Black Knight’s First Look at March 2017 Mortgage Data

On Apr 21, 2017

The Data & Analytics division of Black Knight Financial Services, Inc. reports the following “first look” at March 2017 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): 3.62%

Month-over-month change: -14.08%

Year-over-year change: -11.40%

Total U.S. foreclosure pre-sale inventory rate: 0.88%

Month-over-month change: -4.60%

Year-over-year change: -29.15%

Total U.S. foreclosure starts: 60,300

Month-over-month change: 4.15%

Year-over-year change: -17.17%

Monthly Prepayment Rate (SMM): 0.96%

Month-over-month change: 20.03%

Year-over-year change: -25.98%

Foreclosure Sales as % of 90+: 2.29%

Month-over-month change: 22.59%

Year-over-year change: 4.74%

Number of properties that are 30 or more days past due, but not in foreclosure: 1,831,000

Month-over-month change: -304,000

Year-over-year change: -231,000

Number of properties that are 90 or more days past due, but not in foreclosure: 589,000

Month-over-month change: -52,000

Year-over-year change: -144,000

Number of properties in foreclosure pre-sale inventory: 448,000

Month-over-month change: -22,000

Year-over-year change: -183,000

Number of properties that are 30 or more days past due or in foreclosure: 2,279,000

Month-over-month change: -326,000

Year-over-year change: -414,000

Top 5 States by Non-Current* Percentage

Mississippi: 9.70%

Louisiana: 8.46%

Alabama: 6.87%

New Jersey: 6.64%

West Virginia: 6.56%

Bottom 5 States by Non-Current* Percentage

Idaho: 2.63%

Montana: 2.57%

Minnesota: 2.36%

North Dakota: 2.09%

Colorado: 2.06%

Top 5 States by 90+ Days Delinquent Percentage

Mississippi: 3.12%

Louisiana: 2.76%

Alabama: 2.17%

Arkansas: 1.89%

Tennessee: 1.73%

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

New Jersey: -18.27%

Louisiana: -18.01%

Washington: -17.69%

Nebraska: -17.25%

Michigan: -17.12%

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

North Dakota:  -6.33%

Hawaii: -9.43%

Alaska: -9.83%

South Dakota: -9.90%

Maine: -10.41%

*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 hundred.

Related Articles: