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FLORIDA
Delving into Delinquency Data: Hurricanes Continue to Impact
According to Black Knight's First Look at October 2017
mortgage data, delinquencies were down in all states except Texas
and Florida—as FEMA-declared Hurricanes Harvey and Irma
disaster areas increased another 24 percent in October.
e most notable increase was in Florida, where delinquencies
increased by 36 percent from September 2017 in hurricane-affected
areas. Meanwhile, the report attributes over 229,000 past-due
mortgages to Hurricanes Irma at 163,000 and Harvey at 66,000.
Total noncurrent inventories all loans 30 or more days past due or
in foreclosure, have risen in Florida by 79 percent and in Texas by 30
percent, over the past six months.
However, prepayment activity rebounded in October, reporting
an increase by 17 percent month-over-month, but still 25 percent
below 2016 levels. e inventory of loans in active foreclosure
continues to improve, dropping below 350,000 for the first time
since 2006.
e number of total national properties 30 or more days
delinquent, but not yet in foreclosure amounted to 2.262 million, an
increase of 17,000 month-over-month, and an increase of 60,000
year-over-year. e number of properties 90 days past due, yet still
not in foreclosure also increased month-over-month by 13,000, but
declined year-over-year to 88,000.
As of October 2017, the top five states by noncurrent percentages
were Mississippi, at 10.62 percent; Florida at 9.9 percent; Louisiana at
9.20 percent; Alabama at 7.33 percent; and Texas at 7.32 percent.
e bottom five states by noncurrent percentages were Montana
at 2.59 percent; Minnesota at 2.51 percent; Oregon at 2.44 percent;
North Dakota at 2.32 percent, and Colorado at 2.11 percent.
