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A Slow Decline: First Look at June Foreclosures

low income households

[1]Black Knight, Inc. [1], a provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle, released their First Look for June 2018, with insights on foreclosures, loan inventory, and more.

According to the report, June saw the fewest number of foreclosure starts in more than 17 years at 43,500, with many indicating a lingering yet shrinking after effect from the crisis. With a 119, 000 foreclosure loan reduction—a 30 percent decrease from last June—the total loan inventory rested below 300,000 for the first time since Q3 2006.

Even with delinquencies experiencing a seasonal increase, they remained nearly 2 percent below last year’s level. In addition, serious delinquencies, or anything 90 or more days past due but not yet in foreclosure, it a new post-recession low in June, following the rise in the 2017 hurricane season.

The following quick stats were also outlined in the report:

Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state. Totals are extrapolated based on Black Knight’s loan-level database of mortgage assets, and all whole numbers are rounded to the nearest thousand, except foreclosure starts, which are rounded to the nearest hundred.

According to the report, the company will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by detailed charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available online by August 6.