Black Knight's First Look: Mortgage Delinquencies Improve for the First Time Since January, While Serious Delinquencies Surge to 9-Year High

Rhea-AI Summary

Black Knight (NYSE:BKI) released its June 2020 mortgage performance statistics, indicating a total U.S. loan delinquency rate of 7.59%. This shows a 2.25% month-over-month improvement but a 103.55% increase year-over-year. Foreclosure pre-sale inventory decreased by 4.21% month-over-month to 0.36%, with foreclosure starts at 5,900, a 15.69% rise month-over-month, but down 85.29% from the previous year. Serious delinquency rates and properties 90+ days past due have surged, indicating ongoing stress in the mortgage market.

Positive

• U.S. loan delinquency rate decreased by 2.25% month-over-month.
• Foreclosure pre-sale inventory rate down 4.21% month-over-month.
• Monthly prepayment rate increased by 15.93% month-over-month.

Negative

• Total U.S. loan delinquency rate increased by 103.55% year-over-year.
• Foreclosure starts rose by 15.69% month-over-month.
• Number of properties 90+ days past due increased by 1,243,000 month-over-month.

JACKSONVILLE, Fla., July 22, 2020 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at June 2020 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): 7.59%
Month-over-month change: -2.25%
Year-over-year change: 103.55%

Total U.S. foreclosure pre-sale inventory rate: 0.36%
Month-over-month change: -4.21%
Year-over-year change: -27.08%

Total U.S. foreclosure starts: 5,900
Month-over-month change: 15.69%
Year-over-year change: -85.29%

Monthly prepayment rate (SMM): 2.65%
Month-over-month change: 15.93 %
Year-over-year change: 133.69%

Foreclosure sales as % of 90+: 0.05%
Month-over-month change: -46.47%
Year-over-year change: -97.30%

Number of properties that are 30 or more days past due, but not in foreclosure: 4,034,000
Month-over-month change: -89,000
Year-over-year change: 2,084,000

Number of properties that are 90 or more days past due, but not in foreclosure: 1,874,000
Month-over-month change: 1,243,000
Year-over-year change: 1,419,000

Number of properties in foreclosure pre-sale inventory: 192,000
Month-over-month change: -8,000
Year-over-year change: -67,000

Number of properties that are 30 or more days past due or in foreclosure: 4,226,000
Month-over-month change: -98,000
Year-over-year change: 2,017,000

Top 5 States by Non-Current* Percentage
Mississippi:                  12.46%
Louisiana:                    11.71%
New York:                    10.90%
New Jersey:                 10.63%
Hawaii:                         10.28%                                               

Bottom 5 States by Non-Current* Percentage
Oregon:                        5.17%
South Dakota:              5.12%
Montana:                      5.07%
Washington:                 4.82%
Idaho:                           4.37%

Top 5 States by 90+ Days Delinquent Percentage
Mississippi:                  5.73%
Louisiana:                    5.32%
New Jersey:                 5.32%
New York:                    5.10%
Nevada:                       4.90%                                                                         

Top 5 States by 6-Month Improvement in Non-Current* Percentage
Mississippi:                   24.69%
West Virginia:               26.78%
Arkansas:                     29.09%
Alabama:                      38.19%
Indiana:                        38.59%                                                                       

Top 5 States by 6-Month Deterioration in Non-Current* Percentage
Alaska:                        243.29%
Nevada:                       237.45%
California:                    223.42%
Colorado:                     214.63%
Hawaii:                        184.14%                                                                     

*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 Aug. 3, 2020.

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 (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.

As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.

 

For more information:
Michelle Kersch				Mitch Cohen
Black Knight, Inc.				Black Knight, Inc.
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 BKI?

The total U.S. loan delinquency rate reported by Black Knight is 7.59%.

How much did foreclosure starts change in June 2020 according to BKI?

Foreclosure starts increased by 15.69% month-over-month, totaling 5,900.

What is the year-over-year change for U.S. loan delinquency rate as per BKI?

The year-over-year change for the U.S. loan delinquency rate is an increase of 103.55%.