- August’s 36,200 foreclosure starts made for the lowest single-month total since December 2000
- The number of loans in active foreclosure inventory also fell; at 253,000, it’s the fewest since 2005
- Prepayment activity – typically a good indicator of refinance activity – continues to press upward, increasing 5% from July to reach a three-year high
- August’s prepayment rate was up 62% from the same time last year and 2.5 times the 18-year low hit in January
- Given a 30-45 day closing window, the month’s prepayment activity reflects June/July interest rates; as rates fell further in August and September, the peak in refinance-driven prepayments is likely still to come
JACKSONVILLE, Fla. – September 23, 2019 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at August 2019 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
- Totals are extrapolated based on Black Knight’s loan-level database of mortgage assets.
- All whole numbers are rounded to the nearest thousand, except foreclosure starts, which are rounded to the nearest hundred.
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 Oct. 7, 2019.
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 (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.
As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.BlackKnightInc.com.