Black Knight Says Foreclosure Starts 20% Below Pre-Pandemic Levels, Despite Increase

Black Knight’s Mortgage Monitor Report for January, 2022 says that despite a more than 7x increase, January’s foreclosure starts remained more than 20% below pre-pandemic levels. In addition, foreclosure starts were almost evenly split between borrowers who were already delinquent prior to the pandemic and those who became past due more recently.

“A backlog of post-forbearance loans in active loss mitigation – plus another 275K that have finished loss mitigation but remain past due – calls for a close watch on foreclosure metrics in coming months.”