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Mortgage prepayment rates also fell to a new low for the third consecutive month in December, according to Black Knight.
January 25 -
Foreclosure starts also increased by over 19% between October and November but remain below pre-pandemic levels.
December 22 -
The relatively low share of borrowers who were distressed in June adds to signs that the offramp from government relief measures may not lead to an overwhelming wave of foreclosures.
July 22 -
For the first time since the pandemic began, the share of borrowers who are 30 days or more late on their payment is below 5%, Black Knight found.
May 20 -
Numbers fell across the board, with private-label and portfolio loans declining most.
May 14 -
The total number of loans in this category dropped 11 basis points from week to week according to the Mortgage Bankers Association. Meanwhile, the amount of unpaid balance in forbearance dropped almost 23% since the start of the year, a separate report from Black Knight found.
May 10 -
The persistently slow reduction in the number of borrowers at risk of default indicates that while loan performance overall is improving, a substantial pool of mortgages will need workouts when forbearance ends.
April 22 -
But the percentage of weekly applications in that category was closer to 60%, the Mortgage Bankers Association found.
April 14 -
However, the decline in Black Knight’s numbers may stem from a previous deadline that policymakers have since extended.
April 9 -
Black Knight’s product is designed to assist mortgage lenders in performing due diligence while also preventing heightened risk of foreclosure losses.
January 26