by Calculated Risk on 11/21/2017 08:01:00 AM

From Black Knight: Black Knight’s First Look at October 2017 Mortgage Data: National Delinquency Rate Sees Second Consecutive Annual Rise as Impact from Hurricanes Continues

• October’s 4BPS increase in the national delinquency rate can be directly linked to continued hurricane impact, while delinquencies fell 14BPS in non-affected areas

• Though delinquencies were down in all states except Texas and Florida, in FEMA-declared Hurricanes Harvey and Irma disaster areas, they rose another 24 percent (186BPS) in October

• The most notable increase was in Florida, where delinquencies spiked 36 percent from September in hurricane-affected areas

• Over 229,000 past-due mortgages can now be attributed to Hurricanes Irma (163,000) and Harvey (66,000)

• Total non-current inventories in Florida and Texas (all loans 30 or more days past due or in foreclosure) have risen 79 and 30 percent, respectively, over the past six months
...
• The inventory of loans in active foreclosure continues to improve, falling below 350,000 for the first time since 2006

According to Black Knight's First Look report for October, the percent of loans delinquent increased 0.9% in October compared to September, and increased 2.0% year-over-year.

The percent of loans in the foreclosure process declined 2.8% in October and were down 31.4% 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 4.44% in October, up from 4.40% in September.

The percent of loans in the foreclosure process declined in October to 0.68%.

The number of delinquent properties, but not in foreclosure, is up 60,000 properties year-over-year, and the number of properties in the foreclosure process is down 156,000 properties year-over-year.

Black Knight: Percent Loans Delinquent and in Foreclosure Process
	Oct 2017	Sept 2017	Oct 2016	Oct 2015
Delinquent	4.44%	4.40%	4.35%	4.77%
In Foreclosure	0.68%	0.70%	0.99%	1.43%
Number of properties:
Number of properties that are delinquent, but not in foreclosure:	2,262,000	2,245,000	2,202,000	2,415,000
Number of properties in foreclosure pre-sale inventory:	348,000	358,000	504,000	721,000
Total Properties	2,610,000	2,603,000	2,706,000	3,136,000