Skip to main content

Hurricane Damage Drives Up Delinquency Rate

Phil Hall
Nov 21, 2017
The national delinquency rate recorded its second year-over-year increase in October due to the impact of Hurricanes Harvey and Irma, according to new data from Black Knight Inc.

The national delinquency rate recorded its second year-over-year increase in October due to the impact of Hurricanes Harvey and Irma, according to new data from Black Knight Inc.
 
October saw a 2.05 percent year-over-year increase in the total U.S. loan delinquency rate and a 0.94 percent month-over-month increase. The delinquency rate in October was down in all states except in the FEMA-declared hurricane disaster areas in Florida and Texas, where they rose another 24 percent year-over-year in October. Florida was especially hard hit, with delinquencies up 36 percent from September in its hurricane-affected areas. More than 229,000 past-due mortgages can now be attributed to Hurricanes Irma (163,000) and Harvey (66,000).
 
Nonetheless, the inventory of loans in active foreclosure fell below 350,000 last month for the first time since 2006. The total foreclosure pre-sale inventory rate of 0.68 percent was 2.84 percent below the September level and 31.42 percent lower than the October 2016 level.
 
Black Knight’s data does not cover Puerto Rico and the impact that Hurricane Maria had on the island.

 
Published
Nov 21, 2017
FormFree Enters Deal To Offer Products to Lenders One Members

Mortgage Cooperative Hopes Automated Borrower Verification Tools Will Enhance Customer Experience

Industry News
Aug 03, 2021
AHP Servicing Names Charles Halko Jr. CFO

Brings 30-Years Of Experience to Chicago-Based Servicer

Industry News
Aug 03, 2021
Ready Capital Announces Deal To Acquire Red Stone

Real Estate Finance Company Expands In Multi-Family Affordable Housing Sector

Industry News
Aug 03, 2021
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021