Mortgage delinquencies hit another record high in April, driven by continued improvement in severely delinquent loans

  • The national crime rate fell to 2.80% in April, down four basis points from March, hitting a new high for the second month in a row
  • Overall delinquencies are down nearly 40% from a year ago as the mortgage market continues to recover from pandemic-related impacts
  • The number of borrowers with a single overdue payment increased 7.9% month-over-month, following typical seasonal trends
  • This has been offset by a strong improvement among borrowers who are three or more past due – with volumes down 8% month-over-month
  • Although these serious chargebacks have fallen by 6% to 12% in each of the past 14 months, volumes remain more than 55% higher than pre-pandemic levels
  • Despite still high levels of serious crime, foreclosures have fallen nearly 12% from March and remain well below pre-pandemic levels – although active foreclosures have increased slightly
  • Prepayment activity fell 19.1% from March and 61.8% from a year ago as interest rates continued their sharp rise in April

JACKSONVILLE, Florida., May 20, 2022 /PRNewswire/ — Dark Knight, Inc. (NYSE: BKI) reports the following “first look” at April 2022 month-end mortgage yield statistics drawn from its loan-level database representing the majority of the national mortgage market.

U.S. Total Delinquent Loan Rate (loans past due 30 days or more but not foreclosed): 2.80%
Month-on-month change: -1.31%
Year-over-year change: -39.93%

Total pre-sale inventory rate in the United States: 0.32%
Month-to-month change: 2.31%
Year-over-year change: 13.48%

Total number of seizures in the United States: 21,400
Month-on-month change: -11.93%
Year-over-year change: 478.38%

Monthly prepayment rate (SMM): 0.99%
Month-on-month change: -19.10%
Year-over-year change: -61.80%

Foreclosure sales in % of 90+: 0.46%
Month-to-month change: 8.58%
Year-over-year change: 228.58%

Number of properties overdue for 30 days or more but not seized: 1,496,000
Month-to-month change: -17,000
Year-over-year change: -1,004,000

Number of properties overdue for 90 days or more but not seized: 640,000
Month-to-month change: -54,000
Year-over-year change: -1,128,000

Number of properties in foreclosure pre-sale inventory: 173,000
Month-to-month change: 4,000
Year-over-year change: 20,000

Number of properties overdue for 30 days or more or in foreclosure: 1,669,000
Month-to-month change: -13,000
Year-over-year change: -984,000

Top 5 States by Non-Current Percentage*

Mississippi:

6.13%

Louisiana:

5.61%

Alabama:

4.54%

Oklahoma:

4.50%

West Virginia:

4.32%

Bottom 5 States by Non-Current Percentage*

Montana:

1.94%

California:

1.88%

Colorado:

1.77%

Idaho:

1.70%

Washington:

1.67%

Top 5 States by Percentage of 90+ Day Offenders

Mississippi:

2.55%

Louisiana:

2.37%

Alabama:

1.77%

Maryland:

1.70%

Arkansas:

1.70%

Top 5 states by 6-month change in non-current percentage*

Louisiana:

-35.76%

Nevada:

-29.36%

District of Colombia:

-27.90%

Washington:

-27.60%

New Jersey:

-27.13%

Top 5 states by 6-month change in non-current percentage*

North Dakota:

-10.13%

Maine:

-12.31%

Michigan:

-14.52%

Alaska:

-15.61%

Iowa:

-15.71%

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

  1. Totals are extrapolated based on Black Knight’s mortgage database.
  2. All integers are rounded to the nearest thousand, except for 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 look at this data in its monthly Mortgage Monitor report, which includes an analysis of the data supplemented by detailed charts and graphs that reflect trends and point observations. The Mortgage Monitor report will be available online via June 6, 2022. For more information on accessing Black Knight’s Loan Level Database, please email [email protected].

About the Dark Knight

Black Knight, Inc. (NYSE: BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage and real estate lending and servicing industries, as well as in capital markets and secondary. Businesses leverage our robust integrated solutions across the homeownership lifecycle to help retain existing customers, win 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 about Black Knight, please visit www.blackknightinc.com.

For more information:




michelle kersch

Mitch Cohen

904.854.5043

704.890.8158

m[email protected]

[email protected]

SOURCEBlack Knight, Inc.

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