Black Knight Financial Services' "First Look" at April Mortgage Data: Slight Seasonal Increase in Early Delinquency Rate; Foreclosure Inventory Continues Decline

JACKSONVILLE, Fla., May 22, 2014 /PRNewswire/ -- The Data and Analytics division of Black Knight Financial Services (formerly the LPS Data & Analytics division) reports the following "first look" at April 2014 month-end mortgage performance statistics derived from its loan-level database representing approximately two-thirds of the overall market.

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure):​ 5.62%
Month-over-month change: 1.84%
Year-over-year change: -9.50%

Total U.S. foreclosure pre-sale inventory rate:​ 2.02%
Month-over-month change: -5.00%
Year-over-year change: -36.13%

Total U.S. foreclosure starts: 78,800
Month-over-month change: -10.56%
Year-over-year change: -38.20%

Monthly Prepayment Rate (SMM): 0.87%
Month-over-month change: 8.75%
Year-over-year change: -54.57%

Foreclosure Sales as % of 90+: 1.96%
Month-over-month change: 7.17%
Year-over-year change: -11.41%

Number of properties that are 30 or more days past due, but not in foreclosure:​ 2,821,000
Month-over-month change: 51,000
Year-over-year change: -290,000

Number of properties that are 90 or more days past due, but not in foreclosure:​ 1,187,000
Month-over-month change: -12,000
Year-over-year change: -207,000

Number of properties in foreclosure pre-sale inventory: ​1,016,000
Month-over-month change: -54,000
Year-over-year change: -572,000

Number of properties that are 30 or more days past due or in foreclosure: 3,837,000
Month-over-month change: -3,000
Year-over-year change: -862,000

Top 5 States by Non-Current* Percentage
Mississippi: 13.81%
New Jersey: 12.87%
Florida: 11.69%
New York: 11.01%
Louisiana: 10.75%

Bottom 5 States by Non-Current* Percentage
Montana: 3.97%
Alaska: 3.91%
Colorado: 3.85%
South Dakota: 3.45%
North Dakota: 2.57%

Top 5 States by 90+ Days Delinquent Percentage
Mississippi: 5.21%
Nevada: 3.92%
Rhode Island: 3.73%
Alabama: 3.58%
Massachusetts: 3.54%

Top 5 States by 6-Month Improvement in Non-Current* Percentage
Florida: -20.14%
Nevada: -20.12%
Illinois: -16.73%
Arizona: -16.61%
California: -16.49%

Top 5 States by 6-Month Deterioration in Non-Current* Percentage
Alaska: -1.88%
New Hampshire: -6.66%
Vermont: -6.75%
Maine: -6.92%
Louisiana: -7.16%

*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 Financial Services' 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 100.

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 in-depth charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available online at http://www.lpsvcs.com/LPSCorporateInformation/CommunicationCenter/DataReports/Pages/Mortgage-Monitor.aspx by June 2, 2014.

To view and download graphics for the results in this release, go to: http://www.bkfs.com/CorporateInformation/CommunicationCenter/DataReports/MortgageMonitor/FirstLook_2014-04_data/BKFS_First_Look_2014-04_data_Tables.pdf

For more information about gaining access to Black Knight's loan-level database, please send an e-mail to [email protected].

About Black Knight Financial Services, LLC

Black Knight Financial Services, a Fidelity National Financial (NYSE:FNF) company, is the mortgage and finance industries' leading provider of integrated technology, data and analytics solutions. Comprised of technology offerings from the union of LPS and ServiceLink, Black Knight Financial Services offers leading software systems; data and analytics offerings; and information solutions that facilitate and automate many of the business processes across the mortgage life cycle.

Black Knight Financial Services helps clients in the mortgage industry and beyond achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.

SOURCE Black Knight Financial Services

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