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Black Knight's First Look at September Mortgage Data: Post-'Brexit' Prepay Activity Remains Strong; Foreclosure Rate Falls to Nine-Year Low

October 25, 2016

- Despite declining from August, September saw the third highest prepayment rate in three years
- September's less-than-one-percent seasonal increase in the delinquency rate was relatively mild by historical standards
- At one percent, the rate of all mortgages that are in active foreclosure fell to its lowest point in nine years
- Non-current mortgage rates continue to struggle in oil states, with Alaska and Wyoming seeing the largest increases over the past six months

JACKSONVILLE, Fla., Oct. 25, 2016 /PRNewswire/ -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) reports the following "first look" at September 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): 4.27%
Month-over-month change: 0.74%
Year-over-year change: -12.24%

Total U.S. foreclosure pre-sale inventory rate: 1.00%
Month-over-month change: -3.38%
Year-over-year change: -31.23%

Total U.S. foreclosure starts: 61,700
Month-over-month change: -10.32%
Year-over-year change: -22.78%

Monthly Prepayment Rate (SMM): 1.54%
Month-over-month change: -7.59%
Year-over-year change: 43.22%

Foreclosure Sales as % of 90+: 2.03%
Month-over-month change: -5.82%
Year-over-year change: 2.47%

Number of properties that are 30 or more days past due, but not in foreclosure: 2,165,000
Month-over-month change: 14,000
Year-over-year change: -292,000

Number of properties that are 90 or more days past due, but not in foreclosure: 668,000
Month-over-month change: -1,000
Year-over-year change: -149,000

Number of properties in foreclosure pre-sale inventory: 509,000
Month-over-month change: -18,000
Year-over-year change: -228,000

Number of properties that are 30 or more days past due or in foreclosure: 2,674,000
Month-over-month change: -4,000
Year-over-year change: -520,000

Top 5 States by Non-Current* Percentage

Mississippi:   

11.16%

Louisiana:      

10.32%

New Jersey:    

8.13%

Alabama:        

7.85%

West Virginia: 

7.72%



Bottom 5 States by Non-Current* Percentage

South Dakota:

2.95%

Montana:        

2.88%

Minnesota:      

2.75%

Colorado:        

2.44%

North Dakota:

2.23%



Top 5 States by 90+ Days Delinquent Percentage

Mississippi:  

3.43%

Louisiana:     

2.80%

Alabama:       

2.33%

Arkansas:       

2.01%

Tennessee:      

1.94%



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

Hawaii:             

-12.72%

Nevada:          

-11.64%

Oregon:           

-11.47%

New Jersey:    

-10.46%

Washington:

-9.32%



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

Alaska:            

20.37%

Wyoming:     

18.91%

Louisiana:      

16.10%

North Dakota: 

10.67%

Michigan:        

8.49%

*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.

For a more detailed view of this month's "first look" data, please visit the Black Knight newsroom at http://www.blackknightcompanies.com/CorporateInformation/NewsRoom/Pages/20161025.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 November 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-knights-first-look-at-september-mortgage-data-post-brexit-prepay-activity-remains-strong-foreclosure-rate-falls-to-nine-year-low-300350466.html

SOURCE Black Knight Financial Services, Inc.

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