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O R I G I NAT I O N S E R V I C I N G A NA LY T I C S S E C O N DA R Y M A R K E T ANALYTICS AROUND THE U.S. ANALYTICS California 912,500 $299,386,635 Texas 513,200 $108,871,248 Florida 476,100 $105,652,879 New York 396,300 $135,271,068 Illinois 231,800 $55,768,153 Pennsylvania 225,900 $50,801,957 Georgia 220,700 $50,673,723 Washington 219,300 $57,837,532 Virginia 213,000 $59,563,874 North Carolina 204,400 $44,386,886 Michigan 202,400 $39,521,159 Arizona 201,800 $39,000,935 Ohio 201,600 $39,333,588 Colorado 181,100 $43,244,926 New Jersey 173,400 $54,122,971 Minnesota 171,000 $39,330,772 Oregon 154,000 $37,236,278 Maryland 143,400 $43,026,081 Indiana 120,200 $21,330,499 Tennessee 118,900 $24,850,462 Missouri 109,800 $20,682,345 Massachusetts 98,900 $31,762,401 South Carolina 97,300 $20,948,300 Nevada 82,900 $17,581,731 Wisconsin 76,900 $15,634,645 Alabama 76,200 $16,141,805 Kentucky 72,100 $13,563,039 Utah 70,700 $16,756,285 Louisiana 69,600 $14,705,840 Connecticut 58,800 $17,691,258 Oklahoma 57,900 $11,040,358 Idaho 51,500 $10,647,790 Iowa 48,700 $8,345,409 Kansas 46,700 $8,782,789 New Mexico 46,200 $10,470,225 Arkansas 43,800 $7,984,692 Nebraska 33,300 $5,745,601 Hawaii 28,100 $12,278,783 Delaware 26,700 $7,009,791 New Hampshire 26,100 $6,913,984 Montana 25,600 $5,555,794 Mississippi 24,200 $5,023,580 Maine 20,100 $4,776,631 District of Columbia 18,500 $6,578,328 West Virginia 18,400 $3,720,710 Rhode Island 15,800 $4,373,090 Alaska 12,600 $3,369,254 South Dakota 12,600 $2,280,199 Wyoming 11,500 $2,671,881 Vermont 9,400 $2,263,283 North Dakota 9,000 $1,557,989 Source: Black Knight Financial Services January 2016 Mortgage Monitor and NerdWallet Analysis of Black Knight Data 58 | TH E M R EP O RT STATE REFINANCE TARGETS Untapped Refi Candidates F or years, interest rates have been settled at historic lows, which have opened up opportunities for homeowners to refinance their homes. The problem is homeowners are not taking advantage of these untouched savings. Refinances could soon be on the rise, according to data from the Black Knight Financial Services Mortgage Monitor. According to the report, the number of borrowers who could both qualify and benefit from a refinance increased by 1.5 million—all since January 1 of this year. In total, the report shows there are now 6.7 million borrowers who could qualify for a refinance and save an average of $3,000 per year. Broken down, 3.3 million of those borrowers could expect to save $200 or more per month, and another million could save as much as $400 or more per month. A state-by-state analysis by NerdWallet using Black Knight Financial Services data found that California, Texas, and Florida offer the most refinance targets that have an incentive to refinance their home. These borrowers have a mean credit score <=720, a LTV <=80 percent, and a high enough current mortgage rate to be worth refinancing (75 basis points or higher than 3.65 percent), Kamran Rosen, a data analyst at NerdWallet, told MReport. $299 $109 $106 $135 $56 $51 $51 $58 $60 $44 $40 $39 $39 $43 $54 $39 $37 $43 $21 $25 $21 $32 $21 $18 $16 $16 $14 $17 $15 $18 $11 $11 $8 $9 $10 $8 $6 $12 $7 $7 $6 $5 $5 $7 $4 $4 $3 $2 $3 $2 $2 TOTAL STATEWIDE POTENTIAL SAVINGS (dollar value rounded to the nearest million)