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- Calendar-driven effects and fewer hurricane-related delinquencies resulted in a 210,000-loan decline in the number of past-due mortgages
- Despite an 8.6 percent monthly decline, delinquencies remain 1.3 percent above last year’s levels
- 146,000 loans remain delinquent as a result of Hurricanes Harvey and Irma, 132,000 of which are seriously delinquent (90 or more days past due)
- An early look at January data on the mortgage market in Puerto Rico shows an additional 57,000 loans still delinquent as a result of Hurricane Maria, with 49,000 seriously delinquent
- Active foreclosures predating the hurricanes, but put on hold after the storms, have begun to revert back to that status as post-hurricane foreclosure moratoria become set to expire
- As a result, foreclosure starts rose sharply in January, hitting a 12-month high at 62,300 for the month
- The population of loans in active foreclosure rose 6,000 month-over-month, marking only the second monthly rise in more than five years
JACKSONVILLE, Fla., Feb. 23, 2018 -- Black Knight, Inc. (NYSE:BKI) reports the following “first look” at January 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): 4.31%
Month-over-month change: -8.57 %
Year-over-year change: 1.31%
Total U.S. foreclosure pre-sale inventory rate: 0.66%
Month-over-month change: 1.84%
Year-over-year change: -30.35%
Total U.S. foreclosure starts: 62,300
Month-over-month change: 40.0%
Year-over-year change: -11.51%
Monthly prepayment rate (SMM): 0.79%
Month-over-month change: -14.73%
Year-over-year change: -16.80%
Foreclosure sales as % of 90+: 1.74%
Month-over-month change: 42.25%
Year-over-year change: -21.75%
Number of properties that are 30 or more days past due, but not in foreclosure: 2,202,000
Month-over-month change: -210,000
Year-over-year change: 40,000
Number of properties that are 90 or more days past due, but not in foreclosure: 707,000
Month-over-month change: -19,000
Year-over-year change: 43,000
Number of properties in foreclosure pre-sale inventory: 337,000
Month-over-month change: 6,000
Year-over-year change: -144,000
Number of properties that are 30 or more days past due or in foreclosure: 2,539,000
Month-over-month change: -204,000
Year-over-year change: -104,000
| Top 5 States by Non-Current* Percentage | |
| Mississippi: | 10.95% |
| Louisiana: | 9.34% |
| Florida: | 8.34% |
| Alabama: | 7.47% |
| West Virginia: | 7.17% |
| Bottom 5 States by Non-Current* Percentage | |
| Idaho: | 2.59% |
| Washington: | 2.50% |
| Oregon: | 2.43% |
| North Dakota: | 2.36% |
| Colorado: | 2.05% |
| Top 5 States by 90+ Days Delinquent Percentage | |
| Florida: | 3.96% |
| Mississippi: | 3.37% |
| Louisiana: | 2.68% |
| Texas: | 2.33% |
| Alabama: | 2.13% |
| Top 5 States by 6-Month Improvement in Non-Current* Percentage | |
| District of Columbia: | -11.18% |
| Washington: | -10.37% |
| New Jersey: | -8.33% |
| Oregon: | -6.98% |
| Utah: | -6.89% |
| Top 5 States by 6-Month Deterioration in Non-Current* Percentage | |
| Florida: | 59.37% |
| Texas: | 21.85% |
| Louisiana: | 6.55% |
| Georgia | 5.85% |
| Alaska: | 5.69% |
*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 at http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/20180223.aspx
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 at http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/Mortgage-Monitor.aspx by March 5, 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]
