Black Knight’s First Look at September 2017 Mortgage Data: Hurricanes Irma and Harvey Drive Surge in Past-Due Mortgages

• Nationally, the number of non-current mortgages (those at least 30 days past-due or in active foreclosure) jumped by 214,000 (+9 percent), driven primarily by fallout from Hurricanes Harvey and Irma
• FEMA-declared hurricane disaster areas accounted for the bulk of the increases; non-current inventory rose by 84,000 (+48 percent) in Irma disaster areas and 52,000 (+67 percent) in those related to Harvey
• Prior to the hurricanes, Texas and Florida ranked 20^th and 22^nd among states by non-current mortgage rates; after the storms, they now rank 3^rd and 5^th respectively
• Primarily as a result of hurricane impact, September saw the first annual rise in mortgage delinquencies (borrowers at least 30 days past-due but not yet in active foreclosure) since July 2010
• Monthly foreclosure starts were at their lowest in more than 17 years, with starts down as much as 90 percent in areas covered by post-hurricane foreclosure action moratoria

JACKSONVILLE, Fla., Oct. 19, 2017 -- The Data & Analytics division of Black Knight, Inc. (NYSE:BKI) reports the following “first look” at September 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):​ 4.40%
Month-over-month change: 11.85%
Year-over-year change: 2.96%

Total U.S. foreclosure pre-sale inventory rate: 0.70%
Month-over-month change: -7.17%
Year-over-year change: -30.08%

Total U.S. foreclosure starts: 45,200
Month-over-month change: -17.37%
Year-over-year change: -26.74%

Monthly Prepayment Rate (SMM): 0.96%
Month-over-month change: -15.13%
Year-over-year change: -37.76%

Foreclosure Sales as % of 90+: 1.75%
Month-over-month change: -17.39%
Year-over-year change: -13.72%

Number of properties that are 30 or more days past due, but not in foreclosure: ​ 2,245,000
Month-over-month change: 242,000
Year-over-year change: 80,000

Number of properties that are 90 or more days past due, but not in foreclosure: ​ 576,000
Month-over-month change: 19,000
Year-over-year change: -92,000

Number of properties in foreclosure pre-sale inventory: ​ 358,000
Month-over-month change: -27,000
Year-over-year change: -151,000

Number of properties that are 30 or more days past due or in foreclosure: ​ 2,603,000
Month-over-month change: 214,000
Year-over-year change: -71,000

*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 at http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/20171019.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 Nov. 6, 2017.

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 is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.

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
646.926.7741
[email protected]