Black Knight’s First Look at October 2017 Mortgage Data: National Delinquency Rate Sees Second Consecutive Annual Rise as Impact from Hurricanes Continues
- October’s 4BPS increase in the national delinquency rate can be directly linked to continued hurricane impact, while delinquencies fell 14BPS in non-affected areas
- Though delinquencies were down in all states except Texas and Florida, in FEMA-declared Hurricanes Harvey and Irma disaster areas, they rose another 24 percent (186BPS) in October
- The most notable increase was in Florida, where delinquencies spiked 36 percent from September in hurricane-affected areas
- Over 229,000 past-due mortgages can now be attributed to Hurricanes Irma (163,000) and Harvey (66,000)
- Total non-current inventories in Florida and Texas (all loans 30 or more days past due or in foreclosure) have risen 79 and 30 percent, respectively, over the past six months
- Prepayment activity rebounded in October, up 17 percent month-over-month, but still 25 percent below last year’s level
- The inventory of loans in active foreclosure continues to improve, falling below 350,000 for the first time since 2006
JACKSONVILLE, Fla., Nov. 21, 2017 (GLOBE NEWSWIRE) -- The Data & Analytics division of Black Knight, Inc. (NYSE:BKI) reports the following “first look” at October 2017 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): 4.44%
Month-over-month change: 0.94%
Year-over-year change: 2.05%
Total U.S. foreclosure pre-sale inventory rate: 0. 68%
Month-over-month change: -2.84%
Year-over-year change: -31.42%
Total U.S. foreclosure starts: 50,200
Month-over-month change: 11.06%
Year-over-year change: -11.15%
Monthly Prepayment Rate (SMM): 1.12%
Month-over-month change: 16.80%
Year-over-year change: -25.05%
Foreclosure Sales as % of 90+: 1.69%
Month-over-month change: -3.43%
Year-over-year change: -0.49%
Number of properties that are 30 or more days past due, but not in foreclosure: 2,262,000
Month-over-month change: 17,000
Year-over-year change: 60,000
Number of properties that are 90 or more days past due, but not in foreclosure: 589,000
Month-over-month change: 13,000
Year-over-year change: -88,000
Number of properties in foreclosure pre-sale inventory: 348,000
Month-over-month change: -10,000
Year-over-year change: -156,000
Number of properties that are 30 or more days past due or in foreclosure: 2,610,000
Month-over-month change: 7,000
Year-over-year change: -96,000
| Top 5 States by Non-Current* Percentage | ||
| Mississippi: | 10.62% | |
| Florida: | 9.90% | |
| Louisiana: | 9.20% | |
| Alabama: | 7.33% | |
| Texas: | 7.32% | |
| Bottom 5 States by Non-Current* Percentage | ||
| Montana: | 2.59% | |
| Minnesota: | 2.51% | |
| Oregon: | 2.44% |
|
| North Dakota: | 2.32% |
|
| Colorado: | 2.11% |
|
| Top 5 States by 90+ Days Delinquent Percentage | ||
| Mississippi: | 3.19% | |
| Louisiana: | 2.59% | |
| Alabama: | 2.09% | |
| Arkansas: | 1.86% | |
| Florida: | 1.71% | |
| Top 5 States by 6-Month Improvement in Non-Current* Percentage | ||
| Oregon: | -16.05% | |
| New Jersey: | -13.33% | |
| Maine: | -11.46% | |
| District of Columbia: | -11.44% | |
| Washington: | -11.27% | |
| Top 5 States by 6-Month Deterioration in Non-Current* Percentage | ||
| Florida: | 78.71% | |
| Texas: | 29.78% | |
| Arkansas: | 0.17% | |
| Mississippi: | -0.13% | |
| Nebraska: | -0.27% | |
*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 at http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/20171121.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 Dec. 4, 2017.
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.
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 | |
| 904.854.5043 | 646.926.7741 | |
| michelle.kersch@bkfs.com | mitch@mprg.com |
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