Past-due mortgages increase after Harvey and Irma. by Alison McAvoy October 26, 2017. Following the aftermath of Hurricanes Harvey and Irma, the amount of non-current mortgages and mortgage delinquencies in Texas and Florida have risen significantly since this past September.
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Nationally, the number of non-current mortgages (those at least 30 days past-due or in active foreclosure) jumped by 214,000 (+9 percent), driven primarily by fallout from Hurricanes Harvey and Irma
According to mortgage delinquency data compiled by Black Knight, Inc., in November 2017, 90-day delinquent loan inventory saw the largest month-over-month increase in nine years due to the impacts of.
The usual seasonal effect on 30-day past due mortgages was felt in December with a 124,000-loan increase in non-disaster areas which were offset by a 35,000 decline in the storm sites. However serous.
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Mortgage delinquencies (30 days or more past due) decreased dramatically in January as the effects of hurricanes Harvey, Irma and Maria on the housing. of about 210,000 compared with December but.
11:20 ET Subscribe to our weekly e-newsletter, top news. loan-delinquency rate rises after recent hurricanes. The hurricanes that ravaged portions of Texas, the Gulf region and Puerto Rico have helped to push up loans delinquencies from historic lows.
· , the sheer volume of homes hit by Hurricane Irma will likely cause an increase in mortgage delinquencies, but the comparison with Katrina.
Mortgage lending grows riskier in Texas, Florida after hurricanes. Harvey and Irma hit, mortgage risk in Florida and Texas was decreasing, however the storms cause the trend to reverse course.
Hurricane fallout drives surge in past-due mortgages. in September given the fallout from Hurricanes Harvey and Irma, according to a first look at september mortgage performance statistics.
, the sheer volume of homes hit by Hurricane Irma will likely cause an increase in mortgage delinquencies, but the comparison with Katrina does not work because of the different natures of the storms.
Irma disaster areas recorded a 48% increase in non-current inventory, representing 84,000 mortgages. Harvey-affected areas posted a 67% increase in non-current inventory, or 52,000 mortgages.
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