BKI - Mortgage delinquencies inch higher in December: Black Knight data

• Mortgage delinquencies inched higher in December, while serious delinquencies continued to improve nationally, according to data released by Black Knight ( NYSE: BKI ).
• National delinquency rate ticked up 7 bps to 3.08% in December, but ended the year 30 bps lower (-9%) Y/Y.
• Serious delinquencies, or loans that are 90+ days past due, continued to improve nationally in December, with 44 states seeing seriously past-due volumes decline.
• Florida saw 8.7K increase in serious delinquencies in the wake of Hurricane Ian.
• Prepayment activity fell to 0.39%, -2.7% M/M and -76.1% Y/Y, with single month mortality reaching a record low for the third straight time since 2000.
• Foreclosure starts increased 15% in December to 26.9K, but was still 30% below pre-pandemic levels, while active foreclosure inventory rose 2.3%.
• However, volumes remained subdued throughout 2022 after record lows seen in 2021 due to widespread moratoriums and forbearance protections.
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