Past-due mortgages increase after Harvey and Irma

Back in September, after Harvey struck Texas, a Black Knight analysis predicted 160,000 borrowers could become 90 days or more late on their mortgage payments as a result of the storm. In November, there were 666,000 seriously delinquent loans, of which 77,000 entered that status because of the storms.

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Now almost two months after Hurricane Harvey, Black Knight's “first. rise in mortgage delinquencies (borrowers at least 30 days past-due but.

The Florida Housing Coalition is working with our state partners, most notably, Harvey, and any PDMDA designations resulting from Hurricane irma:. florida free Legal Answers now has a Hurricane Irma category and a temporary increase of. Late fees for mortgage, credit card, business banking and auto loans and.

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As of the end of November there were about 2.3 million homes in early stage delinquency (30 days or more past due but not in foreclosure), an increase of about 62,000. can be attributed to.

Those that were 90 or more days past due but were not in foreclosure totaled 576,000, up 19,000 from August but down 92,000 year-over-year. Areas hit by Harvey in Texas saw a 67 percent uptick in non-current inventory, while ravaged parts of Florida saw a 48 percent increase after Irma hit.

Past-due mortgages increase after Harvey and Irma. by Alison McAvoy October 26, 2017. Following the aftermath of Hurricanes Harvey and Irma, the amount of non-current mortgages and mortgage delinquencies in Texas and Florida have risen significantly since this past September.

Mortgage lending grows riskier in Texas, Florida after hurricanes. Harvey and Irma hit, mortgage risk in Florida and Texas was decreasing, however the storms cause the trend to reverse course.

According to the MBA’s Fourth Quarter 2017 National Delinquency Survey, general downward trends for mortgage delinquencies continued as 2017 wrapped up, even after the impact of. affected by.

, the sheer volume of homes hit by Hurricane Irma will likely cause an increase in mortgage delinquencies, but the comparison with Katrina does not work because of the different natures of the storms.

In recent weeks the United States has been hit with several natural disasters, leaving. Harvey and Hurricane Irma, while the Western United States is dealing with the. as late fees – for our lending products, including credit cards, auto loans, Emergency credit line increases;; Waived early withdrawal penalties on CDs.