Foreclosures Begin, Completions Significantly Increase YoY

black knight companyhas released its latest version, Hatsumi. Mortgage Monitor Report Explore delinquency and foreclosure rates across the United States for April 2022.

According to Black Knight, the national delinquency rate fell to 2.80% in April, down 4 basis points from 2.84% in March and hitting a record low for the second straight month. The decline typically occurred in the worst month of the year for mortgage performance. Overall, delinquency rates are down nearly 40% year-over-year for him.

The number of borrowers with one delinquent payment increased by 7.9% month-on-month, but this was offset by a significant improvement in borrowers with three or more delinquent payments, and volume decreased by 8% month-on-month Did.

Serious delinquency rates have decreased by 6-12% monthly over the past 14 months, but volumes are still more than 55% above pre-pandemic levels.

Prepaid also succumbed to a sharp rise in interest rates, down 19.1% from March and 61.8% from a year ago.

Notable statistics from the report include:

Total U.S. loan delinquencies (loans that are 30 days or more past due but not in foreclosure): 2.80%

  • Month-to-month change: -1.31%
  • year-on-year: -39.93%

Total Inventory Rate Before U.S. Foreclosure: 0.32%

  • Month-to-month basis: 2.31%
  • year-on-year: 13.48%

U.S. General Foreclosure Begins: 21,400

  • Month-to-month basis: -11.93%
  • year-on-year: 478.38%

Monthly Prepayment Rate (SMM): 0.99%

  • Month-to-month basis: -19.10%
  • year-on-year: -61.80%

Foreclosure sales as 90+ %: 0.46%

  • Month-to-month basis: 8.58%
  • year-on-year: 228.58%

Number of properties that are 30 days or more past due but not foreclosed: 1,496,000

  • Month-to-month basis: -17.000
  • year-on-year: -1,004,000

Number of properties that are 90 days or more past due but not foreclosed: 640,000

  • Month-to-month basis: -54,000
  • year-on-year: -1,128,000

Number of properties in stock before foreclosure: 173,000

  • Month-to-month basis: 4,000
  • year-on-year: 20,000

Number of properties over 30 days overdue or under foreclosure: 1,669,000

  • Month-to-month basis: -13,000
  • year-on-year: 984,000

Editor’s Note: This data is “first look” and is subject to change. According to Black Knight, the full findings of the April data he plans to release in early June.

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