Residential loan servicers made progress on the level of seriously delinquent loans. But the number of completed foreclosures accelerated.
The share of borrowers on
home loans who were at least 90 days past due as of January worked out to 4.0 percent.
CoreLogic Inc. released the performance data Tuesday.
Serious delinquency has not been this low since June 2008.
The 90-day rate was previously reported at 4.1 percent for December 2014 and 5.0 percent in January 2014.
At 8.9 percent, New Jersey had the worst 90-day rate in the country. Florida’s 7.7 percent was next, then 7.2 percent in New York, 5.7 percent in Maryland and 5.6 percent in Mississippi.
North Dakota’s 1.0 percent was the lowest serious delinquency rate in the nation.
At the end of January, around 549,000 U.S. properties were in some stage of foreclosure,
diminishing from a upwardly revised 564,000 as of Dec. 31, 2014.
The foreclosure inventory
has plummeted from 822,000 in January 2014.
It was the 39th consecutive month that the foreclosure inventory has moved lower on a year-over-year basis.
As a share of all homes with a mortgage, the foreclosure inventory worked out to 1.4 percent during the most-recent month.
The foreclosure rate has not been this low since March 2008.
The rate was
1.4 percent as of the final month of last year and 2.0 percent in the first month of last year.
January 2015’s foreclosure rate was 5.2 percent in New Jersey, higher than in any other state.
Next was New York’s 4.0 percent rate. Florida followed with a 3.5 percent rate, then 2.7 percent in Hawaii and 2.5 percent in Washington, D.C.
Alaska’s 0.3 percent foreclosure inventory rate was the lowest in the country.
Mortgage servicers completed 43,000 U.S. foreclosures in January.
Repossessions
ascended from December, when an downwardly revised 37,000 foreclosures were completed. But activity slid from 55,000 real-estate-owned filings in January 2014.
