96
SOUTHERN STATES
DOMINATING DEFAULT AND
FORECLOSURE VOLUMES
Southern states including Mississippi, Louisiana, Alabama, and Arkansas held some of the largest volumes of non-current loans in the country. As
of December 2019, Mississippi holds the highest volume at 9.99%, though this is a month-over-month decline from November's 10.44%, and a 0.93%
decline year-over-year, according to Black Knight's First Look at December 2019 data.
All five top states in non-current percentages have seen marked declines over the year, with the biggest decline in Louisiana, where the non-current
percentage fell by 6.81% from December 2018.
Repayment activity ticked upward at the end of 2019, indicating a "flattening effect on refinance activity." After falling by 19% in November,
prepayment rates increased in December, and Black Knight suggests that the recent leveling off of interest rates has had a flattening effect, but
prepayments are still up 126% from this time last year.
Black Knight also covered which states saw the biggest changes in volumes.
Source: Black Knight's First Look at December 2019 data
Bottom 5 States by 6-Month Deterioration
STATE
Change in Non-Current
Percentage
Arkansas -2.53%
Arizona -4.35%
Nevada -4.62%
Illinois -4.66%
West Virginia -4.73%
Top Five States by Six-Month Improvement
STATE
Change in Non-Current
Percentage
Montana -16.53%
Washington -16.18%
District of Columbia -15.9%
Idaho -14.76%
North Dakota -14.32%
The Big Finish
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Lowest Non-Current Percentages By State
STATE
Non-Current Percentage
California 2.01%
Idaho 1.91%
Oregon 1.84%
Washington 1.77%
Colorado 1.74%
Highest Non-Current Percentages by State
STATE
Non-Current Percentage
Mississippi 9.99%
Louisiana 7.58%
West Virginia 6.54%
Alabama 6.53%
Arkansas 6.07%
