Vermont Business Magazine Vermont is recovering more slowly than most states from mortgage failures as part of the Great Recession. Vermont had fewer foreclosures than most states, but is working through the process of reconciling non-current mortgages more slowly. Vermont now is at about the national average for non-current mortgages after having been on the low or very low end of the range for most of the period starting in 2008. The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) reports the following "first look" at July 2016 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
Vermont ranks fifth (worst) in the decline in non-current mortgages over the last six months. But even there, the state is still about 10 percent better than it was a six months and a year ago. Vermont peaked at 9.55 percent of all mortgages listed as non-current in December of 2012 and is now down to 5.78 percent. As of June, 3.7 percent of Vermont mortgages were delinquent, 1.8 percent were in foreclosure for a 5.5 percent total non-current (the US average is 5.4 percent). Vermont is a "judicial state" which results in a slower foreclosure process.
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 4.51%
Month-over-month change: 4.78%
Year-over-year change: -3.38%
Total U.S. foreclosure pre-sale inventory rate: 1.09%
Month-over-month change: -1.68%
Year-over-year change: -28.36%
Total U.S. foreclosure starts: 61,300
Month-over-month change: -11.54%
Year-over-year change: -14.27%
Monthly Prepayment Rate (SMM): 1.26%
Month-over-month change: -11.98%
Year-over-year change: -1.00%
Foreclosure Sales as % of 90+: 1.99%
Month-over-month change: -13.65%
Year-over-year change: 1.05%
Number of properties that are 30 or more days past due, but not in foreclosure: 2,286,000
Month-over-month change: 108,000
Year-over-year change: -70,000
Number of properties that are 90 or more days past due, but not in foreclosure: 695,000
Month-over-month change: 3,000
Year-over-year change: -147,000
Number of properties in foreclosure pre-sale inventory: 550,000
Month-over-month change: -8,000
Year-over-year change: -214,000
Number of properties that are 30 or more days past due or in foreclosure: 2,836,000
Month-over-month change: 100,000
Year-over-year change: -284,000
Top 5 States by Non-Current* Percentage
| Mississippi: | 11.67% |
| Louisiana: | 9.63% |
| New Jersey: | 8.95% |
| West Virginia: | 8.34% |
| Alabama: | 8.21% |
Bottom 5 States by Non-Current* Percentage
| South Dakota: | 3.13% |
| Montana: | 3.13% |
| Minnesota: | 2.92% |
| Colorado: | 2.71% |
| North Dakota: | 2.56% |
Top 5 States by 90+ Days Delinquent Percentage
| Mississippi: | 3.56% |
| Louisiana: | 2.69% |
| Alabama: | 2.45% |
| Arkansas: | 2.06% |
| Tennessee: | 2.04% |
Top 5 States by 6-Month Improvement in Non-Current* Percentage
| Nevada: | -17.28% |
| Nebraska: | -15.41% |
| Florida: | -15.33% |
| Washington: | -15.13% |
| Oregon: | -14.91% |
Top 5 States by 6-Month Deterioration in Non-Current* Percentage
| North Dakota: | 6.21% |
| Alaska: | 4.72% |
| Wyoming: | 2.27% |
| Louisiana: | -8.21% |
| Vermont: | -9.23% |
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
Notes:
- Totals are extrapolated based on Black Knight Financial Services' loan-level database of mortgage assets.
- All whole numbers are rounded to the nearest thousand, except foreclosure starts, which are rounded to the nearest hundred.
About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE: BKFS), a Fidelity National Financial (NYSE: FNF) company, is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.
Source: JACKSONVILLE, Fla., Aug. 22, 2016 /PRNewswire/ -- The Data & Analytics division of Black Knight Financial Services, Inc