HomePress RoomPress ReleasesBlack Knight’s First Look at September 2018 Mortgage Data

Black Knight’s First Look at September 2018 Mortgage Data

Black Knight's First Look: Seasonal, Calendar and Hurricane-Related Pressures Result in Largest Single-Month Mortgage Delinquency Increase in Nearly a Decade

Black Knight’s First Look at September 2018 Mortgage Data
  • Mortgage delinquencies rose more than 13 percent in September, the largest single-month rise since November 2008
  • 16 of the last 19 Septembers have seen delinquencies increase, averaging a 5.2 percent rise over that time frame, the largest of any month during the calendar year
  • September 2018 also ended on a Sunday, which typically creates strong upward pressure on delinquencies
  • Hurricane Florence-related delinquencies spiked 38 percent month-over-month, with more than 6,000 borrowers already missing a payment as a direct result of the storm
  • Foreclosure starts posted a double-digit monthly decline, hitting a nearly 18-year low at just 40,000 for the month
  • Both the inventory of loans in active foreclosure and the foreclosure rate have now fallen below their pre-recession averages for the first time since the financial crisis
  • In the face of rising interest rates and affordability pressures, monthly prepayment activity – now primarily driven by housing turnover – fell by nearly 25 percent from August

JACKSONVILLE, Fla. – Oct. 24, 2018 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at September 2018 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.

 

Notes:

  1. Totals are extrapolated based on Black Knight’s 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.

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 Nov. 5, 2018.

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

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