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Delinquencies Down Nearly 10% in 2013

Delinquencies picked up slightly in December, according to early data released by Black Knight Financial Services (BKFS)—but overall trends indicate 2013 was a year of improvement.

As of month-end, BKFS puts the total U.S. loan delinquency rate at 6.47 percent, an increase of 0.26 percent from November. The figure includes loans that are 30 or more days overdue but not in foreclosure.

On an annual basis, however, delinquency was down 9.85 percent in 2013.

BKFS’ data also reveals that 3,243,000 properties were at least 30 days past due (but not in foreclosure) at the end of the year, while 1,280,000 were at least 90 days past due. A total of 4,488,000 properties were at least a month delinquent or in foreclosure.

The total U.S. foreclosure pre-sale inventory rate as of December 31 was 2.48 percent, according to the company—down 0.74 percent on a monthly basis and 27.90 percent yearly. The total number of properties in foreclosure pre-sale inventory was 1,244,000.

Mississippi, New Jersey, Florida, New York, and Louisiana topped the list of states with the highest number of overdue loans, while Montana, Colorado, Alaska, South Dakota, and North Dakota had the lowest percentage.

Tuesday’s release from BKFS represents a "first look" at its monthly Mortgage Monitor report, which is scheduled for release February 3. The data is derived from the company’s loan-level database, which represents about 70 percent of the market.


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