Compared with nondelinquent participants, the mortgage-delinquent group had worse health status and less access to health-relevant resources at baseline. We used logistic regression to compare changes in health (incidence of elevated depressive symptoms, major declines in self-rated health) and access to health-relevant resources (food, prescription medications) between participants who fell behind on their mortgage payments and those who did not. In 2008, participants reported whether they had fallen behind on mortgage payments since 2006 (n = 2474). We evaluated associations between mortgage delinquency and changes in health and health-relevant resources over 2 years, with data from the Health and Retirement Study, a longitudinal survey representative of US adults older than 50 years. Bay Federal has an award-winning employee volunteer program in which employees have given their own money and volunteer for numerous local schools, nonprofit organizations, and community events each year.Objectives. Bay Federal is a certified Community Development Financial Institution, with a primary mission of promoting community development alongside their financial activities. The organization has been proudly serving its members and the community since 1957. With more than $1.6 billion in assets, Bay Federal is the largest member-owned financial institution in the region. For more information on Black Knight, please visit About Bay Federal Credit Unionīay Federal Credit Union is a full-service, not-for-profit financial institution that serves over 86,000 members and 2,400 local businesses throughout Santa Cruz, San Benito, and Monterey counties. Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serving their customers. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. The Mortgage Monitor report will be available online at by May 1, 2023.įor more information about gaining access to Black Knight’s loan-level database, please send an email to About Black Knightīlack Knight, Inc. The company will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by detailed charts and graphs that reflect trend and point-in-time observations. All whole numbers are rounded to the nearest thousand, except foreclosure starts, which are rounded to the nearest hundred.Totals are extrapolated based on Black Knight’s loan-level database of mortgage assets.*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state. – Ap– Black Knight, Inc. (NYSE:BKI) reports the following “first look” at March 2023 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market. The prepayment rate (SMM) rose to 0.50% (+44% month over month) driven, as anticipated, by seasonal tailwinds in sale-related prepayments and an increased demand for refis due to falling rates.Active foreclosure inventory held steady, but remains 31K (12%) below March 2020 levels.Both foreclosure starts (+9.0%) and sales (+4.6%) rose in the month but still remain well below pre-pandemic volumes at the national level.Likewise, every state saw overall delinquencies fall in March, with improvements ranging from 11.9% in Washington to 21.5% in Vermont.Serious delinquencies (90+ days past due) showed marked improvement, falling by 51K to their lowest level since March 2020, with volumes shrinking in every state.Factoring in March’s decline, the total number of past-due mortgages (including active foreclosures) has fallen to its lowest level in nearly 23 years, dating all the way back to April 2000.While delinquency rates almost always fall in March – as borrowers utilize tax refunds and other seasonal revenues to pay down past-due debt – the drop marked the second largest decline in the past 17 years.The national delinquency rate dropped 53 basis points (-15%) in March, falling below 3% for the first time on record, ending the month at just 2.92%.
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