Black Knight’s First Look: Hurricane Impact Lingers, Drives Up Foreclosure Starts as Moratoria Lift; National Delinquencies Fall to 12-Month Low

• Seasonal effects and continued hurricane-related improvements contributed to a 13 percent decline in the national delinquency rate in March
  
• Nationally, there was a decline of 65,000 in serious delinquencies (90 or more days past due but not yet in foreclosure)
• Serious delinquencies attributable to Hurricanes Harvey and Irma saw a reduction of 19,500 loans
• However, as the hurricane impact shifts away from delinquencies, foreclosure starts rose by 12 percent
• More than two-thirds of that increase came from hurricane-affected areas of Texas and Florida
• Overall, active foreclosure inventory continues to improve, falling another 10,000 loans in March to its lowest level since late 2006
• Despite interest rates remaining above 4.4 percent, prepayment activity in March increased by 22 percent from February’s 4-year low

JACKSONVILLE, Fla., April 19, 2018 -- Black Knight, Inc. (NYSE:BKI) reports the following “first look” at March 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):​ 3.73%
Month-over-month change: -13.24%
Year-over-year change: 3.09%

Total U.S. foreclosure pre-sale inventory rate: 0.63%
Month-over-month change: -3.21%
Year-over-year change: -29.29%

Total U.S. foreclosure starts: 52,100
Month-over-month change: 11.56%
Year-over-year change: -13.60%

Monthly prepayment rate (SMM): 0.88%
Month-over-month change: 22.04%
Year-over-year change: -9.08%

Foreclosure sales as % of 90+: 1.70%
Month-over-month change: 21.25%
Year-over-year change: -25.79%

Number of properties that are 30 or more days past due, but not in foreclosure: ​1,912,000
Month-over-month change: -286,000
Year-over-year change: 81,000

Number of properties that are 90 or more days past due, but not in foreclosure: ​632,000
Month-over-month change: -65,000
Year-over-year change: 43,000

Number of properties in foreclosure pre-sale inventory: ​321,000
Month-over-month change: -10,000
Year-over-year change: -127,000

Number of properties that are 30 or more days past due or in foreclosure: 2,232,000
Month-over-month change: -296,000
Year-over-year change: -47,000

*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 here. 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 here by May 7, 2018.

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.

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
[email protected]

Mitch Cohen
704.890.8158
[email protected]