Black Knight: Overall Mortgage Delinquencies Edge Closer to Pre-Pandemic Levels, But 1.45M Remain Seriously Past Due as Foreclosure Moratorium Expired at End of July

Rhea-AI Summary

Black Knight, Inc. (NYSE:BKI) reported its April 2021 mortgage performance statistics, indicating a total loan delinquency rate of 4.14%, reflecting a 5.22% month-over-month decrease and a significant 40.06% year-over-year reduction. Foreclosure rates also showed improvement, with a 0.26% inventory rate, a 3.99% drop from the previous month and a 25.93% decline from last year. Despite positive trends, 1.45 million homes remain seriously delinquent as the foreclosure moratorium ends.

Positive

• Total U.S. loan delinquency rate decreased by 5.22% month-over-month.
• Year-over-year loan delinquency rate down by 40.06%.
• Foreclosure pre-sale inventory rate down by 3.99% month-over-month and 25.93% year-over-year.
• Foreclosure starts decreased by 4.55% month-over-month and 57.58% year-over-year.

Negative

• 1.45 million homes remain seriously past due, highlighting ongoing risk.

JACKSONVILLE, Fla., Aug. 20, 2021 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at April 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): 4.14%
Month-over-month change: -5.22%
Year-over-year change: -40.06%

Total U.S. foreclosure pre-sale inventory rate: 0.26%
Month-over-month change: -3.99%
Year-over-year change: -25.93%

Total U.S. foreclosure starts: 4,200 
Month-over-month change:  -4.55%
Year-over-year change: -57.58%

Monthly prepayment rate (SMM): 2.04%
Month-over-month change: -10.68%
Year-over-year change: -25.37%

Foreclosure sales as % of 90+: 0.17%
Month-over-month change: 40.66%
Year-over-year change: 210.45%

Number of properties that are 30 or more days past due, but not in foreclosure: 2,206,000
Month-over-month change: -114,000
Year-over-year change: -1,486,000

Number of properties that are 90 or more days past due, but not in foreclosure: 1,447,000
Month-over-month change: -103,000
Year-over-year change: -803,000

Number of properties in foreclosure pre-sale inventory: 140,000
Month-over-month change: -5,000
Year-over-year change: -50,000

Number of properties that are 30 or more days past due or in foreclosure: 2,346,000
Month-over-month change: -120,000
Year-over-year change: -1,535,000

Top 5 States by Non-Current* Percentage

Mississippi:                    7.66%
Louisiana:                      6.93%
Hawaii:                           6.09%
Oklahoma:                     5.93%
West Virginia:                5.83%   

Bottom 5 States by Non-Current* Percentage

Montana:                         2.79%
Washington:                    2.68%
Utah:                               2.66%
Colorado:                        2.57%
Idaho:                              2.20%

Top 5 States by 90+ Days Delinquent Percentage

Mississippi:                       4.57%
Louisiana:                         4.18%
Hawaii:                              3.83%
Maryland:                          3.81%
Alaska:                              3.80%                                                                                   

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

Nevada:                              -33.24%
Rhode Island:                     -33.14%
Florida:                               -32.52%
Arizona:                              -32.48%
Hawaii:                               -32.17%                                                                               

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

District of Columbia:          -18.74%
Minnesota:                         -21.60%
Nebraska:                          -21.94%
Wisconsin:                         -22.86%
Iowa:                                  -22.95%                                                                                               

*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 Wednesday, September 8, 2021.

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 is the current loan delinquency rate reported by Black Knight for April 2021?

The loan delinquency rate for April 2021 is 4.14%.

How did the foreclosure inventory rate change in April 2021?

The foreclosure pre-sale inventory rate decreased to 0.26%, a drop of 3.99% month-over-month.

What are the year-over-year changes in mortgage performance statistics reported by BKI?

Loan delinquency is down 40.06%, foreclosure pre-sale inventory down 25.93%, and foreclosure starts down 57.58%.

How many properties are seriously delinquent according to Black Knight's report?

There are 1.45 million homes that are seriously past due.

What insights does Black Knight provide regarding state-by-state mortgage performance?

The report includes the top and bottom states by non-current percentages and those showing improvement or deterioration.