Black Knight’s First Look at October 2017 Mortgage Data: National Delinquency Rate Sees Second Consecutive Annual Rise as Impact from Hurricanes Continues

• October’s 4BPS increase in the national delinquency rate can be directly linked to continued hurricane impact, while delinquencies fell 14BPS in non-affected areas
• Though delinquencies were down in all states except Texas and Florida, in FEMA-declared Hurricanes Harvey and Irma disaster areas, they rose another 24 percent (186BPS) in October
• The most notable increase was in Florida, where delinquencies spiked 36 percent from September in hurricane-affected areas
• Over 229,000 past-due mortgages can now be attributed to Hurricanes Irma (163,000) and Harvey (66,000)
• Total non-current inventories in Florida and Texas (all loans 30 or more days past due or in foreclosure) have risen 79 and 30 percent, respectively, over the past six months
• Prepayment activity rebounded in October, up 17 percent month-over-month, but still 25 percent below last year’s level
• The inventory of loans in active foreclosure continues to improve, falling below 350,000 for the first time since 2006

JACKSONVILLE, Fla., Nov. 21, 2017 -- The Data & Analytics division of Black Knight, Inc. (NYSE:BKI) reports the following “first look” at October 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):​ 4.44%
Month-over-month change: 0.94%
Year-over-year change: 2.05%

Total U.S. foreclosure pre-sale inventory rate: 0. 68%
Month-over-month change: -2.84%
Year-over-year change: -31.42%

Total U.S. foreclosure starts: 50,200
Month-over-month change: 11.06%
Year-over-year change: -11.15%

Monthly Prepayment Rate (SMM): 1.12%
Month-over-month change: 16.80%
Year-over-year change: -25.05%

Foreclosure Sales as % of 90+: 1.69%
Month-over-month change: -3.43%
Year-over-year change: -0.49%

Number of properties that are 30 or more days past due, but not in foreclosure: ​ 2,262,000
Month-over-month change: 17,000
Year-over-year change: 60,000

Number of properties that are 90 or more days past due, but not in foreclosure: ​ 589,000
Month-over-month change: 13,000
Year-over-year change: -88,000

Number of properties in foreclosure pre-sale inventory: ​ 348,000
Month-over-month change: -10,000
Year-over-year change: -156,000

Number of properties that are 30 or more days past due or in foreclosure: 2,610,000
Month-over-month change: 7,000
Year-over-year change: -96,000

*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/20171121.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 Dec. 4, 2017.

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.

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.