Mortgage Performance Continues to Improve; Prepayment Numbers Rise

Posted To: MND NewsWire

It was a year of significant improvement in the distressed home arena. According to Black Knight Financial Services there was a 22 percent decrease in the national Foreclosure Inventory while the number of delinquent mortgages declined by nearly 15 percent. The number of mortgages that were 30 or more days past due but not in foreclosure declined to 4.8 percent of all active mortgages, a 14.98 percent improvement for the year and 3 percent from November to December. At year's end 2.41 million mortgages remained delinquent, 425,000 fewer than at the end of 2014. Of those, 808,000 mortgages were seriously delinquent - that is 90 or more days past due but not in foreclosure - at year's end. This is 19,000 fewer than in November and 280,000 less than a year earlier. The decline reverses increases...(read more)

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from Mortgage News Daily http://ift.tt/1PKeNFH