A Slow Decline: First Look at June Foreclosures

first_img Related Articles The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / A Slow Decline: First Look at June Foreclosures 2018-07-24 Kristina Brewer About Author: Kristina Brewer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Kristina Brewer is the Editorial Assistant of Publications for the Five Star Institute, including DS News and MReport magazine. She is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans. in Daily Dose, Featured, Headlines, Journal, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Subscribe A Slow Decline: First Look at June Foreclosures Servicers Navigate the Post-Pandemic World 2 days ago Previous: Underinsured and Underwater: Preparing for Disaster Next: Erin Enderle Hired as Attorney at Gerner Kearns July 24, 2018 2,090 Views Sign up for DS News Daily Black Knight, Inc., a provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle, released their First Look for June 2018, with insights on foreclosures, loan inventory, and more.According to the report, June saw the fewest number of foreclosure starts in more than 17 years at 43,500, with many indicating a lingering yet shrinking after effect from the crisis. With a 119, 000 foreclosure loan reduction—a 30 percent decrease from last June—the total loan inventory rested below 300,000 for the first time since Q3 2006.Even with delinquencies experiencing a seasonal increase, they remained nearly 2 percent below last year’s level. In addition, serious delinquencies, or anything 90 or more days past due but not yet in foreclosure, it a new post-recession low in June, following the rise in the 2017 hurricane season.The following quick stats were also outlined in the report:Foreclosure starts fell another 3.1 percent in June for the lowest single-month total in more than 17 yearsActive foreclosures continued to decline as well, falling below 300,000 for the first time in nearly 12 yearsThe inventory of loans in active foreclosure has fallen 30 percent (-119k) over the past 12 monthsDelinquencies edged seasonally upward in June, but remain 1.59 percent below last year’s levelsAfter rising following the 2017 hurricane season, 90-day delinquencies hit a new post-recession lowPrepayment activity was up again in June, as home sales reached their typical early-summer peakNon-current totals combine foreclosures and delinquencies as a percent of active loans in that state. Totals are extrapolated based on Black Knight’s loan-level database of mortgage assets, and all whole numbers are rounded to the nearest thousand, except foreclosure starts, which are rounded to the nearest hundred.According to the report, 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 August 6.last_img read more