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BLACK KNIGHT FINANCIAL SERVICES INC

(BKFS)
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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

09/21/2017 | 09:01am EST
  • 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%

Monthly Prepayment Rate (SMM): 1.13%
Month-over-month change: 11.47%
Year-over-year change: -32.23%

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.

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/20170921.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 Oct. 2, 2017.

For more information about gaining access to Black Knight’s loan-level database, please send an email to dataanalyticsinfo@bkfs.com.

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.

For more information:

Michelle Kersch
904.854.5043
michelle.kersch@bkfs.com 

Mitch Cohen          
646.926.7741
mitch@mprg.com

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Kirk T. Larsen Chief Financial Officer & Director
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