Sales and Marketing
Dec 06, 2021
Black Couple 'Erased Themselves' From Home, Receives Higher Appraisal

Paul Austin and his wife, Tenisha Tate-Austin are looking to take legal action after receiving a higher appraisal on their home only after “white-washing” their home by removing any trace of themselves.

Industry News
Dec 06, 2021
Manufactured Housing: The New Affordable Alternative

While the housing market is grappling with widespread affordability and supply, manufactured homes are gaining ground as a new alternative. 

Industry News
Dec 03, 2021