Today, the Data and Analytics division of Black Knight Financial Services released its latest Mortgage Monitor Report, looking at data as of the end of April 2014:

- Nearly 2 million loan modifications are facing interest rate resets; 40 percent are underwater

- Over 10 percent of active loans are in "near negative equity" positions, with 9 percent equity or less

- ARMs with interest rates below 6 percent are prepaying at faster speed than fixed mortgages

- Gap between judicial and non-judicial states' pipeline ratios lowest since at least 2005.

The data also showed that Adjustable Rate Mortgages (ARMs) with notes below 6 percent were prepaying at significantly higher speeds than their fixed-rate mortgage counterparts. This suggests....continue reading.