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Black Knight's First Look: Delinquency Rate Entering 2019 Lowest of Any Year Since the Turn of the Century

January 23, 2019
- Despite rising seasonally in recent months, only 3.9 percent of mortgages were delinquent as of December month-end, the lowest year-end total since Black Knight began reporting the figure in 2000
- The national foreclosure rate, while also edging seasonally upward in December, posted the lowest year-end figure since 2005, with just 0.52 percent of mortgages in active foreclosure
- Foreclosure starts edged slightly upward with 46,300 starts reported for the month, a 2.4 percent uptick over November
- Foreclosure starts were also up 4 percent year-over-year in December, though this increase was primarily driven by suppressed foreclosure start volumes in late 2017 due to hurricane-related moratoriums
- Prepayments remained nearly unchanged in December, holding near the 10-year low set in November

JACKSONVILLE, Fla., Jan. 23, 2019 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI) reports the following "first look" at December 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): 3.88%
Month-over-month change: 4.71%
Year-over-year change: -17.55%

Total U.S. foreclosure pre-sale inventory rate: 0.52%
Month-over-month change: 1.19%
Year-over-year change: -19.23%

Total U.S. foreclosure starts: 46,300
Month-over-month change: 2.43%
Year-over-year change: 4.04%

Monthly prepayment rate (SMM): 0.66%
Month-over-month change: 0.03%
Year-over-year change: -29.02%

Foreclosure sales as % of 90+: 1.38%
Month-over-month change: -22.47%
Year-over-year change: 12.29%

Number of properties that are 30 or more days past due, but not in foreclosure: 2,013,000
Month-over-month change: 88,000
Year-over-year change: -399,000

Number of properties that are 90 or more days past due, but not in foreclosure: 511,000
Month-over-month change: 1,000
Year-over-year change: -215,000

Number of properties in foreclosure pre-sale inventory: 271,000
Month-over-month change: 3,000
Year-over-year change: -60,000

Number of properties that are 30 or more days past due or in foreclosure: 2,283,000
Month-over-month change: 90,000
Year-over-year change: -460,000

Top 5 States by Non-Current* Percentage

Mississippi:                 

10.09%












Louisiana:                   

8.13%












Alabama:                    

6.95%












West Virginia:             

6.69%












Arkansas:                    

6.29%




































Bottom 5 States by Non-Current* Percentage

North Dakota:             

2.46%












Idaho:                         

2.32%












Washington:                

2.28%












Oregon:                       

2.12%












Colorado:                    

1.90%




































Top 5 States by 90+ Days Delinquent Percentage

Mississippi:                 

3.06%












Louisiana:                   

2.08%












Alabama:                    

1.91%












Arkansas:                    

1.84%












North Carolina:                       

1.42%




































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

Florida:                                   

-12.37%












Wyoming:                   

-5.00%












Tennessee:                  

-4.72%












Alaska:                       

-4.24%












Utah:                           

-2.97%




































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

District of Columbia:  

20.96%












Nebraska:                   

20.38%












Illinois:                       

18.52%












Arkansas:                    

11.15%












North Carolina:                       

10.53%












                       

*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 Feb. 4, 2019.

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