Home  >  Investors  >  Press Releases  >  Press Release Details

Press Release Details



View all news

Black Knight Financial Services' First Look at June Mortgage Data: Foreclosure Starts Up for Second Consecutive Month; Prepays Rise on Historically Low Rates

July 26, 2016

- Despite June's increase, first-time foreclosure starts in Q2 2016 were at their lowest level in over 16 years
- Prepayment speeds (historically a good indicator of refinance activity) jumped to a 12-month high, mirroring an overall rise in refinance activity driven by historically low interest rates
- Early-stage delinquencies saw a seasonal increase in June, while 90-day delinquencies and foreclosure inventories continued to decline
- Non-current rates up from six months ago in Wyoming, North Dakota and Alaska, as oil and gas woes impact mortgage performance

JACKSONVILLE, Fla., July 26, 2016 /PRNewswire/ -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) reports the following "first look" at June 2016 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Total U.S. foreclosure pre-sale inventory rate: 1.10%
Month-over-month change: -2.57%
Year-over-year change: -29.35%

Total U.S. foreclosure starts: 69,300
Month-over-month change: 11.59%
Year-over-year change: -11.27%

Monthly Prepayment Rate (SMM): 1.44%
Month-over-month change: 10.30%
Year-over-year change: 3.24%

Foreclosure Sales as % of 90+: 2.31%
Month-over-month change: 13.54%
Year-over-year change: 20.65%

Number of properties that are 30 or more days past due, but not in foreclosure: 2,178,000
Month-over-month change: 25,000
Year-over-year change: -237,000

Number of properties that are 90 or more days past due, but not in foreclosure: 692,000
Month-over-month change: -27,000
Year-over-year change: -161,000

Number of properties in foreclosure pre-sale inventory: 558,000
Month-over-month change: -16,000
Year-over-year change: -231,000

Number of properties that are 30 or more days past due or in foreclosure: 2,736,000
Month-over-month change: 9,000
Year-over-year change: -468,000

Top 5 States by Non-Current* Percentage

Mississippi:

11.19%

Louisiana:

9.18%

New Jersey:

8.81%

Alabama:

7.97%

Maine:

7.83%


Bottom 5 States by Non-Current* Percentage

Montana:

3.04%

South Dakota:

3.04%

Minnesota:

2.78%

Colorado:

2.60%

North Dakota:

2.39%


Top 5 States by 90+ Days Delinquent Percentage

Mississippi:

3.56%

Louisiana:

2.65%

Alabama:

2.44%

Arkansas:

2.09%

Tennessee:

2.02%


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

Nevada:

-16.09%

Washington:

-15.91%

Florida:

-15.79%

Arizona:

-14.27%

Oregon:

-13.90%


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

Alaska:

12.75%

North Dakota:

10.49%

Wyoming:

4.18%

Vermont:

-6.69%

Louisiana:

-7.29%


*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/20160726.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 Aug. 1, 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

im

mitch@mprg.com

Logo - http://photos.prnewswire.com/prnh/20150712/235391LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/black-knight-financial-services-first-look-at-june-mortgage-data-foreclosure-starts-up-for-second-consecutive-month-prepays-rise-on-historically-low-rates-300303857.html

SOURCE Black Knight Financial Services, Inc.

Categories: Press Releases
View all news