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- Despite upward seasonal pressure, mortgage delinquencies held steady at 3.8 percent in June
- While total non-current inventory saw a three percent seasonal rise over Q2 2017, the inventory of serious delinquencies (loans 90 or more days past due) and active foreclosures fell by seven percent
- In total, serious delinquencies and active foreclosures have declined by 17 percent (nearly 200,000 loans) this year
- Low interest rates helped push prepayment activity up another 5.3 percent in June, following May’s 23 percent rise
- Though hitting calendar-year highs for two consecutive months, the national prepayment rate remains over 20 percent below last year’s levels
JACKSONVILLE, Fla., July 20, 2017 -- The Data & Analytics division of Black Knight Financial Services, Inc., (NYSE:BKFS) reports the following “first look” at June 2017 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): 3.80%
Month-over-month change: 0.12%
Year-over-year change: -11.84%
Total U.S. foreclosure pre-sale inventory rate: 0.81%
Month-over-month change: -2.71%
Year-over-year change: -27.01%
Total U.S. foreclosure starts: 56,500
Month-over-month change: 1.25%
Year-over-year change: -18.47%
Monthly Prepayment Rate (SMM): 1.12%
Month-over-month change: 5.26%
Year-over-year change: -22.06%
Foreclosure Sales as % of 90+: 2.20%
Month-over-month change: 1.57%
Year-over-year change: -4.58%
Number of properties that are 30 or more days past due, but not in foreclosure: 1,932,000
Month-over-month change: 5,000
Year-over-year change: -246,000
Number of properties that are 90 or more days past due, but not in foreclosure: 555,000
Month-over-month change: -7,000
Year-over-year change: -137,000
Number of properties in foreclosure pre-sale inventory: 410,000
Month-over-month change: -11,000
Year-over-year change: -148,000
Number of properties that are 30 or more days past due or in foreclosure: 2,342,000
Month-over-month change: -6, 000
Year-over-year change: -394,000
Top 5 States by Non-Current* Percentage
Mississippi: 10.13%
Louisiana: 8.64%
Alabama: 7.13%
West Virginia: 6.80%
Maine: 6.63%
Bottom 5 States by Non-Current* Percentage
Montana: 2.64%
Oregon: 2.62%
Minnesota: 2.47%
North Dakota: 2.23%
Colorado: 2.14%
Top 5 States by 90+ Days Delinquent Percentage
Mississippi: 3.05%
Louisiana: 2.51%
Alabama: 2.10%
Arkansas: 1.83%
Tennessee: 1.63%
Top 5 States by 6-Month Improvement in Non-Current* Percentage
New Jersey: -17.39%
Florida: -17.33%
Arizona: -16.81%
West Virginia: -16.69%
Nevada: -16.51%
Top 5 States by 6-Month Deterioration in Non-Current* Percentage
Alaska: 7.10%
Vermont: -9.55%
South Dakota: -9.82%
Montana: -10.49%
Alabama: -10.61%
*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 Financial Services’ 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/20170720.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 Aug. 7, 2017.
For more information about gaining access to Black Knight’s loan-level database, please send an email to [email protected].
About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE:BKFS) is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.
For more information: Michelle Kersch 904.854.5043 [email protected] Mitch Cohen 646.546.5103 [email protected]
