Tag Archives: Black Knight

Dan Sogorka of Sagent discusses the latest trends in the fintech space for mortgage servicers and the factors that will sway the housing market over the next 12 months.

According to the November 2023 ICE Mortgage Monitor Report, purchase-mortgage applications declined nearly 50% below pre-pandemic levels, with annual home price growth experiencing the weakest monthly gain since January. Read on to learn how sky-high mortgage rates continue to make life difficult for would-be homebuyers.

ICE data shows a year-over-year rise of 13 basis points year over year, marking only the second—and largest—annual increase in the past 2.5 years.

Alongside rising interest rates, the average equity withdrawal among cash-out refinances has also risen by nearly 90% from its low in 2020.

Click through for the latest updates on mortgage performance data, including breakdowns of the national delinquency rate, foreclosure inventory, and more.

According to Black Knight, the number of serious delinquencies (90-days or more past due) dropped to 471,000 units, the lowest reported since August 2006, a 27% year-over-year drop.

Black Knight reports that during the month of May, past-due mortgages approached recent record lows as the number of borrowers a single payment past due improved by 94,000.

Early-stage delinquencies (borrowers 30 days late) bore the brunt of the rise, increasing by 200K (+25%), which matches the impact of previous similar calendar-related events.

The rate ticked down 53 basis points to end March at its lowest level ever.

During the pandemic, an estimated 3.2 million foreclosure starts were prevented, along with the completion of approximately 1.5 million foreclosures.