Black Knight Financial Services’ First Look at July 2017 Mortgage Data: Active Foreclosure Inventory Falls Below 400,000 For First Time in 10 Years

• Foreclosure inventory fell by 12,000 in July, bringing the total below 400,000 for the first time since February 2007
• Active foreclosure inventory has declined by 28 percent (more than 150,000) over the past 12 months
• July’s 53,300 foreclosure starts mark the second lowest (next to April 2017) monthly volume since the start of 2005
• New York has the most active foreclosures (58,000) and highest foreclosure rate (2.4 percent) of any state
• Early-stage mortgage delinquencies experienced a slight seasonal uptick in July
• Following monthly gains in May and June, prepayment activity fell by nearly 10 percent in July

JACKSONVILLE, Fla., Aug. 24, 2017 -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE:BKFS) reports the following “first look” at July 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):​ 3.90%
Month-over-month change: 2.82%
Year-over-year change: -13.49%

Total U.S. foreclosure pre-sale inventory rate: 0.78%
Month-over-month change: -2.96%
Year-over-year change: -27.96%

Total U.S. foreclosure starts: 53,300
Month-over-month change: -5.66%
Year-over-year change: -13.05%

Monthly Prepayment Rate (SMM): 1.01%
Month-over-month change: -9.59%
Year-over-year change: -19.94%

Foreclosure Sales as % of 90+: 1.96%
Month-over-month change: -10.85%
Year-over-year change: -1.48%

Number of properties that are 30 or more days past due, but not in foreclosure:​ 1,986,000
Month-over-month change: 54,000
Year-over-year change: -300,000

Number of properties that are 90 or more days past due, but not in foreclosure: ​555,000
Month-over-month change: 0
Year-over-year change: -140,000

Number of properties in foreclosure pre-sale inventory: ​398,000
Month-over-month change: -12,000
Year-over-year change: -152,000

Number of properties that are 30 or more days past due or in foreclosure: ​2,384,000
Month-over-month change: 42,000
Year-over-year change: -452,000

Top 5 States by Non-Current* Percentage
Mississippi: 10.45%                       
Louisiana: 8.77%             
Alabama: 7.23%             
West Virginia: 7.01%             
Maine: 6.59%                                     

Bottom 5 States by Non-Current* Percentage
Montana: 2.72%
Oregon: 2.62%                         
Minnesota: 2.53%
North Dakota: 2.30%
Colorado: 2.18%

Top 5 States by 90+ Days Delinquent Percentage
Mississippi: 3.10%             
Louisiana: 2.48%             
Alabama: 2.09%             
Arkansas: 1.88%             
Tennessee: 1.65%                                                             

Top 5 States by 6-Month Improvement in Non-Current* Percentage
District of Columbia: -15.06%                      
Oregon: -14.61%                      
New Jersey: -14.10%                      
Florida: -12.57%                      
Nevada: -12.35%                                                                                                                      

Top 5 States by 6-Month Deterioration in Non-Current* Percentage
Alaska: 1.36%             
North Dakota: 0.57%             
South Dakota: -4.37%            
Montana: -5.05%            
Colorado: -6.87%                                    
                                     
*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/20170824.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 Sept. 11, 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.

For more information:

Michelle Kersch
904.854.5043
[email protected] 

Mitch Cohen
646.926.7741
[email protected]