Nationwide foreclosure activity in February approached its lowest point since the financial crisis, mortgage analytics firm Black Knight Financial Services concluded in its monthly "first look" report.
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Foreclosures totaled 79,700 for the month, a 15% decline from January and 13% drop from February 2014. According to the company, foreclosure inventory hit its lowest point since December 2007, dipping under 800,000 for the first time since before the "Great Recession".
The delinquency also dropped to its lowest point since 2007 at 5.36%. Prepayments jumped 31% from January and 75% from February 2014.
