— National delinquency rate fell 8 percent in March; at 4.08 percent, it is at its lowest point since March 2007

— At just under 2 percent, the rate of 30-day delinquencies is at lowest level in over 15 years

— Spurred by declining interest rates, prepayment speeds (historically a good indicator of refinance activity) were up 46 percent from one month ago

— Foreclosure starts were down 14 percent from February; still driven primarily by repeat foreclosure activity

JACKSONVILLE, Fla.- The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS), reports the following “first mortgage bankruptcylook” at March 2016 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): 4.08%
Month-over-month change: -8.37%
Year-over-year change: -12.42%

Total U.S. foreclosure pre-sale inventory rate: 1.25%
Month-over-month change: -3.69%
Year-over-year change: -25.59%

Total U.S. foreclosure starts: 72,800
Month-over-month change: -13.64%
Year-over-year change: -21.04%

Monthly Prepayment Rate (SMM): 1.30%
Month-over-month change: 46.03%
Year-over-year change: -16.90%

Foreclosure Sales as % of 90+: 2.18%
Month-over-month change: 17.30%
Year-over-year change: 12.67%

Number of properties that are 30 or more days past due, but not in foreclosure: 2,062,000
Month-over-month change: -190,000
Year-over-year change: -287,000

Number of properties that are 90 or more days past due, but not in foreclosure: 733,000

Month-over-month change: -39,000
Year-over-year change: -193,000

Number of properties in foreclosure pre-sale inventory: 631,000

Month-over-month change: -24,000
Year-over-year change: -215,000

Number of properties that are 30 or more days past due or in foreclosure: 2,693,000

Month-over-month change: -214,000
Year-over-year change: -502,000

Top 5 States by Non-Current* Percentage

Mississippi: 10.80%
New Jersey: 9.07%
Louisiana: 8.89%
New York 7.87%
Maine 7.77%

Bottom 5 States by Non-Current* Percentage

Alaska: 2.85%
South Dakota: 2.74%
Minnesota: 2.64%
Colorado: 2.53%
North Dakota: 2.02%

Top 5 States by 90+ Days Delinquent Percentage

Mississippi: 3.65%
Louisiana: 2.73%
Alabama: 2.58%
Arkansas: 2.21%
Rhode Island 2.16%

Top 5 States by 6-Month Improvement in Non-Current* Percentage

Nebraska: -21.25%
Michigan: -20.98%
South Dakota: -20.16%
Alaska: -19.51%
Indiana: -19.25%

Top 5 States by 6-Month Deterioration in Non-Current* Percentage

California: -7.47%
North Dakota: -7.95%
Hawaii: -9.27%
District of Columbia: -11.28%
Wyoming: -11.82%

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
Notes:

SOURCE:  Black Knight Financial Services, Inc.

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. For a more detailed view of this month’s “first look” data, please visit the Black Knight newsroom at http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/20160422.aspx.

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 May 2, 2016.

Erik Sandstrom
LoanSafe's Mortgage Expert
I'm a Senior Loan Officer and LoanSafe mortgage expert. If you need a live rate quote, or need help getting a new mortgage, please call me direct anytime at 619-379-8999.