Foreclosures, Inventories Move Higher as Hurricane Moratorium Ends

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Posted To: MND NewsWire

The effects of last summer’s hurricanes, while fading from their early impact on loan performance stats, are still being felt. Black Knight reports, in its “First Look” at January data, that past due mortgages nationwide declined by 8.6 percent or 210,000 loans when compared to December but are still 1.3 percent higher than in January 2017. The U.S. delinquency rate in January was 4.41 percent including all past due loans not yet in foreclosure. Hurricanes Harvey and Irma are blamed for 146,000 loans that remain delinquent in Texas and Florida. Of those, 132,000 are now seriously delinquent, that is 90 or more days past due Puerto Rico is not usually included in national delinquency statistics, but Black Knight says 57,000 loans remain delinquent in the territory because of Hurricane Maria…(read more)

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