Loans late by 90 days or more are increasingly concentrated in parts of Florida, Georgia and southeast Texas as fallout from the storms continues to weigh on the market, National Mortgage News reported. Florida displaced Mississippi as the state with the biggest percentage of severe delinquencies during the month as a result, according to Black Knight's "First Look" report for December 2017. A total of 726,000 properties were 90 or more days past due, but not yet in foreclosure, last month. Of those, 142,000 are attributed to damage from Hurricanes Harvey and Irma. That raises the percentage of severely delinquent loans attributed to the two storms to almost 20 percent from less than 13 percent the previous month. Overall, severe delinquencies were up by 60,000 from November 2017 and 44,000 from December 2016 due to a combination of hurricane-related fallout and seasonal factors.
