Home / Media / DS News Webcast: Wednesday 2/25/2015
Print This Post Print This Post

DS News Webcast: Wednesday 2/25/2015

Foreclosure inventory was way down nationwide year-over-year in January despite a 5.5 percent month-over-month increase in foreclosure starts, according to Black Knight Financial Services' First Look at January Mortgage Data. Foreclosure starts totaled nearly 94,000 for January, which was the highest number since December 2013. Foreclosure inventory took a huge drop year-over-year in January, falling by 31.4 percent. The total percentage of residential mortgage loans in some state of foreclosure was 1.61 percent.

The total delinquency rate was reported at 5.56 percent for January – a decline of 1.4 percent from December and 11.3 percent from the same month a year earlier. The total number of delinquent mortgage loans in the country for January was 2.8 million, a decline of 55,000 from December and 327,000 from January 2014. The number of properties that were 90 days or more past due but not in foreclosure in January was 1.12 million, down by 20,000 month-over-month and 177,000 year-over-year.

The delinquency rate on residential mortgage loans backed by Fannie Mae declined across the board in 2014 due to a number of reasons that include foreclosure alternatives, home retention solutions, completed foreclosures, improved loan payment performance, and acquisitions of loans with stronger credit profiles, according to Fannie Mae's recently released annual report. On loans that were seriously delinquent, the percentage has been steadily falling – from 3.29 percent in 2012 down to 2.38 percent in 2013 to 1.89 percent as of December 31, 2014.

About Author: dsnews

x

Check Also

hurricane vortex

A Climate-Related Foreclosure Crisis?

The threat of a potential foreclosure crisis looms large over the nation’s mortgage industry. In this video spotlight, experts share their insights on the far-reaching impact of extreme weather conditions and the corrective measures to be taken to mitigate the effects of these cataclysmic events on the housing market.

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.