Total Number of Past Due Mortgages Improves in July While Serious Delinquencies Climb; Monthly Prepayment Activity Hits 16-Year High

• Mortgage delinquencies continued to improve in July, falling 9% from June, with more than 340,000 fewer past due mortgages than in the month prior
• Early-stage delinquencies – loans with a single missed payment – have fallen below pre-pandemic levels, suggesting that the initial inflow of new COVID-19-related delinquencies has subsided
• However, serious delinquencies – those 90 or more days past due – rose by 376,000 and are now up more than 1.8 million from their pre-pandemic levels
• Foreclosure activity continues to remain muted due to widespread moratoriums; though starts rose for the month, overall activity remains near record lows
• Prepayment activity edged slightly higher in July, hitting its highest monthly mark since early 2004, as low rates continue to drive both refinance and purchase activity

JACKSONVILLE, Fla. – August 21, 2020 – Black Knight, Inc. (NYSE:BKI) reports the following “first look” at July 2020 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market…...more here

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