Black Knight Financial Services: New Jersey’s November Foreclosures/Delinquencies Second Highest in Nation

On Dec 30, 2014

The Data and Analytics division of Black Knight Financial Services reports the following “first look” at November 2014 month-end mortgage performance statistics derived from its loan-level database representing approximately two-thirds of the overall market.  According to Black Knight, New Jersey has the second-highest foreclosures/delinquencies in the nation, as a percent of active loans in the state.

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 6.08%
Month-over-month change: 11.82%
Year-over-year change: -5.69%

Total U.S. foreclosure pre-sale inventory rate: 1.63%
Month-over-month change: -3.50%
Year-over-year change: -34.70%

Total U.S. foreclosure starts: 73,900
Month-over-month change: -9.21%
Year-over-year change: -29.55%

Monthly Prepayment Rate (SMM): 0.91%
Month-over-month change: -6.62%
Year-over-year change: 3.68%

Foreclosure Sales as % of 90+: 1.49%
Month-over-month change: -26.51%
Year-over-year change: -5.69%

Number of properties that are 30 or more days past due, but not in foreclosure: 3,088,000
Month-over-month change: 329,000
Year-over-year change: -153,000

Number of properties that are 90 or more days past due, but not in foreclosure: 1,163,000
Month-over-month change: 62,000
Year-over-year change: -120,000

Number of properties in foreclosure pre-sale inventory: 829,000
Month-over-month change: -29,000
Year-over-year change: -427,000

Number of properties that are 30 or more days past due or in foreclosure: 3,917,000
Month-over-month change: 300,000
Year-over-year change: -580,000

Top 5 States by Non-Current* Percentage

Mississippi: 14.88%
New Jersey: 12.41%
Louisiana: 11.67%
New York: 10.97%
Florida: 10.78%

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state

Bottom 5 States by Non-Current* Percentage

Montana: 4.22%
Colorado: 3.91%
South Dakota: 3.87%
Alaska: 3.63%
North Dakota: 2.67%

Top 5 States by 90+ Days Delinquent Percentage

Mississippi: 5.39%
Rhode Island: 3.80%
Louisiana: 3.68%
Alabama: 3.66%
Arkansas: 3.34%

Top 5 States by 6-Month Improvement in Non-Current* Percentage

Alaska: -10.56%
Florida: -5.43%
Oregon: -4.18%
Nevada: -4.00%
Washington: -3.19%

Top 5 States by 6-Month Deterioration in Non-Current* Percentage

Wyoming: 14.81%
Arizona: 10.90%
Kansas: 10.81%
Louisiana: 9.53%
Texas: 9.11%

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

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