The number of serious delinquencies dropped in September according to Black Knight. The 43,000 decline in the number of loans that were 90 or more days past due marked the first improvement in that statistic since the start of the pandemic. The change leaves 2.32 million homeowners seriously overdue on their mortgages but not in foreclosure, 1.88 million more than in September 2019. Black Knight's "first look" at September's loan performance data showed an overall decline in most stages of delinquency more than six months after Congress enacted loss mitigation measures to deal with the economic disruption caused by the COVID-19 virus. Total delinquencies declined 3.10 percent from August although again they were 89.03 percent higher on an annual basis. There were 3.54 million mortgages that were 30 or more days past due but not in foreclosure, down 137,000 from August. The national delinquency rate was 6.66 percent compared to 6.88 percent the previous month.

 

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