R.I. ranks third among states regarding delinquent mortgages

PROVIDENCE – Rhode Island again ranked third last month among states with the most mortgages that were delinquent by 90 days or more, according to data released Friday by Black Knight Financial Services’ data and analytics division.
Rhode Island’s rate was 3.53 percent for mortgages delinquent by 90 days or more, higher than August’s rate of 3.49 percent.
Mississippi ranked first with 5.34 percent; Alabama, second with 3.6 percent; Louisiana, fourth with 3.52 percent; and Massachusetts, fifth with 3.26 percent.
Black Knight Financial Services’ data showed that nationally, delinquent inventory declined by 117,000 in September, nearly reversing an August increase of 146,000.
The total U.S. loan delinquency rate – loans that are 30 or more days past due, but not in foreclosure – increased 5.67 percent in September, lower than August’s rate of 5.9 percent, which had been the highest since February.
Black Knight also said that serious delinquency, which represents mortgages that are 90 or more days past due, is at the lowest since August 2008, with 1.1 million properties nationally in that category, a drop of 213,000 from a year ago.
Foreclosure inventory fell by more than 400,000 nationally in September compared with last year, Black Knight said.
Black Knight’s data represents mortgage statistics from its loan-level database – approximately two-thirds of the overall market.

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