Prepayment, foreclosure starts down in February

Prepayment speeds have fallen 40 per cent so far in 2017 and were down 15 per cent last month, the lowest monthly rate in three years.

A first look at data from Black Knight Financial’s loan database for February also reveals that foreclosure starts were down 18 per cent month-over-month and were 31 per cent down from a year earlier. Active foreclosure inventory is 470,000, the lowest since 2007.

The top 5 states by non-current percentage were Mississippi, Louisiana, Alabama, West Virginia and New Jersey. The bottom 5 were Idaho, Montana, Minnesota, Colorado and North Dakota.

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