60-Day Delinquency Rate Doubles in Hurricane-Impacted Areas

Posted To: MND NewsWire

In its Mortgage Monitor for September, Black Knight outlined the first wave of mortgage delinquencies that appeared to be arising out of Hurricanes Harvey and Irma that struck primarily in Texas and Florida in August and September. The Monitor for October updates that data and brings in new information on delinquencies in Puerto Rico, struck a few weeks later by Hurricane Maria. The company found a 31-basis point increase in the non-current rate in those areas affected by Hurricane Harvey. This was in addition to the 16 percent spike that occurred in the weeks following the storm. In addition to an increase of 19 percent in the 30-day bucket, those rolling into 60-days past due increased by 12 percent. The October increase contributed to a near doubling in the delinquency rate, from 5.9 percent...(read more)

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