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First Look at the Mortgage Performance Stats

first_img  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Foreclosure, News Sign up for DS News Daily Related Articles Tagged with: Black Knight Financial Services First Look Foreclosure Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: The Week Ahead: Will Home Price Appreciation Fall Further? Next: B2R Finance Welcomes New Senior Vice President Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. center_img The Best Markets For Residential Property Investors 2 days ago August 21, 2016 1,019 Views Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / First Look at the Mortgage Performance Stats The Data & Analytics division of Black Knight Financial Services, Inc. recently released the “first look” at July 2016 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.According to the report, it was noted that by the end of June, despite the ‘Brexit’ vote as well as mortgage rates hovering near all-time lows and the population of refinanceable borrowers swelling to 8.7 million, Black Knight determined that prepayment speeds, which are usually a historically good indicator of refinance activity, fell by 12 percent in July.The report states that the national delinquency rate jumped close to 5 percent from June. This rate rose above 4.5 percent for the first time since February.Black Knight notes though that with July ending on a Sunday, and in such cases, any payments made on the last two days of the month can’t be processed until the following month, which typically leads to a spike in the delinquency rate.The report says that with this being the case, it’s very likely that there will be an August decline seen as it’s also typical to see a partial, though not usually full, recovery the following month.Additionally, the July foreclosure starts were reported to be 61,300 which is a 12 percent decline from last month and was the second lowest monthly total in 10 years.Likewise, the report shows that the inventory of loans in active foreclosure continued its long-term downward trend. It fell 20 percent year to date to 550,000 active foreclosures. This number hit its lowest point since July 2007.Black Knight also reports that non-current rates continue to climb from six months ago in North Dakota, Alaska and Wyoming. This due to the impact on mortgage performance from sustained pressure on the oil and gas sector.Finally, it was reported that prepayment activity fell in July despite overall growth in the number of refinance candidates and 30-year interest rates remaining at or below 3.45 percent for much of the month.Black Knight will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by detailed charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available online by September 6, 2016. The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save First Look at the Mortgage Performance Stats Black Knight Financial Services First Look Foreclosure 2016-08-21 Kendall Baer About Author: Kendall Baer Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

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Word on the Street: Name something people learn only when it’s too late

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisALPENA, MICH — Reporter Lauren Mixon asks community members to name something people learn only when it’s too late.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: late, learn, Something people learn only when it’s too late, too late, Word on the street, WOTSContinue ReadingPrevious Alpena County Airport receives funding for new runway sweeperNext United Way hands out $200 gift cards to students in needlast_img