Black Knight Financial Services' First Look at July Mortgage Data: Delinquencies Continue Seasonal Climb; Prepayments Defy Historically Low Interest Rates, Growing Refinanceable Population

- Delinquency rate rose to just over 4.5 percent, though July ending on a Sunday suggests a historically likely August decline

- Prepayment activity fell in July despite overall growth in the number of refinance candidates and 30-year interest rates remaining at or below 3.45 percent for much of the month

- July foreclosure starts fell 12 percent from last month, marking the second lowest monthly total in 10 years

- Foreclosure inventory continues to decline as well, now down 20 percent from the start of 2016 and to its lowest point since July 2007

News provided by

Black Knight Financial Services, Inc.

Aug 22, 2016, 09:00 ET

JACKSONVILLE, Fla., Aug. 22, 2016 /PRNewswire/ -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) reports the following "first look" at July 2016 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): 4.51%
Month-over-month change: 4.78%
Year-over-year change: -3.38%

Total U.S. foreclosure pre-sale inventory rate: 1.09%
Month-over-month change: -1.68%
Year-over-year change: -28.36%

Total U.S. foreclosure starts: 61,300
Month-over-month change: -11.54%
Year-over-year change: -14.27%

Monthly Prepayment Rate (SMM): 1.26%
Month-over-month change: -11.98%
Year-over-year change: -1.00%

Foreclosure Sales as % of 90+: 1.99%
Month-over-month change: -13.65%
Year-over-year change: 1.05%

Number of properties that are 30 or more days past due, but not in foreclosure: 2,286,000
Month-over-month change: 108,000
Year-over-year change: -70,000

Number of properties that are 90 or more days past due, but not in foreclosure: 695,000
Month-over-month change: 3,000
Year-over-year change: -147,000

Number of properties in foreclosure pre-sale inventory: 550,000
Month-over-month change: -8,000
Year-over-year change: -214,000

Number of properties that are 30 or more days past due or in foreclosure: 2,836,000
Month-over-month change: 100,000
Year-over-year change: -284,000

Top 5 States by Non-Current* Percentage

Mississippi:	11.67%
Louisiana:	9.63%
New Jersey:	8.95%
West Virginia:	8.34%
Alabama:	8.21%

Bottom 5 States by Non-Current* Percentage

South Dakota:	3.13%
Montana:	3.13%
Minnesota:	2.92%
Colorado:	2.71%
North Dakota:	2.56%

Top 5 States by 90+ Days Delinquent Percentage

Mississippi:	3.56%
Louisiana:	2.69%
Alabama:	2.45%
Arkansas:	2.06%
Tennessee:	2.04%

Top 5 States by 6-Month Improvement in Non-Current* Percentage

Nevada:	-17.28%
Nebraska:	-15.41%
Florida:	-15.33%
Washington:	-15.13%
Oregon:	-14.91%

Top 5 States by 6-Month Deterioration in Non-Current* Percentage

North Dakota:	6.21%
Alaska:	4.72%
Wyoming:	2.27%
Louisiana:	-8.21%
Vermont:	-9.23%

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
Notes:

Totals are extrapolated based on Black Knight Financial Services' loan-level database of mortgage assets.
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/20160822.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. 6, 2016.

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), a Fidelity National Financial (NYSE: FNF) company, 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.