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Black Knight Financial Services' First Look at March 2016 Mortgage Data: Delinquencies at Lowest Level in Nine Years; 30-Day Delinquency Rate Lowest Since Pre-2000

April 22, 2016

-- National delinquency rate fell 8 percent in March; at 4.08 percent, it is at its lowest point since March 2007
-- At just under 2 percent, the rate of 30-day delinquencies is at lowest level in over 15 years
-- Spurred by declining interest rates, prepayment speeds (historically a good indicator of refinance activity) were up 46 percent from one month ago
-- Foreclosure starts were down 14 percent from February; still driven primarily by repeat foreclosure activity

JACKSONVILLE, Fla., April 22, 2016 /PRNewswire/ -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) reports the following "first look" at March 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): 4.08%
Month-over-month change: -8.37%
Year-over-year change: -12.42%

Total U.S. foreclosure pre-sale inventory rate: 1.25%
Month-over-month change: -3.69%
Year-over-year change: -25.59%

Total U.S. foreclosure starts: 72,800
Month-over-month change: -13.64%
Year-over-year change: -21.04%

Monthly Prepayment Rate (SMM): 1.30%
Month-over-month change: 46.03%
Year-over-year change: -16.90%

Foreclosure Sales as % of 90+: 2.18%
Month-over-month change: 17.30%
Year-over-year change: 12.67%

Number of properties that are 30 or more days past due, but not in foreclosure: 2,062,000
Month-over-month change: -190,000
Year-over-year change: -287,000

Number of properties that are 90 or more days past due, but not in foreclosure: 733,000
Month-over-month change: -39,000
Year-over-year change: -193,000

Number of properties in foreclosure pre-sale inventory: 631,000
Month-over-month change: -24,000
Year-over-year change: -215,000

Number of properties that are 30 or more days past due or in foreclosure: 2,693,000
Month-over-month change: -214,000
Year-over-year change: -502,000

Top 5 States by Non-Current* Percentage
Mississippi:      10.80%
New Jersey:      9.07%             
Louisiana:         8.89%
New York         7.87%
Maine              7.77%             

Bottom 5 States by Non-Current* Percentage
Alaska:            2.85%
South Dakota:  2.74%
Minnesota:       2.64%
Colorado:         2.53%
North Dakota:   2.02%

Top 5 States by 90+ Days Delinquent Percentage
Mississippi:      3.65%             
Louisiana:        2.73%             
Alabama:         2.58%             
Arkansas:        2.21%
Rhode Island    2.16%             

Top 5 States by 6-Month Improvement in Non-Current* Percentage
Nebraska:        -21.25%                      
Michigan:         -20.98%                      
South Dakota:  -20.16%                      
Alaska:            -19.51%                      
Indiana:           -19.25%                                                                                              

Top 5 States by 6-Month Deterioration in Non-Current* Percentage
California:                   -7.47%            
North Dakota:             -7.95%            
Hawaii:                       -9.27%            
District of Columbia:    -11.28% 
Wyoming:                   -11.82%                                  

*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/20160422.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 May 2, 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

 

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/black-knight-financial-services-first-look-at-march-2016-mortgage-data-delinquencies-at-lowest-level-in-nine-years-30-day-delinquency-rate-lowest-since-pre-2000-300255934.html

SOURCE Black Knight Financial Services, Inc.

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