US storms cause ‘remarkable’ spike in mortgage delinquencies

Hurricanes Harvey, Irma and Maria have caused US mortgage delinquencies to rise to the highest level in four years, but policies put in place by government sponsored agencies have largely insulated mortgage credit risk transfer investors from any fallout.

  • By David Bell
  • 29 Nov 2017
Data from the Mortgage Bankers Association for the third quarter showed significant increases in mortgage delinquency rates in all severity categories. The largest increase was in the 30-59 day delinquent category, which rose by 57bp from 2.27% in the second quarter to 2.84% in the third quarter, a ...

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