Black Knight Financial Services' "First Look" at September Mortgage Data: Foreclosure Inventory Lowest Since February 2008; Delinquencies Decline
- Delinquent inventory declines by 117,000, nearly reversing August increase
- Foreclosure starts rise nearly 12 percent in September
- Seriously delinquent inventory (90 or more days past due) lowest since August 2008
- Foreclosure inventory down over 400,000 since last year
JACKSONVILLE, Fla., Oct. 24, 2014 /PRNewswire/ -- The Data and Analytics division of Black Knight Financial Services reports the following "first look" at September 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): 5.67% |
| Month-over-month change: -3.90% |
| Year-over-year change: -12.22% |
| Total U.S. foreclosure pre-sale inventory rate: 1.76% |
| Year-over-year change: -33.02% |
| Total U.S. foreclosure starts: 91,000 |
| Month-over-month change: 11.52% |
| Year-over-year change: -16.51% |
| Monthly Prepayment Rate (SMM): 0.94% |
| Month-over-month change: -1.96% |
| Year-over-year change: -10.25% |
| Foreclosure Sales as % of 90+: 1.80% |
| Month-over-month change: 4.60% |
| Year-over-year change: -13.04% |
| Number of properties that are 30 or more days past due, but not in foreclosure: 2,878,000 |
| Month-over-month change: -117,000 |
| Year-over-year change: -388,000 |
| Number of properties that are 90 or more days past due, but not in foreclosure: 1,118,000 |
| Month-over-month change: -25,000 |
| Year-over-year change: -213,000 |
| Number of properties in foreclosure pre-sale inventory: 893,000 |
| Month-over-month change: -20,000 |
| Year-over-year change: -435,000 |
| Number of properties that are 30 or more days past due or in foreclosure: 3,771,000 |
| Month-over-month change: -137,000 |
| Year-over-year change: -822,000 |
| Top 5 States by Non-Current* Percentage |
| Mississippi: 14.41% |
| New Jersey: 12.17% |
| Louisiana: 11.16% |
| New York: 10.76% |
| Florida: 10.55% |
| Bottom 5 States by Non-Current* Percentage |
| Minnesota: 4.03% |
| Montana: 3.89% |
| Colorado: 3.72% |
| South Dakota: 3.64% |
| North Dakota: 2.43% |
| Top 5 States by 90+ Days Delinquent Percentage |
| Mississippi: 5.34% |
| Alabama: 3.60% |
| Rhode Island: 3.53% |
| Louisiana: 3.52% |
| Massachusetts: 3.26% |
| Top 5 States by 6-Month Improvement in Non-Current* Percentage |
| Florida: -12.81% |
| Nevada: -12.34% |
| Hawaii: -11.01% |
| District of Columbia: -9.19% |
| Oregon: -8.88% |
| Top 5 States by 6-Month Deterioration in Non-Current* Percentage |
| West Virginia: 11.25% |
| Alaska: 9.64% |
| Wyoming: 8.38% |
| Mississippi: 7.60% |
| South Dakota: 6.05% |
*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.
For a more detailed view of this month's "first look" data, please visit the Black Knight newsroom at http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/20141024.aspx
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.bkfs.com/CorporateInformation/NewsRoom/Pages/pressreleases.aspx by Nov. 3, 2014.
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 that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight Financial Services is committed to being the premier business partner that lenders and servicers rely on to 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/black-knight-financial-services-first-look-at-september-mortgage-data-foreclosure-inventory-lowest-since-february-2008-delinquencies-decline-900174748.html
SOURCE Black Knight Financial Services
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