Black Knight's First Look at August 2017 Mortgage Data: Hurricane Harvey Impact Already Being Felt in the Mortgage Market as Delinquencies Jump 16 Percent in Affected Areas
Black Knight's First Look at August 2017 Mortgage Data: Hurricane Harvey Impact Already Being Felt in the Mortgage Market as Delinquencies Jump 16 Percent in Affected Areas
[September 21, 2017]
Black Knight's First Look at August 2017 Mortgage Data: Hurricane Harvey Impact Already Being Felt in the Mortgage Market as Delinquencies Jump 16 Percent in Affected Areas
Nationally, delinquencies remained relatively flat from July, while delinquencies in Hurricane Harvey- impacted areas rose by 16 percent month over month
Despite most payments being due August 1, and the storm making landfall near the end of the month, its effect on mortgage delinquencies is already being felt
Over 6,700 new 30-day delinquencies can be attributed to Harvey, while an additional 1,000 borrowers who were already 30-days past due missed an additional mortgage payment in August as a result of the storm
Based on observations from previous hurricanes, the heaviest impact on mortgage delinquency rates will come in September
JACKSONVILLE, Fla., Sept. 21, 2017 (GLOBE NEWSWIRE) -- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE:BKFS) reports the following “first look” at August 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):? 3.93% Month-over-month change: 0.72% Year-over-year change: -7.27%
Total U.S. foreclosure pre-sale inventory rate: 0.76% Month-over-month change: -3.27% Year-over-year change: -27.23%
Total U.S. foreclosure starts: 54,700 Month-over-month change: 2.63% Year-over-year change: -20.49%
Foreclosure Sales as % of 90+: 2.12% Month-over-month change: 7.98% Year-over-year change: -1.64%
Number of properties that are 30 or more days past due, but not in foreclosure: ?2,003,000 Month-over-month change: 17,000 Year-over-year change: -148,000
Number of properties that are 90 or more days past due, but not in foreclosure: ?557,000 Month-over-month change: 2,000 Year-over-year change: -112,000
Number of properties in foreclosure pre-sale inventory: ?385,000 Month-over-month change: -13,000 Year-over-year change: -142,000
Number of properties that are 30 or more days past due or in foreclosure: ?2,389,000 Month-over-month change: 5,000 Year-over-year change: -289,000
Top 5 States by Non-Current* Percentage
Mississippi:
10.47
%
Louisiana:
8.82
%
Alabama:
7.22
%
West Virginia:
6.95
%
Maine:
6.52
%
Bottom 5 States by Non-Current* Percentage
Montana:
2.69
%
Oregon:
2.58
%
Minnesota:
2.53
%
North Dakota:
2.31
%
Colorado:
2.11
%
Top 5 States by 90+ Days Delinquent Percentage
Mississippi:
3.11
%
Louisiana:
2.49
%
Alabama:
2.07
%
Arkansas:
1.93
%
Tennessee:
1.65
%
Top 5 States by 6-Month Improvement in Non-Current* Percentage
Oregon:
-16.17
%
District of Columbia:
-14.84
%
New Jersey:
-14.31
%
Hawaii:
-14.14
%
Massachusetts:
-12.67
%
Top 5 States by 6-Month Deterioration in Non-Current* Percentage
Alaska:
-0.95
%
Texas:
-1.49
%
North Dakota:
-2.60
%
Nebraska:
-2.90
%
South Dakota:
-4.29
%
*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.
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 Oct. 2, 2017.
For more information about gaining access to Black Knight’s loan-level database, please send an email to [email protected].
About Black Knight Financial Services, Inc. Black Knight Financial Services, Inc. (NYSE:BKFS) is a leading provider of integrated software, 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 a 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 software, 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.