Monday Morning Cup Of Coffee Foreclosures Down 500K From Last Year

Dated: March 24 2014

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Monday Morning Cup of Coffee takes a look at news crossing HousingWire's weekend desk, with more coverage to come on bigger issues.

Black Knight Financial Services' "First Look" at February 2014 dataBlack Knight, formerly Lender Processing Services, report on mortgage performance in February include the following highlights:
  1. The number of loans in foreclosure has dropped by more than 500K since last year (1.24M as of Feb.)
  2. There are now nearly 1 million fewer non-current mortgages since last February (4.1M as of Feb).
  3. The roughly 92K foreclosure starts in February marked a 30% year-over-year decline.
The monthly prepayment rate (historically a good indicator of refinance activity) declined almost 64% year-over-year. Mississippi, Nevada & Rhode Island have highest rates of seriously delinquent (90+ days) loans. Non-current rates in Vermont & Massachusetts have increased the most over the past 6 mos. (up 1.9% and 1.3%, respectively)

Black Knight will provide a more in-depth review of this data in its monthly Mortgage Monitor report. Read More Here...
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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