Black Knight Inc. has unveiled a “first look” at May 2022 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market. The total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) was 2.75% with a month-over-month change of -1.93% and a year-over-year change of -41.96%.
The total U.S. foreclosure pre-sale inventory rate was 0.33%, 1.03% and 17.55%, respectively while total U.S. foreclosure starts were 18,800, -12.15% and 394.74%. The monthly prepayment rate (SMM) came in at 0.88%, -11.13% and -59.16%. Foreclosure sales figures as a percentage of 90+ were 0.50%, 8.61% and 305.57%.
In addition, the number of properties that are 30 or more days past due, but not in foreclosure, in May were 1,461,000, with a month-over-month change of -35,000 and a year-over-year change of -1,050,000. The number of properties that are 90 or more days past due, but not in foreclosure were 595,000, -45,000 and -1,074,000, respectively. The number of properties in foreclosure pre-sale inventory were 174,000, 1,000 and 26,000. The number of properties that are 30 or more days past due or in foreclosure came in at 1,635,000, with changes of -34,000 and -1,024,000.
The top five states by non-current percentage were Mississippi (6.07%), Louisiana (5.43%), Alabama (4.48%), Oklahoma (4.45%) and West Virginia (4.24%). The bottom five states by non-current percentage were Utah (1.92%), Colorado (1.80%), California (1.78%), Idaho (1.63%) and Washington (1.61%).
The top five states by 90+ days delinquent percentage were Mississippi (2.35%), Louisiana (2.12%), Alabama (1.67%), Alaska (1.64%) and Maryland (1.57%). The top five states by six-month improvement in non-current percentage was Louisiana (-31.66%), District of Columbia (-31.55%), Nevada (-27.85%), Hawaii (-27.06%) and Washington (-26.69%).
The top five states by six-month deterioration in non-current percentage were Maine (-8.57%), Alaska (-10.56%), Iowa (-12.04%), New Hampshire (-12.67%) and Missouri (-12.86%).
Image: “Foreclosure” by BasicGov is licensed under CC BY-SA 2.0