From Black Knight: Black Knight’s First Look: January’s Prepayment Rate Lowest in More Than 18 Years as Seasonal Home Sale Reductions Outweigh Rise in Refinance Incentive



• The national delinquency rate fell by 3.5 percent and is now nearly 13 percent below last year’s level



• Foreclosure starts rose seasonally month-over-month but were down more than 19 percent year-over-year



• The number of loans in active foreclosure continued its downward trend; there are now 265,000 active foreclosures, down 72,000 from one year ago

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• Despite recent declines in interest rates, January’s prepayment rate was the lowest since November 2000



• Seasonal reductions in home sales outweighed any early, rate-driven rise in refinance incentive

Black Knight: Percent Loans Delinquent and in Foreclosure Process Jan

2019 Dec

2018 Jan

2018 Jan

2017 Delinquent 3.75% 3.88% 4.31% 4.25% In Foreclosure 0.51% 0.52% 0.66% 0.94% Number of properties: Number of properties that are delinquent, but not in foreclosure: 1,945,000 2,013,000 2,202,000 2,162,000 Number of properties in foreclosure pre-sale inventory: 265,000 271,000 337,000 481,000 Total Properties 2,210,000 2,283,000 2,539,000 2,643,000

According to Black Knight's First Look report for January, the percent of loans delinquent decreased 3.45% in January compared to December, and decreased 12.9% year-over-year.The percent of loans in the foreclosure process decreased 2.2% in January and were down 22.4% over the last year.Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 3.75% in January, down from 3.88% in December.The percent of loans in the foreclosure process decreased slightly in January to 0.51% from 0.52% in December.The number of delinquent properties, but not in foreclosure, is down 257,000 properties year-over-year, and the number of properties in the foreclosure process is down 72,000 properties year-over-year.