Hurricane Damage Continues to Impact Mortgage Delinquencies

Feb 23, 2018

The frequency of defects, fraudulence and misrepresentation in mortgage loan applications was up last month by 1.3 percent from July and down 8.3 percent from one year ago, according to data from First American Financial Corp.

Mortgage delinquencies during January were down by 8.6 percent from the previous month but were 1.3 percent higher than one year ago, according to new data from Black Knight Inc.

January’s numbers were impacted by the tumult from Hurricanes Harvey and Irma: 146,000 loans remain delinquent as a result of the two weather catastrophes, of which 132,000 are considered seriously delinquent. Black Knight offered a separate analysis of the Puerto Rican mortgage market and determined 57,000 loans still delinquent as a result of Hurricane Maria, with 49,000 seriously delinquent.

Complicating matters are the expiration of the foreclosure moratoria connected to the hurricanes.

As a result, foreclosure starts rose sharply in January, hitting a 12-month high at 62,300 for the month. The quantity of loans in active foreclosure in January rose 6,000 month-over-month, marking only the second monthly rise in more than five years.

About the author

Phil Hall

Link copied

Published

Feb 23, 2018

C-Suite Strategies

UWM Renews Attack On CrossCountry Deal Ahead Of Vote

With Two Harbors shareholders set to vote June 23, UWM is again urging investors to reject CrossCountry's acquisition while the REIT argues UWM has failed to submit a revised proposal

UWM Holdings renewed its campaign to derail CrossCountry Mortgage's proposed acquisition of the mortgage REIT Two Harbors Investment Corp. on Monday, accusing the board of ignoring shareholders and refusing to engage with what UWM continues to call a superior offer.The lates...

Operations

UWM Rolls Out Doctor Loan Program

New offering provides up to 100% financing with no mortgage insurance for eligible healthcare professionals

United Wholesale Mortgage is expanding its product lineup with the launch of a Doctor Loan program designed to help medical professionals qualify for homeownership despite high student loan balances and limited savings for a down payment.The new program allows eligible healt...

Aug

San Diego, CA

More from

Industry News

Commercial, Multifamily Mortgage Debt Tops $5 Trillion In Q1

MBA says outstanding debt grew by $26.3 billion in the first quarter, led by multifamily lending and increased holdings from banks, agencies, and life insurers

Industry News

Jun 18, 2026

Fed Holds Rates Steady, But Outlook Dims For Mortgage Rate Relief

The Federal Reserve left rates unchanged but updated projections show more policymakers expecting additional hikes

Industry News

Jun 18, 2026

Congress Nears Final Vote On 21st Century ROAD to Housing Act

Senate voted 87-8 to advance House-amended package, with final votes expected in coming days

Industry News

Jun 17, 2026

Florida Pending Sales Signal Strong Summer Housing Market

Closed sales rise for a ninth straight month as inventory gives buyers more negotiating power