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Black Knight's First Look: Increased Mortgage Cures in July Push Delinquencies to Lowest Level Since March 2006; Foreclosure Starts Rise 11 Percent

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Black Knight's First Look: Increased Mortgage Cures in July Push Delinquencies to Lowest Level Since March 2006; Foreclosure Starts Rise 11 Percent

- Continued hurricane-related cure activity pushed delinquencies to their lowest level in more than 12 years

- Foreclosure starts rose 11 percent over June's 17-year low to 48,300, for the highest total in three months

- Though starts rose nationwide, foreclosure referrals in hurricane-affected areas of Texas increased by a higher-than-average 19 percent

- Fewer completions and an increase in starts caused foreclosure inventory to rise slightly in July, for just the second such increase in the past three years

- Improving delinquencies outweighed the slight increase in foreclosures, bringing the total non-current population (all loans 30 or more days delinquent or in active foreclosure) to a more than 12-year low

PR Newswire

JACKSONVILLE, Fla., Aug. 23, 2018 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at July 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): 3.61%
Month-over-month change: -3.35%
Year-over-year change: -7.50%

Total U.S. foreclosure pre-sale inventory rate: 0.57%
Month-over-month change: 0.73%
Year-over-year change: -27.32%

Total U.S. foreclosure starts: 48,300
Month-over-month change: 11.03%
Year-over-year change: -9.38%

Monthly prepayment rate (SMM): 0.90%
Month-over-month change: -5.33%
Year-over-year change: -11.04%

Foreclosure sales as % of 90+: 1.70%
Month-over-month change: -4.79%
Year-over-year change: -13.14%

Number of properties that are 30 or more days past due, but not in foreclosure: 1,861,000
Month-over-month change: -64,000
Year-over-year change: -125,000

Number of properties that are 90 or more days past due, but not in foreclosure: 528,000
Month-over-month change: -20,000
Year-over-year change: -27,000

Number of properties in foreclosure pre-sale inventory: 293,000
Month-over-month change: 2,000
Year-over-year change: -105,000

Number of properties that are 30 or more days past due or in foreclosure: 2,154,000
Month-over-month change: -62,000
Year-over-year change: -230,000

Top 5 States by Non-Current* Percentage


Mississippi: 

9.61%

Louisiana: 

7.78%

Alabama: 

6.62%

West Virginia:

6.36%

Indiana:

5.85%

 

Bottom 5 States by Non-Current* Percentage


Washington:

2.31%

North Dakota: 

2.29%

Idaho: 

2.25%

Oregon: 

2.13%

Colorado: 

1.91%

 

Top 5 States by 90+ Days Delinquent Percentage



Mississippi: 

2.89%

Louisiana: 

2.09%

Alabama: 

1.91%

Florida: 

1.79%

Arkansas: 

1.64%

 

Top 5 States by 6-Month Improvement in Non-Current* Percentage


Florida: 

-37.20%

Texas: 

-23.77%

Louisiana:

-16.68%

Rhode Island: 

-15.30%

Nevada: 

-14.26%

 

Top 5 States by 6-Month Deterioration in Non-Current* Percentage


North Dakota:

-3.22%

Colorado: 

-7.15%

Washington: 

-7.45%

Delaware: 

-8.14%

Alaska: 

-8.51%

                       

*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 Sept. 10, 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

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.

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