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 (GLOBE NEWSWIRE) -- 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 dataanalyticsinfo@bkfs.com.
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
michelle.kersch@bkfs.com
Mitch Cohen
704.890.8158
mitch.cohen@bkfs.com
