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Black Knight's First Look: Mortgage Delinquencies Rebound Strongly in October; Number of Seriously Past-Due Loans Falls Below 500,000 for First Time Since 2006

November 27, 2018
- After rising sharply in September, mortgage delinquencies fell by 8.2 percent in October and are now down by nearly 18 percent from the same time last year
- Serious delinquencies - loans 90 or more days past due - fell by 14,000 from last month and 90,000 from last October to hit a more than 12-year low
- Improvements in hurricane-related delinquencies associated with Harvey and Irma - which spiked in late 2017 - are contributing to the strong year-over-year improvements
- Despite foreclosure starts seeing a monthly increase from September's nearly 18-year low, the number of loans in active foreclosure fell slightly from September and has decreased by 24 percent from last year
- Prepayment activity - now driven primarily by housing turnover - climbed 14 percent, but remains 29 percent below last year's level

JACKSONVILLE, Fla., Nov. 27, 2018 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at October 2018 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Black Knight, Inc. Logo (PRNewsfoto/Black Knight, Inc.)

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.64%
Month-over-month change: -8.19%
Year-over-year change: -17.93%

Total U.S. foreclosure pre-sale inventory rate: 0.52%
Month-over-month change: -0.54%
Year-over-year change: -24.24%

Total U.S. foreclosure starts: 50,600
Month-over-month change: 26.50%
Year-over-year change: 0.80%

Monthly prepayment rate (SMM): 0.80%
Month-over-month change: 13.59%
Year-over-year change: -28.67%

Foreclosure sales as % of 90+: 1.95%
Month-over-month change: 27.74%
Year-over-year change: 15.32%

Number of properties that are 30 or more days past due, but not in foreclosure: 1,884,000
Month-over-month change: -165,000
Year-over-year change: -378,000

Number of properties that are 90 or more days past due, but not in foreclosure: 499,000
Month-over-month change: -14,000
Year-over-year change: -90,000

Number of properties in foreclosure pre-sale inventory: 267,000
Month-over-month change: -1,000
Year-over-year change: -81,000

Number of properties that are 30 or more days past due or in foreclosure: 2,152,000
Month-over-month change: -165,000
Year-over-year change: -458,000

Top 5 States by Non-Current* Percentage

Mississippi:

10.00%

Louisiana:

7.89%

Alabama:

6.76%

West Virginia:

6.25%

Arkansas:

6.05%



Bottom 5 States by Non-Current* Percentage

North Dakota:

2.30%

Idaho:

2.26%

Washington:

2.25%

Oregon:

2.03%

Colorado:

1.81%



Top 5 States by 90+ Days Delinquent Percentage

Mississippi:

2.94%

Louisiana:

2.06%

Alabama:

1.88%

Arkansas:

1.80%

Tennessee:

1.39%



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

Florida:

-28.92%

Alaska:

-17.15%

Oregon:

-7.70%

Texas:

-7.52%

New Jersey:

-7.03%



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

Nebraska:

23.90%

Iowa:

14.32%

North Carolina:

12.45%

Arkansas:

11.55%

Minnesota:

10.44%

                       

*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 Dec. 10, 2018.

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

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

michelle.kersch@bkfs.com  

mitch.cohen@bkfs.com

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SOURCE Black Knight, Inc.

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