First Look At May 2019 Mortgage Data
Continued Improvement Pushes Mortgage Delinquencies to New Record Low in May; Prepayment Activity Doubles Over Past Four Months
- The national delinquency rate has fallen for the third consecutive month, hitting 3.36% in May, its lowest level since Black Knight began reporting the metric in January 2000
- Both early-stage and serious delinquencies fell from April, as did loans in active foreclosure, bringing total non-current inventory – all loans past due, including foreclosures – to its lowest point since early 2005
- Foreclosure starts also fell month-over-month to 39,000, the fewest of any month in more than 18 years
- Prepayment activity jumped another 24% in May, more than doubling over the past four months to reach its highest level in more than two years
JACKSONVILLE, Fla. – June 20, 2019 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at May 2019 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 July 1, 2019.
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.