Black Knight: R.I. one of top 5 states for late mortgages in August

RHODE ISLAND was fourth-highest in the nation for late mortgages at 2.8 percent, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
RHODE ISLAND was fourth-highest in the nation for late mortgages at 2.8 percent, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – Rhode Island again was one of the top five states with the most mortgages delinquent by 90 days or more, according to data released Friday by Black Knight Financial Services.
Rhode Island was fourth-highest in the nation for late mortgages in August at 2.8 percent. Mississippi topped the list at 4.4 percent, followed by Louisiana, 3.1 percent; Alabama, 2.9 percent; Rhode Island; and Arkansas, 2.7 percent, Black Knight said.
The total U.S. loan delinquency rate – loans that are 30 days or more past due, but not in foreclosure – was 4.8 percent, a year-over-year drop of 18.2 percent – the highest decline since May 2011.
The total U.S. foreclosure pre-sale inventory rate was 1.4 percent, a 23.7 percent drop over the year. Foreclosure starts fell 1.4 percent in August to 80,500. The monthly prepayment rate also continued to decline, dropping 11.4 percent over the year to 1.1 percent.
The number of properties that are 90 days or more past due, but not in foreclosure totaled 865,000 in August, a drop of 278,000 from August 2014. The number of properties 30 or more days past due or in foreclosure numbered 3.1 million, a drop year over year of 766,000.
Mississippi had the most foreclosures and delinquencies as a percent of active loans in the state at 12.3 percent, while North Dakota had the fewest at 2.1 percent, in August.

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