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Serious Delinquency Rate Improves for First Time Since March

This past September is the first month—since COVID-19 first began effecting the economy—to record a drop in the serious-delinquency (90+ days past due) rate, Black Knight reported Thursday [1].

"The number of seriously delinquent mortgages (90+ days) fell by 43,000 in September, marking the first such improvement in serious delinquencies since the start of the pandemic," according to the report, which further broke down the data:

Regionally, the percentage of "non current" (that is, combined foreclosures and delinquencies as a percent of active loans in that state) delinquent loans is seen most in these states—Mississippi: 11.54%; Louisiana: 11.15%; Hawaii: 9.15%; New York: 8.92%; and Texas: 8.76%.

And least in Montana: 4.55%; Oregon: 4.54%, Colorado: 4.41%; Washington: 4.25%; Idaho: 3.68%.

For serious delinquencies, these states are feeling the greatest impact—Mississippi: 6.78%; Louisiana: 6.41%; Alaska: 6.16%; Nevada: 6.08%; Hawaii: 5.93%.

Visit Black Knight for more data and analysis via the company's First Look at September 2020 Mortgage Data. [1]