Black Knight: 2021 Ends With Foreclosures at All-Time Low and Near Record-Low Delinquency Rate; Serious Delinquencies Still More than 2X Pre-Pandemic Levels

Rhea-AI Summary

Black Knight, Inc. (NYSE:BKI) released December 2021 mortgage performance metrics, indicating a total U.S. loan delinquency rate of 3.38%, reflecting a 5.88% month-over-month drop and a 44.46% year-over-year decrease. The foreclosure pre-sale inventory rate is 0.24%, with a 3.80% month-over-month decline and 27.98% year-over-year decline. Foreclosure starts totaled 4,100, up 10.81% from the previous month but down 42.25% year-over-year. Overall, serious delinquencies remain more than twice pre-pandemic levels.

Positive

• U.S. loan delinquency rate fell to 3.38%, down 44.46% year-over-year.
• Foreclosure pre-sale inventory rate decreased to 0.24%, marking a 27.98% decline year-over-year.

Negative

• Serious delinquencies still exceed pre-pandemic levels, indicating ongoing risks in the mortgage market.

JACKSONVILLE, Fla., Jan. 21, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at December 2021 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): 3.38%
Month-over-month change: -5.88%
Year-over-year change: -44.46%

Total U.S. foreclosure pre-sale inventory rate: 0.24%
Month-over-month change: -3.80%
Year-over-year change: -27.98%

Total U.S. foreclosure starts: 4,100
Month-over-month change: 10.81%
Year-over-year change: -42.25%

Monthly prepayment rate (SMM): 1.65%
Month-over-month change: -7.31%
Year-over-year change: -47.60%

Foreclosure sales as % of 90+: 0.29%
Month-over-month change: 12.07%
Year-over-year change: 324.16%

Number of properties that are 30 or more days past due, but not in foreclosure: 1,799,000
Month-over-month change: -107,000
Year-over-year change: -1,452,000

Number of properties that are 90 or more days past due, but not in foreclosure: 946,000
Month-over-month change: -80,000
Year-over-year change: -1,200,000

Number of properties in foreclosure pre-sale inventory: 128,000
Month-over-month change: -4,000
Year-over-year change: -50,000

Number of properties that are 30 or more days past due or in foreclosure: 1,927,000
Month-over-month change: -112,000
Year-over-year change: -1,502,000

Top 5 States by Non-Current* Percentage
Louisiana:                             7.06%
Mississippi:                           6.91%
West Virginia:                        5.37%
Alabama:                               5.11%
Oklahoma:                             5.08%                                                   

Bottom 5 States by Non-Current* Percentage
Utah:                                    2.20%
California:                             2.13%
Washington:                         2.03%
Colorado:                              2.02%
Idaho:                                   1.85%

Top 5 States by 90+ Days Delinquent Percentage
Louisiana:                             3.84%
Mississippi:                           3.41%
Oklahoma:                            2.55%
Alabama:                              2.52%
Arkansas:                             2.50%                                                                                   

Top 5 States by 6-Month Improvement in Non-Current* Percentage
Hawaii:                                 -46.54%
Nevada:                               -35.61%
California:                            -34.04%
Vermont:                              -27.62%
Washington:                        -27.28%

Top 5 States by 6-Month Deterioration in Non-Current* Percentage
Louisiana:                             -4.65%
Michigan:                              -8.74%
Indiana:                                -8.97%
Ohio:                                    -12.09%
West Virginia:                      -12.10%                                       

*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. 7, 2022. 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, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.

Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.

For more information:
Michelle Kersch	Mitch Cohen
904.854.5043	704.890.8158
michelle.kersch@bkfs.com	mitch.cohen@bkfs.com

 

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SOURCE Black Knight, Inc.

FAQ

What was the U.S. loan delinquency rate reported by Black Knight in December 2021?

The U.S. loan delinquency rate was 3.38% in December 2021.

How much did the U.S. foreclosure starts increase month-over-month in December 2021?

Foreclosure starts increased by 10.81% month-over-month to a total of 4,100.

What is the year-over-year change in the total U.S. foreclosure pre-sale inventory rate?

The total U.S. foreclosure pre-sale inventory rate decreased by 27.98% year-over-year.

How did the monthly prepayment rate change in December 2021?

The monthly prepayment rate dropped to 1.65%, a decrease of 7.31% month-over-month and 47.60% year-over-year.

Which states had the highest non-current percentage in December 2021?

The top five states by non-current percentage were Louisiana (7.06%), Mississippi (6.91%), West Virginia (5.37%), Alabama (5.11%), and Oklahoma (5.08%).