The delinquency rate, which includes residential homes that are 30 days or more overdue on mortgage payments but not in foreclosure, tumbled by 18 percent year-over-year in August down to 4.83 percent, the largest over-the-year decline since May 2011, according to Black Knight.
Mortgage inspection volumes are very low compared to the peak days. Too many mortgage inspectors are chasing the $3 mortgage drive-by inspections. Some inspectors are working for less that $3.
Feet dry out in the winter in the northern climates. Mortgage inspections are dryer than the feet of a Michigan upper peninsula field inspector in January. The mortgage segment is also the home of 99% of the fraud in the industry.