First Look At March 2018 Mortgage Data
Hurricane Impact Lingers, Drives Up Foreclosure Starts as Moratoria Lift; National Delinquencies Fall to 12-Month Low
- Seasonal effects and continued hurricane-related improvements contributed to a 13 percent decline in the national delinquency rate in March
- Nationally, there was a decline of 65,000 in serious delinquencies (90 or more days past due but not yet in foreclosure)
- Serious delinquencies attributable to Hurricanes Harvey and Irma saw a reduction of 19,500 loans
- However, as the hurricane impact shifts away from delinquencies, foreclosure starts rose by 12 percent
- More than two-thirds of that increase came from hurricane-affected areas of Texas and Florida
- Overall, active foreclosure inventory continues to improve, falling another 10,000 loans in March to its lowest level since late 2006
- Despite interest rates remaining above 4.4 percent, prepayment activity in March increased by 22 percent from February’s 4-year low
Jacksonville, Fla. – April 19, 2018 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at March 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.
- 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 by May 7, 2018.
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.