First Look At February 2022 Mortgage Data

• Though past-due loans edged higher (+1.8%) in February, the national delinquency rate remains near pre-pandemic levels heading into March, a month known for strong seasonal performance improvements
• February’s increase was driven by a rise of 97,000 in early-stage delinquencies – which nevertheless remain well below pre-pandemic levels
• At the same time, the number of seriously delinquent mortgages (those 90 or more days past due) fell by 72,000 as borrowers leaving forbearance plans continue to return to making payments
• After seeing a sizable spike in January, foreclosure starts pulled back by 24%, with the month’s 25,000 starts 25% below February 2020 levels, prior to the onset of pandemic-related economic stress
• Likewise, despite a 39,000 increase in the number of loans in active foreclosure, the population remains 32% below February 2020 levels
• Prepayment activity – as reflected in single-month mortality – dropped another 11% in February, hitting a nearly three-year low as rising rates continue to impact refinance volumes

JACKSONVILLE, Fla. – March 24, 2022 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at February 2022 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:

• 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.

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 April 4, 2022. 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, 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 serving their customers. For more information on Black Knight, please visit www.blackknightinc.com.