by Calculated Risk on 9/21/2017 09:58:00 AM

From Black Knight: Black Knight’s First Look at August 2017 Mortgage Data: Hurricane Harvey Impact Already Being Felt in the Mortgage Market as Delinquencies Jump 16 Percent in Affected Areas

• Nationally, delinquencies remained relatively flat from July, while delinquencies in Hurricane Harvey- impacted areas rose by 16 percent month over month

• 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

According 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.

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
	Aug 2017	July 2017	Aug 2016	Aug 2015
Delinquent	3.93%	3.90%	4.24%	4.87%
In Foreclosure	0.76%	0.78%	1.04%	1.48%
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
Total Properties	2,388,000	2,384,000	2,678,000	3,161,000