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Black Knight’s First Look: Continued Improvement Pushes Mortgage Delinquencies to New Record Low in May; Prepayment Activity Doubles Over Past Four Months
Black Knight, Inc. (NYSE: BKI) reports the following “first look” at May 2019 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): 3.36%
Month-over-month change: -3.03%
Year-over-year change: -7.50%
Total U.S. foreclosure pre-sale inventory rate: 0.49%
Month-over-month change: -1.65%
Year-over-year change: -17.38%
Total U.S. foreclosure starts: 39,000
Month-over-month change: -5.80%
Year-over-year change: -13.14%
Monthly prepayment rate (SMM): 1.23%
Month-over-month change: 24.31%
Year-over-year change: 32.17%
Foreclosure sales as % of 90+: 1.81%
Month-over-month change: 6.94%
Year-over-year change: -0.82%
Number of properties that are 30 or more days past due, but not in foreclosure: 1,760,000
Month-over-month change: -52,000
Year-over-year change: -107,000
Number of properties that are 90 or more days past due, but not in foreclosure: 461,000
Month-over-month change: -13,000
Year-over-year change: -107,000
Number of properties in foreclosure pre-sale inventory: 255,000
Month-over-month change: -4,000
Year-over-year change: -48,000
Number of properties that are 30 or more days past due or in foreclosure: 2,015,000
Month-over-month change: -57,000
Year-over-year change: -156,000
Top 5 States by Non-Current* Percentage
|
Mississippi: |
9.86% |
|
Louisiana: |
7.34% |
|
Alabama: |
6.37% |
|
West Virginia: |
5.94% |
|
Arkansas: |
5.64% |
Bottom 5 States by Non-Current* Percentage
|
California: |
2.15% |
|
Idaho: |
2.02% |
|
Washington: |
1.98% |
|
Oregon: |
1.91% |
|
Colorado: |
1.75% |
Top 5 States by 90+ Days Delinquent Percentage
|
Mississippi: |
3.05% |
|
Louisiana: |
1.93% |
|
Alabama: |
1.86% |
|
Arkansas: |
1.68% |
|
Tennessee: |
1.30% |
Top 5 States by 6-Month Improvement in Non-Current* Percentage
|
Idaho: |
-20.85% |
|
North Dakota: |
-19.04% |
|
Kentucky: |
-17.73% |
|
Iowa: |
-15.90% |
|
Oregon: |
-15.86% |
Top 5 States by 6-Month Deterioration in Non-Current* Percentage
|
Alaska: |
9.70% |
|
New York: |
-0.70% |
|
Nebraska: |
-1.72% |
|
Maryland: |
-2.38% |
|
Delaware: |
-3.06% |
*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 July 1, 2019.
SOURCE Black Knight, Inc.
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