- The national delinquency rate inched up 7 basis points in the
month to 3.08%, but finished the year 30 basis points (-9%) below
its December 2021 level
- Prepayment activity fell to 0.39% – with single month mortality
(SMM) hitting its third consecutive record low dating back to 2000
when Black Knight began reporting the metric
- Serious delinquencies (90+ days past due) continued to improve
nationally despite an 8.7K rise in
Florida in the wake of Hurricane
Ian, with 44 other states seeing seriously past-due volumes decline
in the month
- Borrowers 30 days late increased by 40K, up 4.8%, while 60-day delinquencies stayed
flat
- Foreclosure starts increased by 15% in the month to 26,900 –
the third consecutive increase, but still 30% below pre-pandemic
levels
- Foreclosure was started on 4.9% of serious delinquencies in
December, up from November but still 46% below the start rate seen
in December 2019 prior to the
pandemic
- Active foreclosure inventory rose by 2.3% in the month, though
volumes remained subdued throughout 2022 after the record lows of
2021 due to widespread moratoriums and forbearance protections
JACKSONVILLE, Fla., Jan. 25,
2023 /PRNewswire/ -- Black Knight,
Inc. (NYSE:BKI) reports the following "first look" at
December 2022 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): 3.08%
Month-over-month change: 2.31%
Year-over-year change: -8.89%
Total U.S. foreclosure pre-sale inventory rate: 0.37%
Month-over-month change: 0.71%
Year-over-year change: 53.47%
Total U.S. foreclosure starts:
26,900
Month-over-month change: 14.96%
Year-over-year change: 556.10%
Monthly prepayment rate (SMM): 0.39%
Month-over-month change: -2.72%
Year-over-year change: -76.14%
Foreclosure sales as % of 90+: 0.52%
Month-over-month change: -5.78%
Year-over-year change: 76.26%
Number of properties that are 30 or more days past due, but not
in foreclosure: 1,653,000
Month-over-month change: 41,000
Year-over-year change: -146,000
Number of properties that are 90 or more days past due, but not
in foreclosure: 545,000
Month-over-month change: -5,000
Year-over-year change: -401,000
Number of properties in foreclosure pre-sale inventory:
198,000
Month-over-month change: 2,000
Year-over-year change: 70,000
Number of properties that are 30 or more days past due or in
foreclosure: 1,850,000
Month-over-month change: 42,000
Year-over-year change: -77,000
Top 5 States by Non-Current* Percentage
Mississippi:
|
6.87 %
|
Louisiana:
|
6.33 %
|
Oklahoma:
|
5.16 %
|
West
Virginia:
|
4.92 %
|
Alabama:
|
4.91 %
|
Bottom 5 States by Non-Current* Percentage
Oregon:
|
2.10 %
|
Colorado:
|
1.96 %
|
California:
|
1.91 %
|
Idaho:
|
1.89 %
|
Washington:
|
1.69 %
|
Top 5 States by 90+ Days Delinquent Percentage
Mississippi:
|
2.31 %
|
Louisiana:
|
1.90 %
|
Arkansas:
|
1.59 %
|
Alabama:
|
1.57 %
|
Maryland:
|
1.45 %
|
Top 5 States by 6-Month Change in Non-Current*
Percentage
Alaska:
|
-19.58 %
|
New
York:
|
-5.24 %
|
Hawaii:
|
-4.12 %
|
North
Dakota:
|
-0.78 %
|
District of
Columbia:
|
0.08 %
|
Bottom 5 States by 6-Month Change in Non-Current*
Percentage
Florida:
|
22.44 %
|
Arizona:
|
18.78 %
|
South
Dakota:
|
14.95 %
|
Wyoming:
|
14.49 %
|
Idaho:
|
14.09 %
|
*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.
For a more detailed view of this month's "first look" data,
please visit the Black Knight newsroom. 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 https://www.blackknightinc.com/data-reports/ by Feb. 6, 2023. For more information about gaining
access to Black Knight's loan-level database, please send an email
to Mortgage.Monitor@bkfs.com.
About Black Knight
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data
and analytics company that drives innovation in the mortgage
lending and servicing and real estate industries, as well as the
capital and secondary markets. Businesses leverage our robust,
integrated solutions across the entire homeownership life cycle to
help retain existing customers, gain new customers, mitigate risk
and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products
and our unwavering commitment to delivering superior client support
to achieve their strategic goals and better serve their customers.
For more information on Black Knight, please
visit www.blackknightinc.com.
For more information:
Michelle Kersch
|
Mitch Cohen
|
904.854.5043
|
704.890.8158
|
michelle.kersch@bkfs.com
|
mitch.cohen@bkfs.com
|
View original content to download
multimedia:https://www.prnewswire.com/news-releases/black-knights-first-look-mortgage-delinquencies-closed-2022-down-9-for-the-year-while-prepayments-hit-third-consecutive-record-low-301730180.html
SOURCE Black Knight, Inc.