First Look At November 2021 Mortgage Data

• The national delinquency rate saw yet another month of steady improvement, with November’s 4.1% monthly decline matching the 18-month average rate of reduction
• Despite serious delinquencies (loans 90+ days past due but not in foreclosure) falling another 80,000 from October, over 1 million such delinquencies remain, 2.5 times more than at the start of the pandemic
• Both foreclosure starts (3,700) and active foreclosure inventory (132,000) hit new record lows in November as borrowers continue to work through available forbearance and loss mitigation options
• More than 800,000 forbearance exits have occurred over the past 60 days, with nearly 560,000 homeowners remaining in post-forbearance loss mitigation
• Given the size of this population, both serious delinquency and foreclosure metrics demand close attention as we enter 2022
• Prepayment activity (SMM) fell by 8.9% in November to hit its lowest level in 22 months, as rising 30-year rates continue to put downward pressure on refinance volumes

JACKSONVILLE, Fla. – Dec 23, 2021 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at November 2021 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.

For a more detailed view of this month’s “first look” data, please visit the Black Knight newsroom. Please note that Black Knight does not release an edition of the Mortgage Monitor report over the holidays and will return to its normal publishing schedule the first week of February 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.