by Calculated Risk on 1/23/2018 09:22:00 AM

From Black Knight: Black Knight’s First Look at December 2017 Mortgage Data: 90-Day Delinquencies Jump Again as Hurricane Fallout Continues

• An additional 60,000 mortgages became 90 days delinquent in December, driven by both continued hurricane-related fallout as well as upward seasonal and calendar-related pressures

• There are now 142,700 90+ days delinquent loans attributed to Hurricanes Harvey and Irma, representing 20 percent of all severely delinquent loans nationwide

• 102,500 severely delinquent loans in affected areas of Florida and Georgia can be attributed to Hurricane Irma, while another 40,200 are the result of Hurricane Harvey in southeastern Texas

• The overall delinquency rate (representing loans 30 or more days past due, but not yet in active foreclosure) also rose another 3.47 percent to its highest level since early 2016

• December’s 6.54 percent year-over-year rise marked the fourth consecutive month of annual increases to the national delinquency rate

• The inventory of loans in active foreclosure continues to improve, falling 152,000 from last year for a 32 percent annual decline

According to Black Knight's First Look report for December, the percent of loans delinquent increased 3.5% in December compared to November, and increased 6.5% year-over-year.

The percent of loans in the foreclosure process declined 2.2% in December and were down 32% 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 4.71% in December, up from 4.55% in November.

The percent of loans in the foreclosure process declined in December to 0.65%.

The number of delinquent properties, but not in foreclosure, is up 44,000 properties year-over-year, and the number of properties in the foreclosure process is down 152,000 properties year-over-year.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	Dec 2017	Nov 2017	Dec 2016	Dec 2015
Delinquent	4.71%	4.55%	4.42%	4.78%
In Foreclosure	0.65%	0.66%	0.95%	1.37%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	2,412,000	2,324,000	2,248,000	2,408,000
Number of properties in foreclosure pre-sale inventory:	331,000	337,000	483,000	689,000
Total Properties	2,743,000	2,661,000	2,731,000	3,097,000