.jpg)
- Delinquencies fell 24 basis points (bps) to 3.47% in January; that’s 10 bps higher than last year, but 33 bps below pre-pandemic levels
- Foreclosure starts jumped by 30% and sales rose by 25% in January – driven by an expiration in the VA foreclosure moratorium – with active inventory rising by 7% in the month
- While the number of borrowers past due as a result of last year’s hurricanes has fallen from 58K to 41K in recent months, the financial impact from the recent Los Angeles wildfires is emerging
- An estimated 680 homeowners in the path of the Los Angeles wildfires missed their January mortgage payment, and ICE daily mortgage performance data through Feb. 17 suggests as many as 3,300 borrowers may be at risk of missing their February payment
- Prepayment activity (SMM) fell to 0.48% in January, its lowest level in nearly a year, driven by the combination of modestly higher rates and the typical seasonal slowdown in home sale activity
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, reports the following “first look” at January 2025 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
Data as of Jan. 31, 2025
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.47%
Month-over-month change: -6.56%
Year-over-year change: 2.83%
Total U.S. foreclosure pre-sale inventory rate: 0.38%
Month-over-month change: 7.20%
Year-over-year change: -7.41%
Total U.S. foreclosure starts: 40,000
Month-over-month change 29.82%
Year-over-year change: 17.53%
Monthly prepayment rate (SMM): 0.48%
Month-over-month change: -16.13%
Year-over-year change: 21.71%
Foreclosure sales: 6,300
Month-over-month change: 24.82%
Year-over-year change: -5.04%
Number of properties that are 30 or more days past due, but not in foreclosure: 1,885,000
Month-over-month change: -131,000
Year-over-year change: 82,000
Number of properties that are 90 or more days past due, but not in foreclosure: 540,000
Month-over-month change: -1,000
Year-over-year change: 70,000
Number of properties in foreclosure pre-sale inventory: 206,000
Month-over-month change: 14,000
Year-over-year change: -13,000
Number of properties that are 30 or more days past due or in foreclosure: 2,091,000
Month-over-month change: -117,000
Year-over-year change: 70,000
|
Top 5 States by Non-Current* Percentage |
|
|
Louisiana: |
8.37% |
|
Mississippi: |
8.05% |
|
Alabama: |
5.86% |
|
Indiana: |
5.43% |
|
Arkansas: |
5.33% |
|
|
|
|
Bottom 5 States by Non-Current* Percentage |
|
|
Oregon: |
2.18% |
|
Colorado: |
2.09% |
|
Montana: |
2.06% |
|
Idaho: |
2.00% |
|
Washington: |
1.99% |
|
Top 5 States by 90+ Days Delinquent Percentage |
|
|
Mississippi: |
2.28% |
|
Louisiana: |
2.26% |
|
Florida: |
1.69% |
|
Alabama: |
1.61% |
|
Georgia: |
1.49% |
|
Top 5 States by 12-Month Change in Non-Current* Percentage |
|
|
Hawaii: |
-11.18% |
|
Alaska: |
-10.55% |
|
Rhode Island: |
-10.24% |
|
New York: |
-9.90% |
|
North Dakota: |
-9.70% |
|
|
|
|
Bottom 5 States by 12-Month Change in Non-Current* Percentage |
|
|
Florida: |
19.32% |
|
North Carolina: |
9.60% |
|
Arizona: |
8.42% |
|
South Carolina: |
7.55% |
|
Georgia: |
6.98% |
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
Notes:
1) Totals are extrapolated based on ICE’s loan-level database of mortgage assets.
2) All whole numbers are rounded to the nearest thousand, except foreclosure starts and sales, which are rounded to the nearest hundred.
The company will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by detailed charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available online at https://mortgagetech.ice.com/resources/data-reports by March 3, 2025.
For more information about gaining access to ICE’s loan-level database, please send an email to ICE-MortgageMonitor@ice.com.
