by Bill McBride on 7/11/2016
Black Knight Financial Services (BKFS) released their Mortgage Monitor report for May today. According to BKFS, 4.25% of mortgages were delinquent in May, down from 4.91% in May 2015. BKFS also reported that 1.13% of mortgages were in the foreclosure process, down from 1.59% a year ago.
This gives a total of 5.38% delinquent or in foreclosure.
Press Release: Black Knight’s Mortgage Monitor: Tappable Equity Rose by $260 Billion in Q1 2016, 425,000 Borrowers Out from Underwater on Mortgages
Today, the Data & Analytics division of Black Knight Financial Services, Inc. released its latest Mortgage Monitor Report, based on data as of the end of May 2016. This month, the Mortgage Monitor leveraged data from the Black Knight Home Price Index to revisit the U.S. equity landscape in light of 48 consecutive months of annual home price appreciation (HPA). As Black Knight Data & Analytics Executive Vice President Ben Graboske explained, the impact can be observed in terms of both levels of tappable equity available to borrowers as well as the continuing reduction in the number of borrowers who owe more than their homes are worth.
Read more at http://www.calculatedriskblog.com/2016/07/black-knight-425000-borrowers-out-from.html