Mortgage prepayments rise and delinquencies fall in April, Black Knight says; Gateway First Bank appoints head of community reinvestment, fair lending; New York Court approves representation for mortgage borrowers in Ditech bankruptcy; Plaza Home Mortgage rolls out new high-balance mortgage program
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Black Knight: Foreclosure Starts Jumped in March as Storm. – The total U.S. mortgage delinquency rate fell to 3.73% in March – down 13.24% compared with February but up 3.09% compared with March 2017, according to Black Knight’s First Look report. Most of the month-over-month decrease can be attributed to homeowners in Texas, Florida and Puerto Rico getting "back on track" with their mortgage payments [.]
The March delinquency rate dropped 12% month-over-month, the largest monthly decline in nine years, but at the same time foreclosure starts skyrocketed 18% in March, according to the Black Knight.
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Mortgage prepayment speeds fell to a 19-year trough despite recent interest rate declines, but could rise if those lower rates lead to an increase in home purchases, according to Black Knight. Mortgage rates Elina Tarkazikis February 25
Meanwhile, Black Knight. % in April compared to March and will increase 4.7% by March 2016. The homes-for-sale inventory continues to be limited while buyer demand has picked up with low mortgage.
Black Knight looks at the possible impact of the storm in its current issue of Mortgage. the VA delinquency rate rose by 5.8 percent, which was a 40 percent greater increase than was the case with.
Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state. Notes: 1) Totals are extrapolated based on Black Knight’s loan-level database of mortgage assets..
The U.S. mortgage delinquency. in April, an increase of 4.28% compared with March but down 16.02% compared wth April 2018..
A recent paper has found that mortgage. report says. Not included in that group, but from the same analysis: lower credit score borrowers (under 620) are prepaying (refinancing) at the lowest rate.
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Black Knight arrived at these findings after analyzing data from its new Resolution Module, an expansion of its McDash loan-level mortgage. prepayments on the 2014 vintage were up nearly 38%..
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