Black Knight’s First Look: May 2018 Sees Second Fewest Foreclosure Starts in 17 Years; Active Foreclosure Inventory on Pace to Hit Pre-Recession Average in Early Q3 2018

• At 44,900, May 2018 saw the second lowest monthly foreclosure starts in more than 17 years
  
• Just 303,000 mortgages remain in active foreclosure; at 0.59 percent, the national foreclosure rate is now at its lowest point in 15 years
• At the current rate of decline, national foreclosure inventories are on pace to hit the pre-recession average (2000-2005) in early Q3 2018
• May marked five consecutive months of declining delinquencies, as post-hurricane improvement continues
• Delinquency improvements in hurricane-affected areas more than offset slight increases in non-impacted markets in May, dropping the national delinquency rate to its lowest level in 15 months

JACKSONVILLE, Fla., June 21, 2018 (GLOBE NEWSWIRE) --  Black Knight, Inc. (NYSE:BKI) reports the following “first look” at May 2018 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):​ 3.64%
Month-over-month change: -0.84%
Year-over-year change: -4.08%

Total U.S. foreclosure pre-sale inventory rate: 0.59%
Month-over-month change: -3.30%
Year-over-year change: -28.65%

Total U.S. foreclosure starts: 44,900
Month-over-month change: -8.92%
Year-over-year change: -19.53%

Monthly prepayment rate (SMM): 0.93%
Month-over-month change: 10.65%
Year-over-year change: -12.71%

Foreclosure sales as % of 90+: 1.82%
Month-over-month change: 13.22%
Year-over-year change: -15.83%

Number of properties that are 30 or more days past due, but not in foreclosure: ​1,867,000
Month-over-month change: -18,000
Year-over-year change: -60,000

Number of properties that are 90 or more days past due, but not in foreclosure: ​568,000
Month-over-month change: -30,000
Year-over-year change: 6,000

Number of properties in foreclosure pre-sale inventory: ​303,000
Month-over-month change: -11,000
Year-over-year change: -118,000

Number of properties that are 30 or more days past due or in foreclosure: 2,171,000
Month-over-month change: -28,000
Year-over-year change: -177,000

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

Notes:
1) Totals are extrapolated based on Black Knight’s loan-level database of mortgage assets.
2) 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.
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 July 9, 2018.

For more information about gaining access to Black Knight’s loan-level database, please send an email to dataanalyticsinfo@bkfs.com.

About Black Knight
Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.

As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.

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