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SOURCE Black Knight Financial Services
- Foreclosure inventory at lowest level since May 2008
- Foreclosure starts rise for second month; still down 19 percent from last year
- Delinquency rate increases slightly from May
- Prepayment rate (historically a good indicator of refinance activity) rises for fourth consecutive month
JACKSONVILLE, Fla., July 23, 2014 /PRNewswire/ -- The Data and Analytics division of Black Knight Financial Services reports the following "first look" at June 2014 month-end mortgage performance statistics derived from its loan-level database representing approximately two-thirds of the overall market.
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure):? 5.70%
Month-over-month change: 1.55%
Year-over-year change: -14.59%
Total U.S. foreclosure pre-sale inventory rate:? 1.88%
Month-over-month change: -1.50%
Year-over-year change: -35.65%
Total U.S. foreclosure starts: 88,300
Month-over-month change: 2.32%
Year-over-year change: -18.99%
Monthly Prepayment Rate (SMM): 0.95%
Month-over-month change: 5.87%
Year-over-year change: -46.74%
Foreclosure Sales as % of 90+: 1.73%
Month-over-month change: -11.65%
Year-over-year change: -16.94%
Number of properties that are 30 or more days past due, but not in foreclosure:? 2,883,000
Month-over-month change: 44,000
Year-over-year change: -445,000
Number of properties that are 90 or more days past due, but not in foreclosure:? 1,155,000
Month-over-month change: -14,000
Year-over-year change: -190,000
Number of properties in foreclosure pre-sale inventory: 951,000
Month-over-month change: -15,000
Year-over-year change: -507,000
Number of properties that are 30 or more days past due or in foreclosure: 3,834,000
Month-over-month change: 29,000
Year-over-year change: -951,000
Top 5 States by Non-Current* Percentage
New Jersey: 12.61%
New York: 10.93%
Bottom 5 States by Non-Current* Percentage
South Dakota: 3.63%
North Dakota: 2.58%
Top 5 States by 90+ Days Delinquent Percentage
Rhode Island: 3.62%
Top 5 States by 6-Month Improvement in Non-Current* Percentage
Arizona : -17.10%
Top 5 States by 6-Month Deterioration in Non-Current* Percentage
West Virginia: -9.34%
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
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 in-depth 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 Aug. 4, 2014.
For more information about gaining access to Black Knight's loan-level database, please send an e-mail to email@example.com.
About Black Knight Financial Services, LLC
Black Knight Financial Services, a Fidelity National Financial (NYSE:FNF) company, is the mortgage and finance industries' leading provider of integrated technology, data and analytics solutions. Comprised of technology offerings from the union of LPS and ServiceLink, Black Knight Financial Services offers leading software systems; data and analytics offerings; and information solutions that facilitate and automate many of the business processes across the mortgage life cycle.
Black Knight Financial Services helps clients in the mortgage industry and beyond achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, 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.
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