Mortgage delinquencies edged up slightly in December, compared to November; however, foreclosure inventory was down nearly 30% for all of 2013, and the overall trend is still one of improvement, according to the ‘First Look’ Mortgage Report from Black Knight Financial Services (formerly Lender Processing Services).
The foreclosure and seriously delinquent inventories in December reached the lowest since 2008, according to the report.
The total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) for December was 6.47% – a slight increase of 0.26% compared to November but down 9.85% compared to December 2012.
The total U.S. foreclosure pre-sale inventory rate for December was 2.48% – a dip of 0.74% compared to November but down a dramatic 27.90% compared to December 2012.
A total of about 3,243,000 properties were 30 or more days past due, but not in foreclosure, in December, while the number of properties 90 or more days delinquent, but not in foreclosure, was about 1,280,000.
About 1,244,000 properties were in foreclosure pre-sale inventory in December.
About 4,488,000 properties were either 30 or more days delinquent or in foreclosure.
States with highest percentage of non-current loans included Mississippi, New Jersey, Florida, New York and California.
States with the lowest percentage of non-current loans included Montana, Colorado, Arkansas, South Dakota and North Dakota.
The report finds that foreclosure starts were down 23% for the year.
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