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– In July, the level of delinquencies across the country decreased by 5%, and now it is 4.14%, which is almost half as much as in May last year.
– Delays have now decreased in 12 of the last 14 months, with the two-month increase due to the calendar rather than indicating a deterioration in performance
– While total crime rates continue to approach pre-pandemic levels, grave crimes have still risen significantly since the federal foreclosure moratorium expired at the end of July.
– About 1.45 million borrowers remained 90 days or more overdue – but not yet foreclosed – in August, more than 1 million more than at the start of the pandemic.
– In July, the final month of a moratorium on foreclosure on federal government-backed mortgages, foreclosures remained muted, down 58% from the same period last year.
– While the number of loans in active foreclosure fell by 5,000 to another all-time low, the potential foreclosure activity in the coming months needs to be closely monitored.
– After growth in June, prepayment activity in July decreased by 11%; however, the low 30-year rates in recent weeks have resulted in a moderate resurgence in refinancing incentives, which could affect prepayment figures for August.
JACKSONVILLE, Florida., 20 August 2021 / PRNewswire / – Black Knight, Inc. (NYSE: BKI) Announces Next First Look at April 2021 mortgage statistics at the end of the month sourced from its loan-level database, representing most of the national mortgage market.
Total delinquency on loans in the United States (loans overdue by 30 days or more, but not collected): 4.14%
Change from the previous month: -5.22%
Annual change: -40.06%
Total US Presale Inventory: 0.26%
Change from the previous month: -3.99%
Change from the same period last year: -25.93%
Total foreclosure began in the US: 4,200
Change from the previous month: -4.55%
Annual change: -57.58%
Prepayment Monthly Rate (SMM): 2.04%
Change from the previous month: -10.68%
Annual change: -25.37%
Revenue from redemption as% of 90+: 0.17%
Change from previous month: 40.66%
Annual change: 210.45%
Number of properties with a maturity of 30 days or more, but not withdrawn from the right of repurchase: 2,206,000
Change from previous month: -114,000
Annual change: -1,486,000
Number of properties with a maturity of 90 days or more, but not disposed of: 1,447,000.
Change from previous month: -103,000
Annual change: -803,000
Number of properties in the presale foreclosure inventory: 140,000
Change from previous month: -5,000
Annual change: -50,000
Number of real estate objects with delay in payment for 30 days or more or alienation of the right of repurchase: 2,346,000
Change from previous month: -120,000
Year over year change: -1,535,000
Top 5 states by imprecise * percentage
Mississippi: 7.66%
Louisiana: 6.93%
Hawaii: 6.09%
Oklahoma: 5.93%
West Virginia: 5.83%
Remaining 5 states by non-current * percentage
Montana: 2.79%
Washington: 2.68%
Utah: 2.66%
Colorado: 2.57%
Idaho: 2.20%
Top 5 states for late payment over 90 days
Mississippi: 4.57%
Louisiana: 4.18%
Hawaii: 3.83%
Maryland: 3.81%
Alaska: 3.80%
Top 5 states to increase the share of non-current * in 6 months
Nevada: -33.24%
Rhode Island: -33.14%
Florida: -32.52%
Arizona: -32.48%
Hawaii: -32.17%
Top 5 states by percentage decline in long-term * over six months
District of Columbia: -18.74%
Minnesota: -21.60%
Nebraska: -21.94%
Wisconsin: -22.86%
Iowa: -22.95%
* Long-term totals include foreclosures and delinquencies as a percentage of active loans in that state.
Notes:
1) Totals are extrapolated based on the Black Knight mortgage asset database at the loan level.
2) All whole numbers have been rounded to the nearest thousand, except for the commencement of foreclosure, which is rounded to the nearest hundred.
For a more detailed view of this month’s First View data, please visit Black Knight Newsroom…
The company will provide a more detailed overview of this data in its monthly Mortgage Monitor report, which includes data analysis supplemented with detailed charts and graphs that show trends and observations at a particular point in time. The Mortgage Monitor report will be available on the website https://www.blackknightinc.com/data-reports/ To Wednesday, 8 September 2021…
For more information on accessing the Black Knight database at the loan level, 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 mortgage lending and services, real estate, capital and secondary markets. Businesses use our robust, integrated solutions throughout the home ownership lifecycle to help retain existing customers, attract new customers, reduce risk and operate more efficiently.
Our customers rely on our proven, comprehensive, scalable products and our unwavering commitment to providing superior customer support to achieve their strategic goals and better serve their customers. For more information on Black Knight visit www.blackknightinc.com…
View original content for media downloads:https://www.prnewswire.com/news-releases/black-knight-overall-mortgage-delinquencies-edge-closer-to-pre-pandemic-levels-but-1-45m-remain-seriously-past-due- the moratorium expired at the end of July 301358052.html
SOURCE Black Knight, Inc.
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