First Look At June 2022 Mortgage Data

• The national delinquency rate rose nine basis points from May to reach 2.84% after hitting consecutive record lows in each of the prior three months
• Increases were broad-based – the number of borrowers a single payment past due rose 5%, while 90-day delinquencies broke a 21-month streak of improvement with a modest 1% uptick from the prior month
• Foreclosure starts were also up 27% in June – still 40% below pre-pandemic levels – marking a 441% year-over-year increase, a significant rise from pandemic-driven lows
• Starts also represented the highest share (4%) of serious delinquencies since March 2020, but less than half the rate in the years leading up to the pandemic
• Active foreclosure inventory rose by 16K in the month as volumes continue to slowly come off the record lows brought on by widespread moratoriums and forbearance protections in 2020/21
• Prepayment activity was down another 7% in June with prepays now down by 64% from the same time last year as rising rates put downward pressure on both purchase and refinance lending

JACKSONVILLE, Fla. – July 25, 2022 — Black Knight, Inc. (NYSE:BKI) reports the following “first look” at June 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.

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 Aug. 1, 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.