Mortgage Delinquencies Show First Improvement Since January

Jul 22, 2020

Photo of a house foreclosure. Credit: iStock.com/Feverpitched

Director of Events

A recent report from Black Knight revealed that the national delinquency rate fell to 7.6% in June as the number of past-due mortgages decreased by 98,000. This is the first decline in five months following the significant jump from 3.2% in January to 7.8% in May 2020.

According to the report, serious delinquencies that are 90 days or more past due increased by over 1.2 million during the initial wave of COVID-19. This was due to the financial hardships that caused borrowers to miss their third mortgage payment. Black Knight reports that the 1.87 million mortgages that are seriously delinquent marks the highest level since early 2011.

Federal foreclosure moratoriums are aiding in the decline of active foreclosure inventory. According to the report, the 192,000 active foreclosures in June was the fewest on record, dating back to 2000.

Click here to read the full Black Knight report

About the author

Navi Persaud

Director of Events

Navi Persaud is Director of Events at NMP.

Link copied

Published

Jul 22, 2020

Analysis and Data

Every Dollar A Fraudster Makes, A Financial Firm Loses $4.41

U.S. investment firms and credit lenders see a 9% annual increase in the financial impact of fraud.

Overall fraud increased at least 6% for 63% of financial firms within the past year, with digital channels accounting for half of the overall fraud losses, according to LexisNexis True Cost of Fraud Study: Financial Services and Lending Report — US and Canada Edition. U....

Analysis and Data

Home Loan Applications See 2.7% Drop

The MBA's weekly mortgage applications survey shows decline in last week's application volume

Low inventory and high mortgage rates have taken their toll on prospective homebuyers, if the latest drop in new mortgage applications is any indication. The Mortgage Bankers Association’s (MBA) weekly mortgage applications survey showed a 2.7% decrease in mortgage applic...