Black Knight's First Look: Continued Improvement Pushes Mortgage Delinquencies to New Record Low in May; Prepayment Activity Doubles Over Past Four Months
JACKSONVILLE, Fla., June 20, 2019 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) reports the following "first look" at May 2019 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): 3.36%
Month-over-month change: -3.03%
Year-over-year change: -7.50%
Total U.S. foreclosure pre-sale inventory rate: 0.49%
Month-over-month change: -1.65%
Year-over-year change: -17.38%
Total U.S. foreclosure starts: 39,000
Month-over-month change: -5.80%
Year-over-year change: -13.14%
Monthly prepayment rate (SMM): 1.23%
Month-over-month change: 24.31%
Year-over-year change: 32.17%
Foreclosure sales as % of 90+: 1.81%
Month-over-month change: 6.94%
Year-over-year change: -0.82%
Number of properties that are 30 or more days past due, but not in foreclosure: 1,760,000
Month-over-month change: -52,000
Year-over-year change: -107,000
Number of properties that are 90 or more days past due, but not in foreclosure: 461,000
Month-over-month change: -13,000
Year-over-year change: -107,000
Number of properties in foreclosure pre-sale inventory: 255,000
Month-over-month change: -4,000
Year-over-year change: -48,000
Number of properties that are 30 or more days past due or in foreclosure: 2,015,000
Month-over-month change: -57,000
Year-over-year change: -156,000
Top 5 States by Non-Current* Percentage
Mississippi: 9.86% Louisiana: 7.34% Alabama: 6.37% West Virginia: 5.94% Arkansas: 5.64%
Bottom 5 States by Non-Current* Percentage
California: 2.15% Idaho: 2.02% Washington: 1.98% Oregon: 1.91% Colorado: 1.75%
Top 5 States by 90+ Days Delinquent Percentage
Mississippi: 3.05% Louisiana: 1.93% Alabama: 1.86% Arkansas: 1.68% Tennessee: 1.30%
Top 5 States by 6-Month Improvement in Non-Current* Percentage
Idaho: -20.85% North Dakota: -19.04% Kentucky: -17.73% Iowa: -15.90% Oregon: -15.86%
Top 5 States by 6-Month Deterioration in Non-Current* Percentage
Alaska: 9.70% New York: -0.70% Nebraska: -1.72% Maryland: -2.38% Delaware: -3.06%
*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.
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 https://www.blackknightinc.com/data-reports/ by July 1, 2019.
For more information about gaining access to Black Knight's loan-level database, please send an email to Mortgage.Monitor@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 Mitch Cohen Black Knight, Inc. Black Knight, Inc. 904.854.5043 704.890.8158 michelle.kersch@bkfs.com mitch.cohen@bkfs.com ---
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SOURCE Black Knight, Inc.