Black Knight’s First Look at March 2017 Mortgage Data: Delinquency Rate Drops to 11-Year Low; Prepayments Up 20 Percent from February’s Three-Year Low

By GlobeNewswire,  April 21, 2017, 09:00:00 AM EDT

Black Knight's First Look at March 2017 Mortgage Data: Delinquency Rate Drops to 11-Year Low; Prepayments Up 20 Percent from February's Three-Year Low


  • Delinquencies declined 14 percent month-over-month, hitting their lowest level since March 2006 and the fourth lowest point since the turn of the century

  • Total non-current inventory - all loans 30 days or more past due or in active foreclosure - fell below 2.3 million, the lowest volume in 11 years
  • After hitting a three-year low in February, prepayment speeds (historically a good indicator of refinance activity) rose 20 percent in March; still 26 percent below last year's level
  • Foreclosure starts were up 4.15 percent for the month, but Q1 2017's 189,000 starts represented an 18 percent decline from Q1 2016

JACKSONVILLE, Fla., April 21, 2017 (GLOBE NEWSWIRE) -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE:BKFS) reports the following "first look" at March 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): 3.62%

Month-over-month change: -14.08%

Year-over-year change: -11.40%

Total U.S. foreclosure pre-sale inventory rate: 0.88%

Month-over-month change: -4.60%

Year-over-year change: -29.15%

Total U.S. foreclosure starts: 60,300

Month-over-month change: 4.15%

Year-over-year change: -17.17%

Monthly Prepayment Rate (SMM): 0.96%

Month-over-month change: 20.03%

Year-over-year change: -25.98%

Foreclosure Sales as % of 90+: 2.29%

Month-over-month change: 22.59%

Year-over-year change: 4.74%

Number of properties that are 30 or more days past due, but not in foreclosure: 1,831,000

Month-over-month change: -304,000

Year-over-year change: -231,000

Number of properties that are 90 or more days past due, but not in foreclosure: 589,000

Month-over-month change: -52,000

Year-over-year change: -144,000

Number of properties in foreclosure pre-sale inventory: 448,000

Month-over-month change: -22,000

Year-over-year change: -183,000

Number of properties that are 30 or more days past due or in foreclosure: 2,279,000

Month-over-month change: -326,000

Year-over-year change: -414,000

Top 5 States by Non-Current* Percentage

Mississippi: 9.70%

Louisiana: 8.46%             

Alabama: 6.87%             

New Jersey: 6.64%             

West Virginia: 6.56%                         

Bottom 5 States by Non-Current* Percentage

Idaho: 2.63%             

Montana: 2.57%             

Minnesota: 2.36%

North Dakota: 2.09%

Colorado: 2.06%

Top 5 States by 90+ Days Delinquent Percentage

Mississippi: 3.12%             

Louisiana: 2.76%             

Alabama: 2.17%             

Arkansas: 1.89%

Tennessee: 1.73%

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

New Jersey: -18.27%                      

Louisiana: -18.01%                      

Washington: -17.69%                      

Nebraska: -17.25%                      

Michigan: -17.12%

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

North Dakota:  -6.33%            

Hawaii: -9.43%            

Alaska: -9.83%            

South Dakota: -9.90%            

Maine: -10.41%

                         

*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 Financial Services' 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/20170421.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 May 1, 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 Financial Services, Inc.

Black Knight Financial Services, Inc. (NYSE:BKFS) is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.

Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com

For more information:

Michelle Kersch
904.854.5043
michelle.kersch@bkfs.comMitch Cohen
646.546.5103
mitch@mprg.com

Source: Black Knight Financial Services, Inc.

This article appears in: News Headlines

Referenced Stocks: BKFS


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