Black Knight Financial Services' First Look at March 2016 Mortgage Data: Delinquencies at Lowest Level in Nine Years; 30-Day Delinquency Rate Lowest Since Pre-2000
-- National delinquency rate fell 8 percent in March; at 4.08 percent, it is at its lowest point since March 2007
-- At just under 2 percent, the rate of 30-day delinquencies is at lowest level in over 15 years
-- Spurred by declining interest rates, prepayment speeds (historically a good indicator of refinance activity) were up 46 percent from one month ago
-- Foreclosure starts were down 14 percent from February; still driven primarily by repeat foreclosure activity
JACKSONVILLE, Fla., April 22, 2016 /PRNewswire/ -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) reports the following "first look" at March 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): 4.08%
Month-over-month change: -8.37%
Year-over-year change: -12.42%
Total U.S. foreclosure pre-sale inventory rate: 1.25%
Month-over-month change: -3.69%
Year-over-year change: -25.59%
Total U.S. foreclosure starts: 72,800
Month-over-month change: -13.64%
Year-over-year change: -21.04%
Monthly Prepayment Rate (SMM): 1.30%
Month-over-month change: 46.03%
Year-over-year change: -16.90%
Foreclosure Sales as % of 90+: 2.18%
Month-over-month change: 17.30%
Year-over-year change: 12.67%
Number of properties that are 30 or more days past due, but not in foreclosure: 2,062,000
Month-over-month change: -190,000
Year-over-year change: -287,000
Number of properties that are 90 or more days past due, but not in foreclosure: 733,000
Month-over-month change: -39,000
Year-over-year change: -193,000
Number of properties in foreclosure pre-sale inventory: 631,000
Month-over-month change: -24,000
Year-over-year change: -215,000
Number of properties that are 30 or more days past due or in foreclosure: 2,693,000
Month-over-month change: -214,000
Year-over-year change: -502,000
Top 5 States by Non-Current* Percentage
Mississippi: 10.80%
New Jersey: 9.07%
Louisiana: 8.89%
New York 7.87%
Maine 7.77%
Bottom 5 States by Non-Current* Percentage
Alaska: 2.85%
South Dakota: 2.74%
Minnesota: 2.64%
Colorado: 2.53%
North Dakota: 2.02%
Top 5 States by 90+ Days Delinquent Percentage
Mississippi: 3.65%
Louisiana: 2.73%
Alabama: 2.58%
Arkansas: 2.21%
Rhode Island 2.16%
Top 5 States by 6-Month Improvement in Non-Current* Percentage
Nebraska: -21.25%
Michigan: -20.98%
South Dakota: -20.16%
Alaska: -19.51%
Indiana: -19.25%
Top 5 States by 6-Month Deterioration in Non-Current* Percentage
California: -7.47%
North Dakota: -7.95%
Hawaii: -9.27%
District of Columbia: -11.28%
Wyoming: -11.82%
*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/20160422.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 May 2, 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.
For more information: |
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Michelle Kersch |
Mitch Cohen |
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904.854.5043 |
646.546.5103 |
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SOURCE Black Knight Financial Services, Inc.
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