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Delinquency Rate Lowest in COVID Era; but Lingering Risks Remain

Posted To: MND NewsWire

Loan performance continued to improve in January although the number of delinquencies remains significantly elevated from pre-pandemic levels. Black Knight’s first look at the month’s loan performance data has both good news and some that is disquieting. The good news is a 121,000-loan decline in the number of loans that are 30 or more days past due but not in foreclosure when compared to the prior month. This reduced the national delinquency rate to 5.85 percent, the first time the rate has been under 6 percent since the pandemic hit in March 2020. The number of seriously delinquent loans, those 90 or more days past due but not in foreclosure, was reduced by 56,000 loans. Black Knight includes loans that are in active forbearance plans in its delinquency numbers if they are non-current. However…(read more)

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