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Black Knight's First Look: Strong April Mortgage Performance Pushes National Delinquency Rate to New Record Low; Prepayment Activity Continues to Rise

May 21, 2019
-- Following a slow start to the year, the national delinquency rate fell by more than 5% month-over-month; at 3.47%, it is now at its lowest level on record dating back to 2000
-- Serious delinquencies - loans 90 or more days past due, but not yet in foreclosure - fell to 474,000, marking a 124,000 year-over-year decline and a 12-year low
-- While monthly foreclosure starts edged up slightly from March's 18-year low, the number of loans in active foreclosure continued to shrink, hitting a more than 13-year low in April
-- Prepayment activity continues to press upward, driven by a combination of low interest rates and seasonal increases in home sale activity
-- The prepayment rate on first-lien mortgages rose 17% from March, bringing the three-month aggregate increase to 67%

JACKSONVILLE, Fla., May 21, 2019 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at April 2019 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): 3.47%
Month-over-month change: -5.05%
Year-over-year change: -5.41%

Total U.S. foreclosure pre-sale inventory rate: 0.50%
Month-over-month change: -2.23%
Year-over-year change: -18.77%

Total U.S. foreclosure starts: 41,400
Month-over-month change: 4.28%
Year-over-year change: -16.02%

Monthly prepayment rate (SMM): 0.99%
Month-over-month change: 17.54%
Year-over-year change: 17.65%

Foreclosure sales as % of 90+: 1.69%
Month-over-month change: 2.36%
Year-over-year change: 5.00%

Number of properties that are 30 or more days past due, but not in foreclosure: 1,812,000
Month-over-month change: -91,000
Year-over-year change: -73,000

Number of properties that are 90 or more days past due, but not in foreclosure: 474,000
Month-over-month change: -19,000
Year-over-year change: -124,000

Number of properties in foreclosure pre-sale inventory: 259,000
Month-over-month change: -5,000
Year-over-year change: -55,000

Number of properties that are 30 or more days past due or in foreclosure: 2,072,000
Month-over-month change: -96,000
Year-over-year change: -127,000

Top 5 States by Non-Current* Percentage

Mississippi:

9.95%

Louisiana:

7.67%

Alabama:

6.60%

West Virginia:

6.13%

Arkansas:

5.73%

 

Bottom 5 States by Non-Current* Percentage

North Dakota:

2.24%

Idaho:

2.18%

Washington:

2.04%

Oregon:

2.03%

Colorado:

1.78%

 

Top 5 States by 90+ Days Delinquent Percentage 

Mississippi:

3.06%

Louisiana: 

2.00%

Alabama:

1.88%

Arkansas:

1.70%

Tennessee:

1.33%

 

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

North Carolina:

-9.72%

Washington: 

-9.40%

Florida:

-8.33%

Iowa:

-7.96%

Hawaii:

-7.85%

 

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

Alaska:

14.96%

South Dakota:

6.07%

Montana:

0.25%

Oregon:

0.15%

Maine:

-0.32%

*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 June 3, 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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