First Look At September 2019 Mortgage Data
Despite Slight Seasonal Uptick, Mortgage Delinquencies Fall 11% From Last Year; Prepays More Than Double as Refi Wave Continues
- The national delinquency rate edged up seasonally in September to 3.53%, but fell 11.2% from one year prior for the largest year-over-year decline in eight months
- Both serious delinquencies and active foreclosure inventory fell in the month as well, with the latter falling to its lowest level since late 2005
- Western states – Colorado, Oregon, Washington, Idaho, and California – continue to hold the nation’s lowest non-current rates (all delinquencies plus active foreclosures)
- Prepayment activity (SMM) rose by 3% from August despite facing headwinds from the typical seasonal decline in home sale-related prepayments
- Prepays are now up 121% from the same time last year as falling rates continue to spur refinance activity
JACKSONVILLE, Fla. – Oct. 24, 2019 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at September 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 Nov. 4, 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.