The
federal foreclosure moratoria expired at the end of July and, with some 1.45
million borrowers seriously delinquent
on their mortgages but not in
foreclosure, Black Knight says, “potential foreclosure activity in the coming
months warrants close observation.” The majority of those seriously delinquent
mortgages, however, are still in active forbearance plans.

The
company, in its “first look” at July’s mortgage performance data, notes that,
aside from this concern, overall mortgage delinquencies are down by nearly half
since May 2020 and have improved in 12 of the last 14 months.

The
national delinquency rate declined by 114,000 loans or 5.22 percent in July and
is now at 4.14 percent of all mortgage loans. A total of 2.206 million loans
are 30 or more days past due, down by 1.486 million year-over-year.

…(read more)

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