Black Knight's First Look: Number of Seriously Past-Due Loans Continues to Improve, Though Long Holiday Weekend Drives Up May's Overall Delinquency Rate

Rhea-AI Summary

On June 23, 2021, Black Knight, Inc. (NYSE:BKI) released its May 2021 mortgage performance statistics, indicating a total U.S. loan delinquency rate of 4.73%, up 1.51% month-over-month but down 39.05% year-over-year. The foreclosure pre-sale inventory rate decreased to 0.28% (-2.46% MoM, -26.14% YoY), with 3,800 foreclosure starts, down 25.49% YoY. The monthly prepayment rate dropped to 2.15%, a 16.88% decline from last month. Notably, Mississippi has the highest non-current rate at 8.56%.

Positive

• Year-over-year loan delinquency rates improved by 39.05%.
• Foreclosure pre-sale inventory decreased by 26.14% YoY.

Negative

• Monthly delinquency rate increased by 1.51%.
• Monthly prepayment rate decreased by 16.88%.

JACKSONVILLE, Fla., June 23, 2021 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at May 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): 4.73%
Month-over-month change: 1.51%
Year-over-year change: -39.05%

Total U.S. foreclosure pre-sale inventory rate: 0.28%
Month-over-month change: -2.46%
Year-over-year change: -26.14%

Total U.S. foreclosure starts: 3,800          
Month-over-month change:  2.70%
Year-over-year change: -25.49%

Monthly prepayment rate (SMM): 2.15%
Month-over-month change: -16.88%
Year-over-year change: -6.26%

Foreclosure sales as % of 90+: 0.12%
Month-over-month change: -12.01%
Year-over-year change: 38.92%

Number of properties that are 30 or more days past due, but not in foreclosure: 2,511,000
Month-over-month change: 11,000
Year-over-year change: -1,612,000

Number of properties that are 90 or more days past due, but not in foreclosure: 1,669,000
Month-over-month change: -99,000
Year-over-year change: 1,038,000

Number of properties in foreclosure pre-sale inventory: 148,000
Month-over-month change: -5,000
Year-over-year change: -52,000

Number of properties that are 30 or more days past due or in foreclosure: 2,659,000
Month-over-month change: 6,000
Year-over-year change: -1,665,000

Top 5 States by Non-Current* Percentage
Mississippi:	8.56%
Louisiana:	8.07%
Hawaii:	7.08%
Oklahoma:	6.76%
Maryland:	6.64%

                                            

Bottom 5 States by Non-Current* Percentage
Montana:	3.20%
Utah:	3.05%
Washington:	3.02%
Colorado:	2.98%
Idaho:	2.52%

 

Top 5 States by 90+ Days Delinquent Percentage
Mississippi:	5.21%
Louisiana:	5.00%
Hawaii:	4.57%
Nevada:	4.53%
Maryland:	4.39%

                                                                  

Top 5 States by 6-Month Improvement in Non-Current* Percentage
Utah:	-30.89%
Colorado:	-28.83%
Florida:	-28.38%
New Jersey:	-27.97%
Arizona:	-27.68%

                                                                          

Top 5 States by 6-Month Deterioration in Non-Current* Percentage
District of Columbia:	-14.32%
Maryland:	-18.92%
Oklahoma:	-19.07%
Minnesota:	-19.99%
Vermont:	-20.11%

*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 July 7, 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.

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SOURCE Black Knight, Inc.

FAQ

What are the latest mortgage delinquency statistics from Black Knight (BKI) as of June 2021?

The total U.S. loan delinquency rate is 4.73%, a 1.51% increase month-over-month but a 39.05% decrease year-over-year.

What does the foreclosure pre-sale inventory rate indicate for Black Knight (BKI)?

The foreclosure pre-sale inventory rate is 0.28%, down 2.46% month-over-month and down 26.14% year-over-year.

How many foreclosure starts occurred in May 2021 for Black Knight (BKI)?

There were 3,800 foreclosure starts in May 2021, representing a 25.49% decrease year-over-year.

What is the monthly prepayment rate reported by Black Knight (BKI) for May 2021?

The monthly prepayment rate is 2.15%, which is a 16.88% decline from the previous month.

Which state has the highest non-current percentage according to Black Knight (BKI)?

Mississippi has the highest non-current percentage at 8.56%.