Black Knight: R.I. second among states for high percentage of delinquent mortgages

RHODE ISLAND ranked second among states in February for its percentage of mortgages that were 90 days delinquent or more at 3.7 percent, according to Black Knight Financial Services.
RHODE ISLAND ranked second among states in February for its percentage of mortgages that were 90 days delinquent or more at 3.7 percent, according to Black Knight Financial Services.

PROVIDENCE – Rhode Island ranked second among states in February for its percentage of mortgages that were 90 days delinquent or more at 3.7 percent, according to Black Knight Financial Services.
Mississippi ranked first at 5 percent, and Louisiana was third at 3.5 percent; Maine, fourth at 3.4 percent; and Alabama fifth at 3.3 percent.
Black Knight said the delinquency rate dropped to 5.4 percent nationwide, which was the lowest level since August 2007, and a 10.2 percent drop from February 2014. The foreclosure inventory also dropped below 800,000 for the first time since December 2007.
The mortgage prepayment rate jumped 75 percent year over year to 1.2 percent.
Rhode Island also ranked fifth for its 10 percent non-current percentage; noncurrent means a combination of foreclosures and delinquencies as a percent of active loans in that state. Coming in first in that category was Mississippi at 13.5 percent; followed by New Jersey, 11.7 percent; Louisiana, 10.7 percent; and New York, 10.2 percent.
Rhode Island also ranked first among states for its six-month deterioration in its non-current percentage at a 4.5 percent drop. Rhode Island was trailed by Hawaii (-4.65 percent), New Mexico (-4.7 percent), Louisiana (-5.6 percent) and South Dakota (-6.7 percent).

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