Black Knight's First Look: Expanded and Enhanced Market Data Shows Mortgage Delinquency Improvement Across the Board in January, Uptick in Foreclosure Starts
Black Knight (NYSE:BKI) has expanded its McDash loan-level mortgage data set, enhancing public performance metrics to analyze over 200M active and historical mortgages. This comprehensive data now includes contributions from over 80 servicers, providing deeper insights into nonbank and smaller portfolios. The enhanced reporting also incorporates eMBS agency securities data, reflecting a more accurate mortgage landscape. In January, the national delinquency rate decreased by 10 basis points month-over-month and 15.1% year-over-year, showing improvement overall, while foreclosure starts rose by 17%, remaining significantly below pre-pandemic levels.
- Improved reporting with expanded McDash data set for over 200M mortgages.
- National delinquency rate decreased by 10 basis points month-over-month.
- Delinquencies down 15.1% year-over-year.
- Enhanced visibility into nonbank and smaller servicing portfolios.
- Incorporated eMBS agency securities data for precise market sizing.
- Foreclosure starts increased by 17% in January, marking the fourth consecutive rise.
- Active foreclosures are up 20% since January 2022, still below pre-pandemic levels.
- With this month's First Look,
Black Knight begins applying its expanded McDash loan-level mortgage data set – already available to clients and contributors – to its public performance metrics reporting - The enhanced reporting provides additional insight into more than 200M active and historical loan-level mortgage records for even more granular and representative analyses of today's complex market
- With more than 80 contributors, McDash has even greater coverage of nonbanks and smaller servicing portfolios, providing insight into those loans' performance that was previously difficult to extract
- The addition of
Black Knight's eMBS agency securities data enables more precise market sizing, providing unprecedented clarity into performance across an active mortgage universe of some 52M loans - With full history and all performance metrics updated to
January 2000 , the data enhancements will provide even more informativeBlack Knight public reporting moving forward - January performance data showed a slight decrease (-10 basis points) in the national delinquency rate month-over-month, which is now down
15.1% year over year - Foreclosure starts saw a fourth straight increase, but remain
37% below pre-pandemic levels; active foreclosures are up20% sinceJanuary 2022 , but they too remain nearly20% below pre-pandemic levels - As purchase and refinance lending continue to face interest rate headwinds, prepayment activity hit yet another record low in January, dating back to at least 2000 when
Black Knight began reporting the metric
"McDash was already the mortgage and capital markets sectors' go-to source for loan-level performance metrics on the majority of the market, contributed directly by the nation's largest servicers," said
Delinquencies were down across the board in January, with the overall national delinquency rate declining 10 basis points to
Foreclosure starts rose
Graboske added: "Given the fundamental changes we've seen in the market's makeup – even before the pandemic – and as the industry and wider economy move ahead into an uncertain future, this additional visibility couldn't come at a more important time. Our role as a public provider of objective and unvarnished housing and mortgage market data and analysis is something we take very seriously. We've been through enough boom-and-bust cycles in the mortgage industry to understand just how critical this role is – to our industry, as well to the public, the media and the wider American economy."
For this month's full First Look press release, including tables and trendlines, please visit us here.
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
For more information about these updates, please read our blog post on the subject. For more information about gaining access to
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