Black Knight: Mortgage Performance Continued to Basically Hold Steady in September


The number of past-due mortgages continued to hold relatively steady across the board in September.

The U.S. mortgage delinquency rate dropped to 2.78% of all loans in in September – down 0.18% compared with August and down 28% compared with September 2021, according to Black Knight’s most recent First Look report.

About 1.491 million residential properties were 30 days more more past due, as of the end of the month, a slight increase of about 2,000 properties compared with August but down about 577,000 properties compared with September 2021.

The number of borrowers who missed a single payment rose by 1%.

The number of properties 90 days or more past due stood at about 558,000, down about 9,000 compared with the previous month and down about 675,000 compared with a year earlier.

The foreclosure presale inventory rate was 0.35% – basically flat compared with the previous month but up 35% compared with a year ago.

As of the end of the mont there were about 185,000 properties in the foreclosure presale inventory pipeline – up by about 50,000 from a year ago.

There were about 18,400 foreclosure starts in September, a decrease of about 9% compared with August but up more than 371% compared with September 2021.

The monthly prepayment rate was 0.57%, down nearly 15% compared with August and down 73% compared with September 2021.

It was the lowest prepayment level since November 2000.

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