Delinquency Increase is Seasonal- Black Knight

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Posted To: MND NewsWire

Mortgage delinquencies rose slightly in July; a change Black Knight Financial Services sees as seasonal. The number of mortgages that were 30 or more days past due but not in foreclosure rose by 108,000 from June, pushing the delinquency rate up by 4.78 percent to 4.51 percent. Black Knight, in its “first look” at the month’s mortgage performance statistics, says months that end on a Sunday, as July did, usually see an increase in non-performance followed by a decline the following month. On a year-over year basis the rate is down by 3.38 percent and there are 70,000 fewer loans in delinquent status although the total of loans that are 30 days past due but not in foreclosure remains at an elevated level of 2.29 million. Seriously delinquent loans , 90 or more days past due but not yet in foreclosure…(read more)

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