The Data & Analytics division of Black Knight Financial Services, Inc. reports the following “first look” at July 2016 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): 4.51%
Month-over-month change: 4.78%
Year-over-year change: -3.38%
Total U.S. foreclosure pre-sale inventory rate: 1.09%
Month-over-month change: -1.68%
Year-over-year change: -28.36%
Total U.S. foreclosure starts: 61,300
Month-over-month change: -11.54%
Year-over-year change: -14.27%
Monthly Prepayment Rate (SMM): 1.26%
Month-over-month change: -11.98%
Year-over-year change: -1.00%
Foreclosure Sales as % of 90+: 1.99%
Month-over-month change: -13.65%
Year-over-year change: 1.05%
Number of properties that are 30 or more days past due, but not in foreclosure: 2,286,000
Month-over-month change: 108,000
Year-over-year change: -70,000
Number of properties that are 90 or more days past due, but not in foreclosure: 695,000
Month-over-month change: 3,000
Year-over-year change: -147,000
Number of properties in foreclosure pre-sale inventory: 550,000
Month-over-month change: -8,000
Year-over-year change: -214,000
Number of properties that are 30 or more days past due or in foreclosure: 2,836,000
Month-over-month change: 100,000
Year-over-year change: -284,000
Top 5 States by Non-Current* Percentage
New Jersey: 8.95%
West Virginia: 8.34%
Bottom 5 States by Non-Current* Percentage
South Dakota: 3.13%
North Dakota: 2.56%
Top 5 States by 90+ Days Delinquent Percentage
Top 5 States by 6-Month Improvement in Non-Current* Percentage
Top 5 States by 6-Month Deterioration in Non-Current* Percentage
North Dakota: 6.21%
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
- Totals are extrapolated based on Black Knight Financial Services’ loan-level database of mortgage assets.
- 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 at http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/20160822.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 detailed 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/Mortgage-Monitor.aspx by Sept. 6, 2016.