Harvey's hit to mortgages could be four times worse than predicted-and. FEMA-designated disaster areas in Houston to those in Hurricane Katrina, and the. Total unpaid mortgage balances for Irma areas are $370 billion.
$700 billion unpaid mortgage balances in hurricane harvey and irma disaster areas email To The Scoop News – Bad motorycle on I75 at Sumter, all lanes are closed You May Also Like
Irma’s disaster area is nearly twice the national average.” Between the two hurricanes, 4.4 million borrowers representing $705 billion in unpaid principal balance (UPB) were affected. By volume, the GSEs and Ginnie Mae have the most exposure (3.2 million loans, $466 billion in UPB), but
FEMA Notice Declaring End to Disaster Incident Period for Hurricane Irma in Georgia. and Servicers Regarding Presidentially Declared Major Disaster Areas. Clarifications for Mortgage Loans Impacted by Hurricanes Harvey and Irma
Florida FEMA-designated disaster areas related to Hurricane Irma include over 3.1 million mortgaged propertiescontain nearly thr.
Combining the preliminary estimates for both Harvey and Irma suggests that over 3.3 million total mortgaged properties are located in Irma and Harvey-related FEMA Disaster zones, while the dollar amount of total unpaid mortgage balances in these two zones is massive: between Irma’s $517 billion and Harvey’s $179 billion, the total potential damage could impact as much as a $696 billion in notional mortgage values, which banks could be on the hook for if current occupiers decide to simply.
In dollar terms, this means that there is some $517 billion in unpaid principal balances in Irma-related disaster areas, nearly three times the amount as in those related to Harvey and more than 11 times of those connected to Katrina.
– Total unpaid mortgage balances in Hurricane Harvey-related FEMA disaster areas: 9 billion – Total unpaid mortgage balances in Hurricane Katrina-related FEMA disaster areas: $46 billion Black Knight will continue to monitor the longer-term impact of Hurricanes Harvey and Irma on mortgage performance moving forward and will report as appropriate.
Still, there are 1.18 million mortgaged properties in Harvey-related disaster areas, more than twice as many as were hit by Hurricane Katrina, with nearly four times the unpaid principal balance.
Average combined loan-to-value ratio for homeowners with mortgages in Hurricane Harvey-related disaster areas is 53 percent, holding an average of approximately $131,000 in equity per borrower Fewer than 0.5 percent of Hurricane Harvey-impacted borrowers were in negative equity positions prior to the storm; fewer than four percent have less than 10 percent equity 5.3 percent of borrowers in Hurricane.