Black Knight Says Past-Due Mortgages Increased by 1.6 Million in April
According to Black Knight’s “first look” report for April, past-due mortgages increased by 1.6 Million, which was the largest single-month increase ever recorded. There were 3.6 million homeowners past due on their mortgages as of the end of April, the largest number since January 2015. In addition, they reported that both foreclosure starts and foreclosure sales hit record lows in April as moratoriums halted foreclosure activity across the country. Interestingly, prepayment speeds jumped 23% and hit the highest monthly prepayment rate in 16 years.
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