Posted To: MND NewsWire

Tighter underwriting and a strong economy seemingly continue to be reflected in mortgage loan performance. In its “first look” at January loan data, Black Knight says the national delinquency rate hit the lowest level since they began tracking it in 2000. The rate, 3.22 percent, represents a 5.4 percent decline from December and 14.2 percent year-over-year. The company says the annual figure shows that the rate of improvement in delinquencies has been picking up speed in recent months and this was the largest drop in more than a year. That percentage change translates to a 98,000 decline in a single month in the number of loans that are 30 or more days past due but not in foreclosure. The annual decrease of nearly a quarter million (240,000) loans results in a current population of 1,705,000…(read more)

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Source: Mortgage News Daily