Black Knight: R.I. third in U.S. for most late mortgages

RHODE ISLAND ranked second among states in April for its percentage of mortgages that were 90 days delinquent or more at 3.3 percent, according to Black Knight Financial Services.
RHODE ISLAND ranked second among states in April for its percentage of mortgages that were 90 days delinquent or more at 3.3 percent, according to Black Knight Financial Services.

PROVIDENCE – Rhode Island again was one of five states with the most mortgages that were delinquent by 90 days or more in July, according to data released Friday by Black Knight Financial Services.
Rhode Island had the third-highest number of late mortgages at 3.03 percent. Topping the list was Mississippi at 4.4 percent, followed by Louisiana at 3.1 percent. Fourth was Alabama with 3.01 percent and fifth was Arkansas with 2.7 percent.
Black Knight released the information as part of its review of July 2015 month-end mortgage statistics from its loan-level database representing approximately two-thirds of the market.
It said that the inventory of loans in foreclosure nationwide continues to decline and now numbers 711,000. The foreclosure inventory fell 24 percent year over year in July and is at the lowest level since 2007, Black Knight said.
The national loan delinquency rate also fell 16.5 percent over the year to 4.7 percent, and is near a post-housing crisis low, Black Knight said. The national monthly mortgage pre-payment rate was 1.3 percent, and increased 20 percent over the year.
There were 886,000 properties nationwide that were 90 days or more past due, but not in foreclosure, in July. That represents a year-over-year drop of 250,000.
Mississippi had the most foreclosures and delinquencies as a percent of active loans in the state at 12.8 percent. North Dakota had the least at 2.2 percent.

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