From Black Knight: Black Knight’s First Look: Seasonal, Calendar and Hurricane-Related Pressures Result in Largest Single-Month Mortgage Delinquency Increase in Nearly a Decade



• Mortgage delinquencies rose more than 13 percent in September, the largest single-month rise since November 2008



• 16 of the last 19 Septembers have seen delinquencies increase, averaging a 5.2 percent rise over that time frame, the largest of any month during the calendar year



• September 2018 also ended on a Sunday, which typically creates strong upward pressure on delinquencies



• Hurricane Florence-related delinquencies spiked 38 percent month-over-month, with more than 6,000 borrowers already missing a payment as a direct result of the storm



• Foreclosure starts posted a double-digit monthly decline, hitting a nearly 18-year low at just 40,000 for the month



• Both the inventory of loans in active foreclosure and the foreclosure rate have now fallen below their pre-recession averages for the first time since the financial crisis

Black Knight: Percent Loans Delinquent and in Foreclosure Process Sept

2018 Aug

2018 Sept

2017 Sept

2016 Delinquent 3.97% 3.52% 4.40% 4.27% In Foreclosure 0.52% 0.54% 0.70% 1.00% Number of properties: Number of properties that are delinquent, but not in foreclosure: 2,049,000 1,818,000 2,245,000 2,165,000 Number of properties in foreclosure pre-sale inventory: 268,000 280,000 358,000 509,000 Total Properties 2,317,000 2,099,000 2,603,000 2,674,000

According to Black Knight's First Look report for September, the percent of loans delinquent increased 13.2% in September compared to August, but decreased 9.8% year-over-year.The percent of loans in the foreclosure process decreased 4.5% in September and were down 26.0% 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 3.97% in September, up from 3.52% in August.The percent of loans in the foreclosure process decreased in September to 0.52% from 0.54% in August.The number of delinquent properties, but not in foreclosure, is down 196,000 properties year-over-year, and the number of properties in the foreclosure process is down 90,000 properties year-over-year.