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- Seasonal effects and continued hurricane-related improvements contributed to a 13 percent decline in the national delinquency rate in March
- Nationally, there was a decline of 65,000 in serious delinquencies (90 or more days past due but not yet in foreclosure)
- Serious delinquencies attributable to Hurricanes Harvey and Irma saw a reduction of 19,500 loans
- However, as the hurricane impact shifts away from delinquencies, foreclosure starts rose by 12 percent
- More than two-thirds of that increase came from hurricane-affected areas of Texas and Florida
- Overall, active foreclosure inventory continues to improve, falling another 10,000 loans in March to its lowest level since late 2006
- Despite interest rates remaining above 4.4 percent, prepayment activity in March increased by 22 percent from February’s 4-year low
JACKSONVILLE, Fla., April 19, 2018 -- Black Knight, Inc. (NYSE:BKI) reports the following “first look” at March 2018 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.73%
Month-over-month change: -13.24%
Year-over-year change: 3.09%
Total U.S. foreclosure pre-sale inventory rate: 0.63%
Month-over-month change: -3.21%
Year-over-year change: -29.29%
Total U.S. foreclosure starts: 52,100
Month-over-month change: 11.56%
Year-over-year change: -13.60%
Monthly prepayment rate (SMM): 0.88%
Month-over-month change: 22.04%
Year-over-year change: -9.08%
Foreclosure sales as % of 90+: 1.70%
Month-over-month change: 21.25%
Year-over-year change: -25.79%
Number of properties that are 30 or more days past due, but not in foreclosure: 1,912,000
Month-over-month change: -286,000
Year-over-year change: 81,000
Number of properties that are 90 or more days past due, but not in foreclosure: 632,000
Month-over-month change: -65,000
Year-over-year change: 43,000
Number of properties in foreclosure pre-sale inventory: 321,000
Month-over-month change: -10,000
Year-over-year change: -127,000
Number of properties that are 30 or more days past due or in foreclosure: 2,232,000
Month-over-month change: -296,000
Year-over-year change: -47,000
| Top 5 States by Non-Current* Percentage | |||
| Mississippi: | 9.45% | ||
| Louisiana: | 7.76% | ||
| Florida: | 7.15% | ||
| Alabama: | 6.66% | ||
| West Virginia: | 6.06% | ||
| Bottom 5 States by Non-Current* Percentage | |||
| North Dakota: | 2.26% | ||
| Minnesota: | 2.26% | ||
| Washington: | 2.20% | ||
| Oregon: | 2.19% | ||
| Colorado: | 1.82% | ||
| Top 5 States by 90+ Days Delinquent Percentage | |||
| Florida: | 3.34% | ||
| Mississippi: | 3.03% | ||
| Louisiana: | 2.23% | ||
| Texas: | 1.99% | ||
| Alabama: | 1.97% | ||
| Top 5 States by 6-Month Improvement in Non-Current* Percentage | |||
| Texas: | -22.37% | ||
| Utah: | -20.15% | ||
| Washington: | -20.10% | ||
| Louisiana: | -18.09% | ||
| District of Columbia: | -17.83% | ||
| Top 5 States by 6-Month Deterioration in Non-Current* Percentage | |||
| Florida: | -6.71% | ||
| North Dakota: | -8.10% | ||
| Alaska: | -9.78% | ||
| Maine: | -10.01% | ||
| Vermont: | -10.68% | ||
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
Notes:
1) Totals are extrapolated based on Black Knight’s loan-level database of mortgage assets.
2) All whole numbers are rounded to the nearest thousand, except foreclosure starts, which are rounded to the nearest hundred.
For a more detailed view of this month’s “first look” data, please visit the Black Knight newsroom here. 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. The Mortgage Monitor report will be available online here by May 7, 2018.
For more information about gaining access to Black Knight’s loan-level database, please send an email to [email protected].
About Black Knight
Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.
As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.
For more information:
Michelle Kersch
904.854.5043
[email protected]
Mitch Cohen
704.890.8158
[email protected]
