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Black Knight's First Look: June Has Fewest Foreclosure Starts in Over 17 Years; Active Foreclosure Inventory Less Than 300,000 for First Time Since Q3 2006

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Black Knight's First Look: June Has Fewest Foreclosure Starts in Over 17 Years; Active Foreclosure Inventory Less Than 300,000 for First Time Since Q3 2006

-- Foreclosure starts fell another 3.1 percent in June for the lowest single-month total in more than 17 years

-- Active foreclosures continued to decline as well, falling below 300,000 for the first time in nearly 12 years

-- The inventory of loans in active foreclosure has fallen 30 percent (-119k) over the past 12 months

-- Delinquencies edged seasonally upward in June, but remain 1.59 percent below last year's levels

-- After rising following the 2017 hurricane season, 90-day delinquencies hit a new post-recession low

-- Prepayment activity was up again in June as home sales reached their typical early-summer peak

PR Newswire

JACKSONVILLE, Fla., July 24, 2018 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at June 2018 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Black Knight, Inc. Logo (PRNewsfoto/Black Knight, Inc.)

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.74%
Month-over-month change: 2.71%
Year-over-year change: -1.59%

Total U.S. foreclosure pre-sale inventory rate: 0.56%
Month-over-month change: -4.51%
Year-over-year change: -29.98%

Total U.S. foreclosure starts: 43,500
Month-over-month change: -3.12%
Year-over-year change: -23.01%

Monthly prepayment rate (SMM): 0.95%
Month-over-month change: 2.45%
Year-over-year change: -15.04%

Foreclosure sales as % of 90+: 1.79%
Month-over-month change: -1.86%
Year-over-year change: -18.67%

Number of properties that are 30 or more days past due, but not in foreclosure: 1,925,000
Month-over-month change: 58,000
Year-over-year change: -7,000

Number of properties that are 90 or more days past due, but not in foreclosure: 548,000
Month-over-month change: -20,000
Year-over-year change: -7,000

Number of properties in foreclosure pre-sale inventory: 291,000
Month-over-month change: -12,000
Year-over-year change: -119,000

Number of properties that are 30 or more days past due or in foreclosure: 2,216,000
Month-over-month change: 45,000
Year-over-year change: -126,000

Top 5 States by Non-Current* Percentage

Mississippi:                  9.70%
Louisiana:                    7.64%
Alabama:                     6.71%
West Virginia:              6.65%
Maine:                         5.96%                                                 

Bottom 5 States by Non-Current* Percentage

North Dakota:               2.37%
Idaho:                           2.30%
Washington:                 2.26%
Oregon:                        2.16%
Colorado:                     1.95%

Top 5 States by 90+ Days Delinquent Percentage
Mississippi:                  2.92%
Florida:                        2.13%
Louisiana:                    2.01%
Alabama:                     1.88%
Arkansas:                    1.62%                                                                         

Top 5 States by 6-Month Improvement in Non-Current* Percentage
Florida:                         -39.08%
Texas:                          -26.31%
Louisiana:                    -21.89%
Arizona:                       -19.12%
New Mexico:                -18.73%                                                                                                          

Top 5 States by 6-Month Deterioration in Non-Current* Percentage
Alaska:                        -5.75%
North Dakota:              -5.84%
Hawaii:                        -12.29%
Delaware:                    -12.54%
Colorado:                     -13.18%                                  

*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 August 6, 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                                                                                  
Black Knight, Inc.                                                                                                                             
904.854.5043                                                                                      
michelle.kersch@bkfs.com                                                              

Mitch Cohen
Black Knight, Inc.
704.890.8158
mitch.cohen@bkfs.com

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SOURCE Black Knight, Inc.

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