The rise was driven by early-stage delinquencies, while serious delinquencies (90 or more days past due) fell. The number of loans in active foreclosure continues to decline as well. At 443,000 (0.48% of the active mortgage universe), active foreclosure inventory has fallen to its lowest level since late 2005.
The uptick pushed up total non-current inventory (everything 30 or more days past due or in active foreclosure) by 40,000, but that inventory is down 211,000 from last year. On that front, Western states–Colorado, Oregon, Washington, Idaho, and California–continue to hold the nation’s lowest non-current rates.
Prepayment activity rose by 3% despite the typical seasonal slowdown in home sale-related prepays, as the refinance wave continued through September. Prepays are now up 121% from last year.
The data comes from Black Knight's loan-level database representing the majority of the national mortgage market.
The company will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by detailed charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available online by Nov. 4, 2019. For more information about gaining access to Black Knight’s loan-level database, please send an email to This email address is being protected from spambots. You need JavaScript enabled to view it..
