PR Newswire | Jul 22, 2020 09:01AM EDT

Since January, While Serious Delinquencies Surge to 9-Year High

07/22 08:00 CDT

Black Knight's First Look: Mortgage Delinquencies Improve for the First Time Since January, While Serious Delinquencies Surge to 9-Year High- After rising from 3.2% in January to 7.8% in May, the national delinquency rate improved for the first time in five months, falling to 7.6% in June as the overall number of past-due mortgages declined by 98,000- Serious delinquencies - those 90 or more days past due - rose by more than 1.2 million as the initial wave of borrowers financially impacted by COVID-19 missed their third mortgage payment- At 1.87 million, the number of seriously delinquent mortgages is now at its highest level since early 2011- With federal foreclosure moratoriums still in place, active foreclosure inventory continues to dwindle; June's 192,000 active foreclosures were the fewest on record, dating back to 2000- Prepayment activity hit its highest level in 16 years in June, fueled by record-low 30-year interest rates and surging refinance incentive JACKSONVILLE, Fla., July 22, 2020

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* PercentageMississippi: 12.46% Louisiana: 11.71% New York: 10.90% New Jersey: 10.63%Hawaii: 10.28%

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

Top 5 States by 90+ Days Delinquent PercentageMississippi: 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* PercentageMississippi: 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* PercentageAlaska: 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 KnightBlack 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.