Mortgage defaults on the rise for the first time in nine months; Increase largely based on timing, but bears are watching
JACKSONVILLE, Florida, March 23, 2021 / PRNewswire / – Dark Knight, Inc. (NYSE: BKI) reports the following “first look” at February 2021 month-end mortgage return statistics derived from its loan database representing the majority of the national mortgage market.
Total loan default rate in the United States (loans past due 30 days or more, but not in foreclosure): 6.00%
Month-to-month change: 2.61%
Year-to-year change: 83.03%
Total US Foreclosure Presale Inventory Rate: 0.32%
Month-to-month change: -1.15%
Year-to-year variation: -29.90%
Total foreclosure starts in the United States: 3,900
Month-to-month change: -33.90%
Year-on-year variation: -87.93%
Monthly Prepayment Rate (SMM): 2.85%
Month-to-month change: 8.41%
Year-to-year variation: 110.35%
90+% foreclosure sales: 0.09%
Month-to-month change: 8.18%
Year-to-year variation: -93.88%
Number of properties that are 30 days or more past due but not foreclosed: 3,186,000
Month-to-month change: 56,000
Year-to-year change: 1,449,000
Number of properties 90 days or more past due but not foreclosed: 2,075,000
Month-to-month change: -15,000
Year-to-year change: 1,666,000
Number of properties in the foreclosure presale inventory: 168,000
Month-to-month change: -3,000
Year-on-year change: -71,000
Number of properties overdue for 30 days or more or in foreclosure: 3,354,000
Month-to-month change: 53,000
Year-to-year change: 1,378,000
Top 5 States by percentage of non-current *
The last 5 states by percentage of non-current *
Top 5 States by Percentage of Offenders Over 90 Days
Top 5 States by 6-month improvement in the percentage of non-current *
Top 5 States by deterioration over 6 months in non-current percentage *
* Non-current totals combine foreclosures and defaults as a percentage of loans active in that state.
1) Totals are extrapolated based on Black Knight Mortgage Database.
2) All whole numbers are rounded to the nearest thousand, with the exception of the beginnings of foreclosure, which are rounded to the nearest hundred.
For a more detailed view of this month’s “first look” data, please visit the page Black Knight Newsroom.
The company will provide a more in-depth look at this data in its monthly Mortgage Monitor report, which includes data analysis supplemented with detailed tables and charts that reflect trends and one-off observations. The Mortgage Monitor report will be available online at https://www.blackknightinc.com/data-reports/ through April 5, 2021.
For more information on accessing the Black Knight Loan Level Database, please email [email protected].
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 services and real estate industries, as well as in capital markets and secondary. Businesses leverage our robust integrated solutions throughout the homeownership lifecycle to help retain existing customers, gain new customers, mitigate risk and operate more efficiently.
Our customers rely on our proven, comprehensive and scalable products and our unwavering commitment to providing superior customer support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com.
SOURCE Black Knight, Inc.