Delinquencies rose in November but remain historically low despite some worrying data about FHA and VA loans. That’s according to ICE’s First Look at November Mortgage Performance, which clocked delinquencies at 3.39% last month. This is down 10 bps YOY and remains 64 bps below pre-pandemic levels. Serious delinquencies– loans with missed payments more than…
Serious mortgage delinquencies fell to their lowest point since 1999 in August, but financial pressures could force them up in the future. In August, 2.6% of all U.S. mortgages were in some stage of delinquency, down 0.2% YOY and 0.1% from July 2023, according to CoreLogic’s latest Loan Performance Insights Report. Early-stage delinquencies and adverse…
Black Knight Origination Technologies has rebranded to Dark Matter Technologies after being acquired by Perseus Operating Group. Optimal Blue, Black Knight’s secondary market solutions and actionable data services business, was acquired by Perseus, part of Constellation Software Inc., in July. Dark Matter will remain in Florida and keep key executives. “We’re excited to invest in…
Mortgage activity dipped in August as rates reached new highs and inventory remained low, according to Black Knight’s latest Mortgage Monitor report. The 30-year conforming soared above 7.25% last month, its highest level in more than 20 years, before cooling down to 7.07%. As a result, overall rate lock volumes sank for a third straight…
By KIMBERLEY HAAS As officials at the Federal Trade Commission continue to review the proposed acquisition of Black Knight by Intercontinental Exchange, the top Democrat on the House Financial Services Committee is reiterating her concerns about the merger. U.S. Rep. Maxine Waters (D-CA) has said the two companies play a dominant role in the technology…
Rate lock volumes sank in July as mortgage rates exceeded 7% for the first time since November 2022. Black Knight’s Optimal Blue Mortgage Market Indices for July found that 30-year conforming rates cross 7% early in the month before bouncing down and up again, ultimately ending the month at 6.88%. In line with rising rates,…
Home price appreciation is back to breaking records after a period of declines, pushing homeownership further out of reach for many Americans. Black Knight’s Home Price Index hit an all-time high in June for both seasonally adjusted and unadjusted levels, up 0.67% from May and 0.8% YOY. This is a serious comeback after 14 straight…
Competition has returned full force to the housing market as demand for limited inventory sends home prices soaring. Black Knight’s latest Home Price Index hit a new record in May, with prices up 0.7% month-over-month and 8.9% YOY. This is the fifth consecutive month of gains. Many markets experienced home price declines in the last few…
Black Knight introduced a new app to speed up applications for home equity lines of credit, the company announced. The app, Validate, allows borrowers to include photos of their property as part of their application. The photos are then analyzed with AI to calculate the home’s condition in real-time, speeding up the approval process. Borrowers…
While May saw a more robust mortgage market, demand is still nowhere near normal. Black Knight’s latest Originations Market report found that though mortgage originations fared better in May than in April, they remain constrained. Overall rate lock volumes were up 14% month-over-month in May due to April having two fewer business days. Production was…
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