Black Knight’s First Look at May 2017 Mortgage Data: Easing Interest Rates Spur Increase in Prepayment Activity; Delinquencies Pull Back After April’s Increase

• Prepayments (historically a good indicator of refinance activity) jumped 23 percent month-over-month, reaching their highest point so far in 2017
• Delinquencies reversed course after calendar-driven increase in April, falling 7.13 percent month-over-month
• Inventory of loans either seriously delinquent (90 or more days past due) or in active foreclosure continues to improve, with both hitting 10-year lows in May
• Just 2.12 percent of Colorado borrowers are past due on mortgage payments, the lowest of any state; Mississippi has the highest non-current rate of any state at 10.16 percent

JACKSONVILLE, Fla., June 22, 2017 -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE:BKFS) reports the following “first look” at May 2017 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):​ 3.79%
Month-over-month change: -7.13%
Year-over-year change: -10.78%

Total U.S. foreclosure pre-sale inventory rate: 0.83%
Month-over-month change: -2.97%
Year-over-year change: -26.90%

Total U.S. foreclosure starts: 55,800
Month-over-month change: 5.68%
Year-over-year change: -10.14%

Monthly Prepayment Rate (SMM): 1.06%
Month-over-month change: 23.42%
Year-over-year change: -18.32%

Foreclosure Sales as % of 90+: 2.17%
Month-over-month change: 10.40%
Year-over-year change: 6.68%

Number of properties that are 30 or more days past due, but not in foreclosure: ​1,927,000
Month-over-month change: -145,000
Year-over-year change: -226,000

Number of properties that are 90 or more days past due, but not in foreclosure: ​562,000
Month-over-month change: -19,000
Year-over-year change: -157,000

Number of properties in foreclosure pre-sale inventory: ​421,000
Month-over-month change: -12,000
Year-over-year change: -153,000

Number of properties that are 30 or more days past due or in foreclosure: ​2,348,000
Month-over-month change: -158, 000
Year-over-year change: -379,000 

*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 Financial Services’ 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/20170622.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 July 10, 2017.

For more information about gaining access to Black Knight’s loan-level database, please send an email to [email protected].

About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE:BKFS) is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.

Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.

SOURCE: BLACK KNIGHT FINANCIAL SERVICES, INC.

For more information:

Michelle Kersch
904.854.5043
[email protected]

Mitch Cohen
646.546.5103
[email protected]