by Calculated Risk on 9/21/2017 09:58:00 AM
Thursday, September 21, 2017
• Nationally, delinquencies remained relatively flat from July, while delinquencies in Hurricane Harvey- impacted areas rose by 16 percent month over monthAccording to Black Knight's First Look report for August, the percent of loans delinquent increased 0.7% in August compared to July, and declined 7.3% year-over-year.
• Despite most payments being due August 1, and the storm making landfall near the end of the month, its effect on mortgage delinquencies is already being felt
• Over 6,700 new 30-day delinquencies can be attributed to Harvey, while an additional 1,000 borrowers who were already 30-days past due missed an additional mortgage payment in August as a result of the storm
• Based on observations from previous hurricanes, the heaviest impact on mortgage delinquency rates will come in September
The percent of loans in the foreclosure process declined 3.3% in August and were down 27.2% 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 3.93% in August, up from 3.90% in July.
The percent of loans in the foreclosure process declined in August to 0.76%.
The number of delinquent properties, but not in foreclosure, is down 148,000 properties year-over-year, and the number of properties in the foreclosure process is down 142,000 properties year-over-year.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are delinquent, but not in foreclosure:||2,003,000||1,986,000||2,151,000||2,413,000|
|Number of properties in foreclosure pre-sale inventory:||385,000||398,000||527,000||748,000|
Posted by Calculated Risk on 9/21/2017 09:58:00 AM