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- Nationally, delinquencies remained relatively flat from July, while delinquencies in Hurricane Harvey- impacted areas rose by 16 percent month over month
- Despite most payments being due August 1, and the storm making landfall near the end of the month, its effect on mortgage delinquencies is already being felt
- Over 6,700 new 30-day delinquencies can be attributed to Harvey, while an additional 1,000 borrowers who were already 30-days past due missed an additional mortgage payment in August as a result of the storm
- Based on observations from previous hurricanes, the heaviest impact on mortgage delinquency rates will come in September
JACKSONVILLE, Fla., Sept. 21, 2017 -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE:BKFS) reports the following “first look” at August 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): 3.93%
Month-over-month change: 0.72%
Year-over-year change: -7.27%
Total U.S. foreclosure pre-sale inventory rate: 0.76%
Month-over-month change: -3.27%
Year-over-year change: -27.23%
Total U.S. foreclosure starts: 54,700
Month-over-month change: 2.63%
Year-over-year change: -20.49%
Monthly Prepayment Rate (SMM): 1.13%
Month-over-month change: 11.47%
Year-over-year change: -32.23%
Foreclosure Sales as % of 90+: 2.12%
Month-over-month change: 7.98%
Year-over-year change: -1.64%
Number of properties that are 30 or more days past due, but not in foreclosure: 2,003,000
Month-over-month change: 17,000
Year-over-year change: -148,000
Number of properties that are 90 or more days past due, but not in foreclosure: 557,000
Month-over-month change: 2,000
Year-over-year change: -112,000
Number of properties in foreclosure pre-sale inventory: 385,000
Month-over-month change: -13,000
Year-over-year change: -142,000
Number of properties that are 30 or more days past due or in foreclosure: 2,389,000
Month-over-month change: 5,000
Year-over-year change: -289,000
| Top 5 States by Non-Current* Percentage | ||
| Mississippi: | 10.47 | % |
| Louisiana: | 8.82 | % |
| Alabama: | 7.22 | % |
| West Virginia: | 6.95 | % |
| Maine: | 6.52 | % |
| Bottom 5 States by Non-Current* Percentage | ||
| Montana: | 2.69 | % |
| Oregon: | 2.58 | % |
| Minnesota: | 2.53 | % |
| North Dakota: | 2.31 | % |
| Colorado: | 2.11 | % |
| Top 5 States by 90+ Days Delinquent Percentage | ||
| Mississippi: | 3.11 | % |
| Louisiana: | 2.49 | % |
| Alabama: | 2.07 | % |
| Arkansas: | 1.93 | % |
| Tennessee: | 1.65 | % |
| Top 5 States by 6-Month Improvement in Non-Current* Percentage | ||
| Oregon: | -16.17 | % |
| District of Columbia: | -14.84 | % |
| New Jersey: | -14.31 | % |
| Hawaii: | -14.14 | % |
| Massachusetts: | -12.67 | % |
| Top 5 States by 6-Month Deterioration in Non-Current* Percentage | ||
| Alaska: | -0.95 | % |
| Texas: | -1.49 | % |
| North Dakota: | -2.60 | % |
| Nebraska: | -2.90 | % |
| South Dakota: | -4.29 | % |
*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/20170921.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 Oct. 2, 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 software, 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 software, 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]
