Nationally, the number of non-current mortgages (those at least 30 days past-due or in active foreclosure) jumped by 214,000 (+9 percent), driven primarily by fallout from Hurricanes Harvey and Irma
FEMA-declared hurricane disaster areas accounted for the bulk of the increases; non-current inventory rose by 84,000 (+48 percent) in Irma disaster areas and 52,000 (+67 percent) in those related to Harvey
Prior to the hurricanes, Texas and Florida ranked 20th and 22nd among states by non-current mortgage rates; after the storms, they now rank 3rd and 5th respectively
Primarily as a result of hurricane impact, September saw the first annual rise in mortgage delinquencies (borrowers at least 30 days past-due but not yet in active foreclosure) since July 2010
Monthly foreclosure starts were at their lowest in more than 17 years, with starts down as much as 90 percent in areas covered by post-hurricane foreclosure action moratoria
JACKSONVILLE, Fla., Oct. 19, 2017 (GLOBE NEWSWIRE) -- The Data & Analytics division of Black Knight, Inc. (NYSE:BKI) reports the following “first look” at September 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):? 4.40% Month-over-month change: 11.85% Year-over-year change: 2.96%
Total U.S. foreclosure pre-sale inventory rate: 0.70% Month-over-month change: -7.17% Year-over-year change: -30.08%
Total U.S. foreclosure starts: 45,200 Month-over-month change: -17.37% Year-over-year change: -26.74%
Foreclosure Sales as % of 90+: 1.75% Month-over-month change: -17.39% Year-over-year change: -13.72%
Number of properties that are 30 or more days past due, but not in foreclosure: ? 2,245,000 Month-over-month change: 242,000 Year-over-year change: 80,000
Number of properties that are 90 or more days past due, but not in foreclosure: ? 576,000 Month-over-month change: 19,000 Year-over-year change: -92,000
Number of properties in foreclosure pre-sale inventory: ? 358,000 Month-over-month change: -27,000 Year-over-year change: -151,000
Number of properties that are 30 or more days past due or in foreclosure: ? 2,603,000 Month-over-month change: 214,000 Year-over-year change: -71,000
Top 5 States by Non-Current* Percentage
Mississippi:
10.81%
Louisiana:
9.48%
Florida:
7.67%
Alabama:
7.53%
Texas:
7.30%
Bottom 5 States by Non-Current* Percentage
Washington:
2.75%
Minnesota:
2.65%
Oregon:
2.58%
North Dakota:
2.46%
Colorado:
2.19%
Top 5 States by 90+ Days Delinquent Percentage
Mississippi:
3.15%
Louisiana:
2.58%
Alabama:
2.10%
Arkansas:
1.86%
Tennessee:
1.66%
Top 5 States by 6-Month Improvement in Non-Current* Percentage
Oregon:
-5.13%
Hawaii:
-4.24%
New Jersey:
-3.96%
District of Columbia:
-3.28%
Maine:
-0.20%
Top 5 States by 6-Month Deterioration in Non-Current* Percentage
Florida:
46.68%
Texas:
43.95%
Nebraska:
18.10%
Michigan:
17.72%
North Dakota:
17.34%
*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.
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 Nov. 6, 2017.
For more information about gaining access to Black Knight’s loan-level database, please send an email to [email protected].
About Black Knight Black Knight is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.
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.