January Foreclosure Starts Fall to Survey Lows

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Posted To: MND NewsWire

Loan performance overall continues to validate the perceived quality of recent loan vintages and delinquency metrics continue to test and break old records. Foreclosure starts were down 20 percent in January 2020 compared to a year earlier, just one of the further improvements noted in Black Knight’s “first look” at January/February data. Starts numbered 32,300, which was 24.5 percent lower than in December. It was the lowest level of foreclosure starts since Black Knight began reporting it exactly 20 years earlier. The company notes that these numbers were gathered preceding any effects from the onset of the COVID-19 pandemic. The March data should shed more light on any economic impacts on housing. The number of loans with mortgages that were 30 days or more past due but not in foreclosure…(read more)

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