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THE LEADER
IN DEFAULT
SERVICING
NEWS
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THE
ROAD TO
RECOVERY
AFTER
DISASTER
Delinquency rates fell to historically
low levels in December 2019, according to
CoreLogic. e Loan Performance Insights
report reveals that 3.7% of home mortgages
were in some stage of delinquency in
December, down from 4.1% in 2018. On
the state level, no state saw an increase in
delinquency.
e serious delinquency rate, defined as
90 days or more past due, including loans
in foreclosure, was 1.2% in December 2019,
down from 1.5% in December 2018. is is
the lowest serious delinquency rate experienced
since June 2000. e foreclosure inventory rate
was 0.4% in December 2019, unchanged from
a year earlier.
Areas recovering from natural disasters
saw some of the biggest drops in delinquency.
Panama City, Florida, which was affected
by Hurricane Michael in 2018, saw the
largest annual decrease with a 5.9 percentage
point drop. Chico, California, the site of
the destructive 2018 Camp Fire, had a
3.1 percentage point drop in the annual
delinquency rate. e states that logged the
largest annual decreases included North
Carolina and Mississippi (both down 0.8
percentage points).
e highest percentage of mortgages at
least 30 days past due could be found in Miami
at 5.1%. San Francisco had the lowest rate at
1.2%.
While December 2019's delinquency rates
nationally were at their lowest levels in 20 years,
there were 13 metropolitan areas that recorded
annual increases. e largest annual increases
were in the following metros: Janesville-Beloit,
Wisconsin (up 1.9 percentage points); Enid,
Oklahoma (up 0.6 percentage points); and Pine
Bluff, Arkansas (up 0.6 percentage points).
