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Black Knight Financial Services' First Look at January Mortgage Data: Delinquencies Up Sharply; Prepayment Rate Drops

February 22, 2016

- Delinquency rate up 6.6 percent in January; back above 5 percent nationally for the first time in 11 months
- Prepayment rate (historically a good indicator of refinance activity) drops 29 percent to its lowest level since February 2014
- Foreclosure sales (completions) up nearly 16 percent following holiday moratoriums
- Active foreclosure inventory continues to decline; down 26 percent from last year

JACKSONVILLE, Fla., Feb. 22, 2016 /PRNewswire/ -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) reports the following "first look" at January 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): 5.09%
Month-over-month change: 6.62%
Year-over-year change: -7.10%

Total U.S. foreclosure pre-sale inventory rate: 1.30%
Month-over-month change: -4.53%
Year-over-year change: -25.69%

Total U.S. foreclosure starts: 71,900
Month-over-month change: -7.94%
Year-over-year change: -22.94%

Monthly Prepayment Rate (SMM): 0.81%
Month-over-month change: -28.67%
Year-over-year change: -7.88%

Foreclosure Sales as % of 90+: 2.17%
Month-over-month change: 15.61%
Year-over-year change: 24.76%

Number of properties that are 30 or more days past due, but not in foreclosure: 2,575,000
Month-over-month change: 167,000
Year-over-year change: -189,000

Number of properties that are 90 or more days past due, but not in foreclosure: 831,000
Month-over-month change: 23,000
Year-over-year change: -229,000

Number of properties in foreclosure pre-sale inventory: 659,000
Month-over-month change: -30,000
Year-over-year change: -226,000

Number of properties that are 30 or more days past due or in foreclosure: 3,234,000
Month-over-month change: 137,000
Year-over-year change: -415,000

Top 5 States by Non-Current* Percentage

Mississippi:        13.00%            
Louisiana:          10.49%            
New Jersey:       10.38%            
Alabama:             9.25%              
West Virginia:      9.19%                          

Bottom 5 States by Non-Current* Percentage

South Dakota:    3.50%
Minnesota:         3.29%
Alaska:              3.24%
Colorado:           3.03%
North Dakota:     2.41%

Top 5 States by 90+ Days Delinquent Percentage

Mississippi:        4.11%              
Louisiana:          2.95%              
Alabama:           2.86%              
Maine:               2.55%
Tennessee:        2.42%  

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

Oregon:             -4.73%             
Washington       -4.42%             
Nevada:             -3.57%             
Florida:              -3.51%             
Hawaii:              -2.01%                                                             

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

North Dakota:    14.54%
West Virginia:    11.71%
Arizona:              9.74%              
Virginia:              9.57%
California:            9.42%  

*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 Financial Services' 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 at http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/20160222.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 March 7, 2016.

For more information about gaining access to Black Knight's loan-level database, please send an email to dataanalyticsinfo@bkfs.com.

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

michelle.kersch@bkfs.com   

mitch@mprg.com

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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/black-knight-financial-services-first-look-at-january-mortgage-data-delinquencies-up-sharply-prepayment-rate-drops-300223130.html

SOURCE Black Knight Financial Services, Inc.

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