PR Newswire
– The national delinquency rate edged up to 2.89% in July – driven by a 4% increase in early-stage delinquencies – but remains just 14 basis points higher than the record low set in May of this year
– Serious delinquencies – loans 90 or more days past due, but not yet in active foreclosure – pulled back in July after worsening for the first time in 22 months in June
– The number of seriously delinquent loans curing to current has dropped steadily over recent months, from
104K
in March to
58K
in July, indicating that the easiest workouts have likely been completed
– Foreclosure starts retreated 25% from June for a total of
17.7K
starts – some 55% below pre-pandemic levels for the month of July – equating to just 3% of 90+ day past-due loans
– Though still up from record lows that came from widespread moratoriums and forbearance protections last year, the number of loans in active foreclosure declined slightly by
6K
in July
– Prepayment activity dropped by another 18% in July and is now down by 67% from the same time last year as rising rates put downward pressure on both purchase and refinance lending
JACKSONVILLE, Fla.
,
Aug. 24, 2022
/PRNewswire/ —
Black Knight, Inc.
(NYSE:BKI) reports the following “first look” at
July 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): 2.89%
Month-over-month change: 1.98%
Year-over-year change: -30.17%
Total U.S. foreclosure pre-sale inventory rate: 0.35%
Month-over-month change: -2.95%
Year-over-year change: 31.47%
Total U.S. foreclosure starts: 17,700
Month-over-month change: -25.63%
Year-over-year change: 321.43%
Monthly prepayment rate (SMM): 0.66%
Month-over-month change: -18.37%
Year-over-year change: -67.35%
Foreclosure sales as % of 90+: 0.52%
Month-over-month change: -1.35%
Year-over-year change: 200.75%
Number of properties that are 30 or more days past due, but not in foreclosure: 1,543,000
Month-over-month change: 32,000
Year-over-year change: -663,000
Number of properties that are 90 or more days past due, but not in foreclosure: 594,000
Month-over-month change: -5,000
Year-over-year change: -853,000
Number of properties in foreclosure pre-sale inventory: 184,000
Month-over-month change: -6,000
Year-over-year change: 44,000
Number of properties that are 30 or more days past due or in foreclosure: 1,728,000
Month-over-month change: 28,000
Year-over-year change: -618,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 by
Sept. 7, 2022
. 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, 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
.
|
|
|
|
|
|
|
|
|
View original content to download multimedia:
https://www.prnewswire.com/news-releases/black-knights-first-look-foreclosure-starts-pull-back-in-july-holding-well-below-pre-pandemic-levels-while-early-stage-delinquencies-edge-slightly-higher-301610655.html
SOURCE Black Knight, Inc.
Featured image: Megapixl © Blackboard373
