Black Knight's First Look at October 2016 Mortgage Data: Foreclosure Starts Hit Lowest Level Since January 2005; Foreclosure Rate Falls Below One Percent for First Time Since July 2007
- October's 56,500 foreclosure starts is the lowest one-month total in nearly 12 years
- Delinquencies see modest seasonal increase in October; still down nine percent from last year
- Active foreclosure inventory continues to improve, just over 500,000 active foreclosure cases remain
- Prepayment activity down slightly from September but remains 37 percent above last year's level
JACKSONVILLE, Fla., Nov. 29, 2016 /PRNewswire/ -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) reports the following "first look" at October 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): 4.35%
Month-over-month change: 1.84%
Year-over-year change: -8.87%
Total U.S. foreclosure pre-sale inventory rate: 0.99%
Month-over-month change: -0.95%
Year-over-year change: -30.24%
Total U.S. foreclosure starts: 56,500
Month-over-month change: -8.43%
Year-over-year change: -22.81%
Monthly Prepayment Rate (SMM): 1.49%
Month-over-month change: -3.01%
Year-over-year change: 37.34%
Foreclosure Sales as % of 90+: 1.70%
Month-over-month change: -16.27%
Year-over-year change: -16.32%
Number of properties that are 30 or more days past due, but not in foreclosure: 2,202,000
Month-over-month change: 37,000
Year-over-year change: -214,000
Number of properties that are 90 or more days past due, but not in foreclosure: 677,000
Month-over-month change: 9,000
Year-over-year change: -143,000
Number of properties in foreclosure pre-sale inventory: 504,000
Month-over-month change: -5,000
Year-over-year change: -217,000
Number of properties that are 30 or more days past due or in foreclosure: 2,706,000
Month-over-month change: 32,000
Year-over-year change: -430,000
Top 5 States by Non-Current* Percentage |
|
Mississippi: |
11.23% |
Louisiana: |
10.18% |
New Jersey: |
8.15% |
Alabama: |
7.93% |
New York: |
7.85% |
Bottom 5 States by Non-Current* Percentage |
|
South Dakota: |
2.97% |
Montana: |
2.86% |
Minnesota: |
2.74% |
Colorado: |
2.43% |
North Dakota: |
2.22% |
Top 5 States by 90+ Days Delinquent Percentage |
|
Mississippi: |
3.43% |
Louisiana: |
3.05% |
Alabama: |
2.37% |
Arkansas: |
2.06% |
Tennessee: |
1.95% |
Top 5 States by 6-Month Improvement in Non-Current* Percentage |
|
Oregon: |
-11.23% |
Nevada: |
-10.70% |
Hawaii: |
-10.69% |
Washington: |
-10.35% |
New Jersey: |
-9.75% |
Top 5 States by 6-Month Deterioration in Non-Current* Percentage |
|
Wyoming: |
12.78% |
Louisiana: |
12.48% |
Nebraska: |
6.44% |
Michigan: |
5.11% |
Oklahoma: |
5.02% |
*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/20161129.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 Dec. 5, 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: |
|
Michelle Kersch |
Mitch Cohen |
904.854.5043 |
646.546.5103 |
Logo - http://photos.prnewswire.com/prnh/20150712/235391LOGO
SOURCE Black Knight Financial Services, Inc.
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