First Look At May 2020 Mortgage Data

Mortgage Delinquencies Increase Another 20% in May to Hit Highest Level Since 2011, But June Payment Data Suggests Rise May Be Cresting

  • Another 723,000 homeowners became past due on their mortgages in May, pushing the national delinquency rate to its highest level in 8.5 years
  • There are now 4.3 million homeowners past due on their mortgages or in active foreclosure – including those in forbearance who have missed scheduled payments as part of their plans – up from 2 million at the end of March
  • Serious delinquencies are on the rise as well, increasing by more than 50% over the past two months
  • However, Black Knight’s McDash Flash Payment Tracker shows a higher share of payments have been made thus far in June than at the same time in May, suggesting the rise in delinquencies may be leveling off
  • Both foreclosure starts and sales (completions), halted by COVID-19 moratoriums, remain at record lows
  • The share of homeowners in active foreclosure has fallen to its lowest level on record since Black Knight began reporting the figure in January 2000
  • COVID-19-related impacts on April purchase and refinance locks resulted in mortgage prepayments edging downward, but with 30-year rates near record lows, the potential for increased prepay activity remains

JACKSONVILLE, Fla. – June 22, 2020 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at May 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.

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 July 6, 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.

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Media Contacts

Michelle Kersch
904.854.5043
michelle.kersch@bkfs.com

Mitch Cohen
704.890.8158
mitch.cohen@bkfs.com​​​