Black Knight's First Look: Delinquency Rate Entering 2019 Lowest of Any Year Since the Turn of the Century
- Despite rising seasonally in recent months, only 3.9 percent of mortgages were delinquent as of December month-end, the lowest year-end total since Black Knight began reporting the figure in 2000
- The national foreclosure rate, while also edging seasonally upward in December, posted the lowest year-end figure since 2005, with just 0.52 percent of mortgages in active foreclosure
- Foreclosure starts edged slightly upward with 46,300 starts reported for the month, a 2.4 percent uptick over November
- Foreclosure starts were also up 4 percent year-over-year in December, though this increase was primarily driven by suppressed foreclosure start volumes in late 2017 due to hurricane-related moratoriums
- Prepayments remained nearly unchanged in December, holding near the 10-year low set in November
JACKSONVILLE, Fla., Jan. 23, 2019 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) reports the following "first look" at December 2018 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): 3.88%
Month-over-month change: 4.71%
Year-over-year change: -17.55%
Total U.S. foreclosure pre-sale inventory rate: 0.52%
Month-over-month change: 1.19%
Year-over-year change: -19.23%
Total U.S. foreclosure starts: 46,300
Month-over-month change: 2.43%
Year-over-year change: 4.04%
Monthly prepayment rate (SMM): 0.66%
Month-over-month change: 0.03%
Year-over-year change: -29.02%
Foreclosure sales as % of 90+: 1.38%
Month-over-month change: -22.47%
Year-over-year change: 12.29%
Number of properties that are 30 or more days past due, but not in foreclosure: 2,013,000
Month-over-month change: 88,000
Year-over-year change: -399,000
Number of properties that are 90 or more days past due, but not in foreclosure: 511,000
Month-over-month change: 1,000
Year-over-year change: -215,000
Number of properties in foreclosure pre-sale inventory: 271,000
Month-over-month change: 3,000
Year-over-year change: -60,000
Number of properties that are 30 or more days past due or in foreclosure: 2,283,000
Month-over-month change: 90,000
Year-over-year change: -460,000
Top 5 States by Non-Current* Percentage |
||||||||||||
Mississippi: |
10.09% |
|||||||||||
Louisiana: |
8.13% |
|||||||||||
Alabama: |
6.95% |
|||||||||||
West Virginia: |
6.69% |
|||||||||||
Arkansas: |
6.29% |
|||||||||||
Bottom 5 States by Non-Current* Percentage |
||||||||||||
North Dakota: |
2.46% |
|||||||||||
Idaho: |
2.32% |
|||||||||||
Washington: |
2.28% |
|||||||||||
Oregon: |
2.12% |
|||||||||||
Colorado: |
1.90% |
|||||||||||
Top 5 States by 90+ Days Delinquent Percentage |
||||||||||||
Mississippi: |
3.06% |
|||||||||||
Louisiana: |
2.08% |
|||||||||||
Alabama: |
1.91% |
|||||||||||
Arkansas: |
1.84% |
|||||||||||
North Carolina: |
1.42% |
|||||||||||
Top 5 States by 6-Month Improvement in Non-Current* Percentage |
||||||||||||
Florida: |
-12.37% |
|||||||||||
Wyoming: |
-5.00% |
|||||||||||
Tennessee: |
-4.72% |
|||||||||||
Alaska: |
-4.24% |
|||||||||||
Utah: |
-2.97% |
|||||||||||
Top 5 States by 6-Month Deterioration in Non-Current* Percentage |
||||||||||||
District of Columbia: |
20.96% |
|||||||||||
Nebraska: |
20.38% |
|||||||||||
Illinois: |
18.52% |
|||||||||||
Arkansas: |
11.15% |
|||||||||||
North Carolina: |
10.53% |
*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.
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 https://www.blackknightinc.com/data-reports/ by Feb. 4, 2019.
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 (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.
As a leading fintech, 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 |
Mitch Cohen |
Black Knight, Inc |
Black Knight, Inc |
904.854.5043 |
704.890.8158 |
SOURCE Black Knight, Inc.
Related Links
https://www.blackknightinc.com
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article