by Calculated Risk on 12/21/2017 12:46:00 PM

From Black Knight: Black Knight’s First Look at November 2017 Mortgage Data: Continued Hurricane-Driven Effects Lead to Largest 90-Day Delinquency Increase in Nine Years

• 90-day delinquent mortgage inventory spiked 13 percent in November, the largest monthly increase since 2008 as the financial crisis began to unfold

• While 90-day delinquency increases are common in November, the volumes seen this year are noteworthy

• Over 85 percent -- approximately 66,000 -- of the month’s 77,000 new severely delinquent loans can be attributed to hurricanes Harvey and Irma

• As a result, the current estimate of 90-day delinquencies resulting from Harvey and Irma totals over 85,000

According to Black Knight's First Look report for November, the percent of loans delinquent increased 2.5% in November compared to October, and increased 2.0% year-over-year.

The percent of loans in the foreclosure process declined 3.2% in November and were down 33% over the last year.

Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 4.55% in November, up from 4.44% in October.

The percent of loans in the foreclosure process declined in November to 0.66%.

The number of delinquent properties, but not in foreclosure, is up 61,000 properties year-over-year, and the number of properties in the foreclosure process is down 161,000 properties year-over-year.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	Nov 2017	Oct 2017	Nov 2016	Nov 2015
Delinquent	4.55%	4.44%	4.46%	4.92%
In Foreclosure	0.66%	0.68%	0.98%	1.38%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	2,324,000	2,262,000	2,263,000	2,491,000
Number of properties in foreclosure pre-sale inventory:	337,000	348,000	498,000	698,000
Total Properties	2,661,000	2,610,000	2,761,000	3,189,000