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- 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
| Top 5 States by Non-Current* Percentage | ||
| Mississippi: | 10.16 | % |
| Louisiana: | 8.68 | % |
| Alabama: | 7.13 | % |
| West Virginia: | 6.83 | % |
| Maine: | 6.60 | % |
| Bottom 5 States by Non-Current* Percentage | ||
| Oregon: | 2.70 | % |
| Idaho: | 2.69 | % |
| Minnesota: | 2.51 | % |
| North Dakota: | 2.26 | % |
| Colorado: | 2.12 | % |
| Top 5 States by 90+ Days Delinquent Percentage | ||
| Mississippi: | 3.10 | % |
| Louisiana: | 2.56 | % |
| Alabama: | 2.13 | % |
| Arkansas: | 1.80 | % |
| Tennessee: | 1.66 | % |
| Top 5 States by 6-Month Improvement in Non-Current* Percentage | ||
| New Jersey: | -20.12 | % |
| District of Columbia: | -19.05 | % |
| Nevada: | -18.87 | % |
| Florida: | -18.49 | % |
| New York: | -16.72 | % |
| Top 5 States by 6-Month Deterioration in Non-Current* Percentage | ||
| Alaska: | 5.14 | % |
| North Dakota: | -4.01 | % |
| Montana: | -7.69 | % |
| South Dakota: | -9.49 | % |
| Maine: | -10.71 | % |
*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]
