First-time Foreclosure Starts Hit All-time Low
Both mortgage originations and foreclosures are in freefall, according to the recent Mortgage Monitor report released by Black Knight Financial Services on Monday. Overall originations dropped 34 percent over the first quarter of the year, while foreclosure starts hit a 12-year low of just 52,800.
Mortgage field service inspectors are leaving the mortgage segment of the industry where the average inspection fee is $3. The mortgage segment is the home of 99.5% of the fraud greed and corruption in the industry.
As for foreclosures, April marked the lowest month on record for first-time foreclosure starts, with just 24,200 for the month. Repeat foreclosures also dropped, hitting their lowest point since April 2008. The total delinquency rate for the month was 4.08 percent, with foreclosure pre-sale inventory dropping 3.47 percent.
The states with the highest share of delinquent loans were Mississippi, Louisiana, Alabama, West Virginia, and Maine.