Black Knight's First Look: Strong April Mortgage Performance Pushes National Delinquency Rate to New Record Low; Prepayment Activity Continues to Rise
-- Following a slow start to the year, the national delinquency rate fell by more than 5% month-over-month; at 3.47%, it is now at its lowest level on record dating back to 2000
-- Serious delinquencies - loans 90 or more days past due, but not yet in foreclosure - fell to 474,000, marking a 124,000 year-over-year decline and a 12-year low
-- While monthly foreclosure starts edged up slightly from March's 18-year low, the number of loans in active foreclosure continued to shrink, hitting a more than 13-year low in April
-- Prepayment activity continues to press upward, driven by a combination of low interest rates and seasonal increases in home sale activity
-- The prepayment rate on first-lien mortgages rose 17% from March, bringing the three-month aggregate increase to 67%
JACKSONVILLE, Fla., May 21, 2019 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at April 2019 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): 3.47%
Month-over-month change: -5.05%
Year-over-year change: -5.41%
Total U.S. foreclosure pre-sale inventory rate: 0.50%
Month-over-month change: -2.23%
Year-over-year change: -18.77%
Total U.S. foreclosure starts: 41,400
Month-over-month change: 4.28%
Year-over-year change: -16.02%
Monthly prepayment rate (SMM): 0.99%
Month-over-month change: 17.54%
Year-over-year change: 17.65%
Foreclosure sales as % of 90+: 1.69%
Month-over-month change: 2.36%
Year-over-year change: 5.00%
Number of properties that are 30 or more days past due, but not in foreclosure: 1,812,000
Month-over-month change: -91,000
Year-over-year change: -73,000
Number of properties that are 90 or more days past due, but not in foreclosure: 474,000
Month-over-month change: -19,000
Year-over-year change: -124,000
Number of properties in foreclosure pre-sale inventory: 259,000
Month-over-month change: -5,000
Year-over-year change: -55,000
Number of properties that are 30 or more days past due or in foreclosure: 2,072,000
Month-over-month change: -96,000
Year-over-year change: -127,000
Top 5 States by Non-Current* Percentage |
|
Mississippi: |
9.95% |
Louisiana: |
7.67% |
Alabama: |
6.60% |
West Virginia: |
6.13% |
Arkansas: |
5.73% |
Bottom 5 States by Non-Current* Percentage |
|
North Dakota: |
2.24% |
Idaho: |
2.18% |
Washington: |
2.04% |
Oregon: |
2.03% |
Colorado: |
1.78% |
Top 5 States by 90+ Days Delinquent Percentage |
|
Mississippi: |
3.06% |
Louisiana: |
2.00% |
Alabama: |
1.88% |
Arkansas: |
1.70% |
Tennessee: |
1.33% |
Top 5 States by 6-Month Improvement in Non-Current* Percentage |
|
North Carolina: |
-9.72% |
Washington: |
-9.40% |
Florida: |
-8.33% |
Iowa: |
-7.96% |
Hawaii: |
-7.85% |
Top 5 States by 6-Month Deterioration in Non-Current* Percentage |
|
Alaska: |
14.96% |
South Dakota: |
6.07% |
Montana: |
0.25% |
Oregon: |
0.15% |
Maine: |
-0.32% |
*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 June 3, 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.
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