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Foreclosure Inventory Below 400,000 for the First Time Since February 2007

• Foreclosure inventory fell by 12,000 in July, bringing the total below 400,000 for the first time since February 2007

• Active foreclosure inventory has declined by 28 percent (more than 150,000) over the past 12 months

• July’s 53,300 foreclosure starts mark the second lowest (next to April 2017) monthly volume since the start of 2005

• New York has the most active foreclosures (58,000) and highest foreclosure rate (2.4 percent) of any state

• Early-stage mortgage delinquencies experienced a slight seasonal uptick in July

• Following monthly gains in May and June, prepayment activity fell by nearly 10 percent in July

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