Hurricanes Weren’t the Only Delinquency Disaster Last Year

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Posted To: MND NewsWire

Natural disasters were the backdrop for mortgage loan performance in 2017. CoreLogic has previously reported on delinquencies in Houston and throughout Florida in the wake of Hurricanes Harvey and Irma and in Puerto Rico after Hurricane Maria. In the company’s Loan Performance Report for December, Chief Economist Frank Nothaft said the West Coast was not immune from the impact of multiple disasters. “The wildfires in Sonoma and Napa [California] counties began October 8 and destroyed or damaged thousands of homes,” Nothaft said. “Two-and three-month delinquency rates have spiked in these two counties, more than doubling between October and December. The after effects of Hurricanes Harvey. Irma, and Maria continue to appear as well. Serious delinquency rates in the Houston and Miami metropolitan…(read more)

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