- 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.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500
company that designs, builds and operates digital networks that
connect people to opportunity. We provide financial technology and
data services across major asset classes helping our customers
access mission-critical workflow tools that increase transparency
and efficiency. ICE’s futures, equity, and options exchanges –
including the New York Stock Exchange – and clearing houses help
people invest, raise capital and manage risk. We offer some of the
world’s largest markets to trade and clear energy and environmental
products. Our fixed income, data services and execution
capabilities provide information, analytics and platforms that help
our customers streamline processes and capitalize on opportunities.
At ICE Mortgage Technology, we are transforming U.S. housing
finance, from initial consumer engagement through loan production,
closing, registration and the long-term servicing relationship.
Together, ICE transforms, streamlines and automates industries to
connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located here. Key Information Documents for certain
products covered by the EU Packaged Retail and Insurance-based
Investment Products Regulation can be accessed on the relevant
exchange website under the heading “Key Information Documents
(KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 – Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors ICE's
Annual Report on Form 10-K for the year ended December 31, 2024, as
filed with the SEC on February 6, 2025.
Category: Mortgage Technology
ICE-CORP
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250221691052/en/
ICE Media Contact Brad Kuhn brad.kuhn@ice.com +1
(904) 248-6341 media@ice.com
ICE Investor Contact: Katia Gonzalez
katia.gonzalez@ice.com +1 (678) 981-3882
investors@ice.com
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