90 Day Delinquencies Edge up as Crisis Hits Three Month Mark

Posted To: MND NewsWire

While serious delinquencies felt the first impact from the COVID-19 pandemic in June, overall delinquencies were actually lower. Black Knight’s “first look” at loan performance during the month shows the national delinquency rate, which rose more than 4 percentage points in May to 7.8 percent, edged down to 7.6 percent last month. The 89,000-loan decline (2.3 percent) was the first improvement in five months. The 4.03 million mortgages that were 30 or more days past due but not in foreclosure still represented a 103.6 percent increase from a year earlier. Black Knight includes loans in forbearance plans in their delinquency numbers. As the initial wave of borrowers financially impacted by the crisis missed their third mortgage payment, serious delinquencies, loans 90 or more days in arrears…(read more)

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