— Delinquency rate down 3 percent for the month; ends 2015 at 4.8 percent of active mortgages
— Prepayment rate (historically a good indicator of refinance activity) up 24 percent from lackluster November
— 90-day delinquent inventory falls 19,000 in December, reversing two consecutive months of increases
— Foreclosure starts up more than 17 percent from post-crisis low in November; still 15 percent below last year’s levels
JACKSONVILLE, Fla. — The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE:BKFS) reports the following “first look” at December 2015 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 4.78%
Month-over-month change: -2.99%
Year-over-year change: -14.98%
Total U.S. foreclosure pre-sale inventory rate: 1.37%
Month-over-month change: -1.00%
Year-over-year change: -21.85%
Total U.S. foreclosure starts: 78,100
Month-over-month change: 17.27%
Year-over-year change: -14.64%
Monthly Prepayment Rate (SMM): 1.14%
Month-over-month change: 23.85%
Year-over-year change: 1.29%
Foreclosure Sales as % of 90+: 1.87%
Month-over-month change: 5.87%
Year-over-year change: 27.82%
Number of properties that are 30 or more days past due, but not in foreclosure: 2,408,000
Month-over-month change: -83,000
Year-over-year change: -425,000
Number of properties that are 90 or more days past due, but not in foreclosure: 808,000
Month-over-month change: -19,000
Year-over-year change: -280,000
Number of properties in foreclosure pre-sale inventory: 689,000
Month-over-month change: -9,000
Year-over-year change: -192,000
Number of properties that are 30 or more days past due or in foreclosure: 3,097,000
Month-over-month change: -92,000
Year-over-year change: -618,000
Top 5 States by Non-Current* Percentage
New Jersey: 10.13%
New York: 8.79%
Bottom 5 States by Non-Current* Percentage
South Dakota: 3.31%
North Dakota: 2.17%
Top 5 States by 90+ Days Delinquent Percentage
Top 5 States by 6-Month Improvement in Non-Current* Percentage
Top 5 States by 6-Month Deterioration in Non-Current* Percentage
West Virginia: 1.34%
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
- Totals are extrapolated based on Black Knight Financial Services’ 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 http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/Mortgage-Monitor.aspx by Feb. 1, 2016.
I’m LoanSafe.org’s mortgage expert and a senior loan officer with Prime Lending. If you need a live rate quote, or need help getting a new mortgage, please call me direct anytime at 619-379-8999.