Black Knight's First Look: Mortgage Delinquencies Continue Steady Improvement; Active Foreclosures Fall to Yet Another Record Low Entering Final Month of 2021

Rhea-AI Summary

Black Knight, Inc. (NYSE:BKI) released its November 2021 mortgage performance statistics, showing a continued improvement in U.S. loan delinquencies and foreclosures. The overall loan delinquency rate is 3.59%, down 4.11% month-over-month and 43.29% year-over-year. Foreclosure pre-sale inventory stands at 0.25%, reflecting a 24.16% yearly decline. Notably, foreclosure starts decreased to 3,700, marking a 15.91% year-over-year decrease. The prepayment rate also fell by 36.83% year-over-year. Statistics reveal significant regional variances in non-current percentages, with Louisiana at 7.95% and Utah at 2.38%.

Positive

• U.S. loan delinquency rate decreased to 3.59%, down 4.11% month-over-month.
• Foreclosure pre-sale inventory rate fell to 0.25%, a 24.16% decrease year-over-year.
• Foreclosure starts dropped to 3,700, 15.91% lower than the previous year.
• Prepayment rate reduced to 1.78%, with a 36.83% year-over-year decline.

Negative

• None.

JACKSONVILLE, Fla., Dec. 23, 2021 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at November 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): 3.59%
Month-over-month change: -4.11%
Year-over-year change: -43.29%

Total U.S. foreclosure pre-sale inventory rate: 0.25%
Month-over-month change: -4.32%
Year-over-year change: -24.16%

Total U.S. foreclosure starts: 3,700          
Month-over-month change: -7.5%
Year-over-year change: -15.91%

Monthly prepayment rate (SMM): 1.78%
Month-over-month change: -8.91%
Year-over-year change: -36.83%

Foreclosure sales as % of 90+: 0.26%
Month-over-month change: -3.44%
Year-over-year change: 298.10%

Number of properties that are 30 or more days past due, but not in foreclosure: 1,906,000
Month-over-month change: -80,000
Year-over-year change: -1,475,000

Number of properties that are 90 or more days past due, but not in foreclosure: 1,026,000
Month-over-month change: -80,000
Year-over-year change: -1,167,000

Number of properties in foreclosure pre-sale inventory: 132,000
Month-over-month change: -6,000
Year-over-year change: -44,000

Number of properties that are 30 or more days past due or in foreclosure: 2,039,000
Month-over-month change: -86,000
Year-over-year change: -1,518,000

Top 5 States by Non-Current* Percentage

Louisiana:	7.95%
Mississippi:	7.30%
West Virginia:	5.54%
Oklahoma:	5.44%
Alabama:	5.38%

Bottom 5 States by Non-Current* Percentage

Utah:	2.38%
California:	2.32%
Washington:	2.19%
Colorado:	2.19%
Idaho:	2. 03%

Top 5 States by 90+ Days Delinquent Percentage

Louisiana:	4.17%
Mississippi:	3.62%
Oklahoma:	2.77%
Maryland:	2.71%
Arkansas:	2.67%

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

Hawaii:	-46.97%
Nevada:	-35.56%
California:	-35.39%
Massachusetts:	-28.78%
Alaska:	-28.53%

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

Louisiana:	-1.52%
Iowa:	-11.57%
Kentucky:	-12.25%
Ohio:	-13.36%
West Virginia:	-13.52%

*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. Please note that Black Knight does not release an edition of the Mortgage Monitor report over the holidays and will return to its normal publishing schedule the first week of February 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 is the loan delinquency rate reported by Black Knight for November 2021?

The loan delinquency rate reported by Black Knight for November 2021 stands at 3.59%.

How did foreclosure starts change in November 2021 compared to the previous year?

Foreclosure starts in November 2021 decreased to 3,700, which is a 15.91% decrease year-over-year.

What was the foreclosure pre-sale inventory rate in November 2021?

The foreclosure pre-sale inventory rate in November 2021 was 0.25%, down 24.16% year-over-year.

What is the month-over-month change in the U.S. loan delinquency rate?

The month-over-month change in the U.S. loan delinquency rate is a decrease of 4.11%.

How much did the prepayment rate decline year-over-year in November 2021?

The prepayment rate declined by 36.83% year-over-year in November 2021.