First Look At July 2020 Mortgage Data
Total Number of Past Due Mortgages Improves in July While Serious Delinquencies Climb; Monthly Prepayment Activity Hits 16-Year High
- Mortgage delinquencies continued to improve in July, falling 9% from June, with more than 340,000 fewer past due mortgages than in the month prior
- Early-stage delinquencies – loans with a single missed payment – have fallen below pre-pandemic levels, suggesting that the initial inflow of new COVID-19-related delinquencies has subsided
- However, serious delinquencies – those 90 or more days past due – rose by 376,000 and are now up more than 1.8 million from their pre-pandemic levels
- Foreclosure activity continues to remain muted due to widespread moratoriums; though starts rose for the month, overall activity remains near record lows
- Prepayment activity edged slightly higher in July, hitting its highest monthly mark since early 2004, as low rates continue to drive both refinance and purchase activity
JACKSONVILLE, Fla. – August 21, 2020 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at July 2020 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 Sep. 8, 2020.
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.