COOP - 2020 ends with 1.7M more seriously delinquent mortgages: Black Knight
Last year ended with 2.15M of homeowners seriously delinquent on their mortgage payments, 1.7M more than at its start, even after months of improvement, according to Black Knight's First Look at December 2020 data.The national delinquency rate in December fell to its lowest level since April; serious delinquencies also improved, with 400K fewer homeowners 90 or more days past due on their mortgage than the previous month.Source: Black KnightEven with months of improvement, some 2.6M homeowners became seriously past due in the past year, up 250% in 90-day default activity. Overall, 1.54M more mortgages were delinquent than at the start of the year, or 3.4M in total.As moratoriums for evictions and foreclosures were put in place during the pandemic, foreclosure starts fell by 67% Y/Y and the year's 40K foreclosure sales (completions) represented an annual decline of more than 70%.Prepayment activity increased by 12% in December, up 112% from a
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2020 ends with 1.7M more seriously delinquent mortgages: Black Knight