Fla., N.Y., N.J. Hold Outsized Share of Delinquent Loans: Black Knight

Three states — Florida, New York and New Jersey — held almost 30% of all seriously delinquent and active foreclosure homes nationwide in April, according to Black Knight Financial Services.

Although both seriously delinquent and active foreclosure inventories have improved over recent months, both categories still remain between two and three times pre-financial-crisis levels, Black Knight said in its monthly Mortgage Monitor Report for April.

The total U.S. loan delinquency rate for April was 4.77%, an increase of 1.46% from the previous month. The total foreclosure presale inventory rate was 1.51%, a decline of 2.43%.

Black Knight also reported that about 62% of all borrowers classified as at least 90 days past due have been enrolled in a type of home-retention program. Overall retention actions have declined over the past two years, but now make up a greater share of inventory classified as seriously delinquent, said Ben Graboske, senior vice president at Black Knight.