2016 Saw Mortgage Distress Recede Strongly

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Posted To: MND NewsWire

The only loan performance metric reported by Black Knight Financial Service’s December and thus year-end “first look” that rose in 2016 was the prepayment rate . That stat, despite the rapid increase in interest rates over the previous two months, was still 19.08 percent higher than a year earlier although it fell 5.50 percent compared to November. The prepayment rate at the end of the reporting period was 1.36 percent. The remainder of Black Knight’s reporting were all on measures of housing market distress and those shrunk gratifyingly over the course of the year. The foreclosure inventory rate was down by 30.53 percent compared to the previous December, an improvement Black Knight calls the most in any year on record. The number of loans in active foreclosure declined by more than 206,000…(read more)

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