ICE First Look at Mortgage Performance: Serious delinquencies hit 17-month high while foreclosure activity remains historically muted

Business Wire11-21 22:00

At 3.45% in October, the national delinquency rate was up 6% from the same time last year, marking five consecutive months of year-over-year increases While 30- & 60-day delinquencies decreased from ...

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While 30- & 60-day delinquencies decreased from September, seriously past due loans  continued their slow rise, now up 7.3% from last year and at the highest level since May 2023. Though both foreclosure starts  and completions  were up in October, both remain down from last year  and well below pre-pandemic levels. Likewise, foreclosure inventory was up a modest +1K in the month, but there are 28K fewer loans in active foreclosure than there were at this same time last year. Prepayment activity rose on easing interest rates to a level not seen in over two years  and nearly double where it was last October. ATLANTA & NEW YORK, November 21, 2024----Intercontinental Exchange, Inc. , a leading global provider of technology and data, reports the following \"first look\" at October 2024 month-end mortgage performance statistics derived from it","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU0154245756.USD":"BNP PARIBAS US MID CAP \"C\" (USD) ACC","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU0154245673.USD":"BNP PARIBAS US MID CAP \"C\" (USD) INC","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","BK4585":"ETF&股票定投概念","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","KIDS":"Orthopediatrics Corp","BK4112":"金融交易所和数据","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","ICE":"洲际交易所","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","BK4588":"碎股","LU1917777945.USD":"安联专题基金Cl AT Acc","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","BK4198":"医疗保健用品","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","GRO":"Brazil Potash Corp."},"translate_title":"ICE首先审视抵押贷款表现：严重拖欠率创17个月新高，而止赎活动仍处于历史低位","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GRO":1,"ICE":1,"KIDS":1},"content_text":"At 3.45% in October, the national delinquency rate was up 6% from the same time last year, marking five consecutive months of year-over-year increases\nWhile 30- & 60-day delinquencies decreased from September, seriously past due loans (90+ days) continued their slow rise, now up 7.3% from last year and at the highest level since May 2023\nThough both foreclosure starts (+12.2%) and completions (+10.1%) were up in October, both remain down from last year (-12.3% and -9.5%, respectively) and well below pre-pandemic levels\nLikewise, foreclosure inventory was up a modest +1K in the month, but there are 28K fewer loans in active foreclosure than there were at this same time last year\nPrepayment activity rose on easing interest rates to a level not seen in over two years (May 2022) and nearly double where it was last October\n\nATLANTA & NEW YORK, November 21, 2024--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, reports the following \"first look\" at October 2024 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.\n\n\n\nData as of Oct. 31, 2024\n\n\nTotal U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.45%\n\n\nMonth-over-month change: -0.79%\n\n\nYear-over-year change: 5.95%\n\n\n\n \n\n\nTotal U.S. foreclosure pre-sale inventory rate: 0.35%\n\n\nMonth-over-month change: 0.49%\n\n\nYear-over-year change: -14.52%\n\n\n\n \n\n\nTotal U.S. foreclosure starts: 29,000\n\n\nMonth-over-month change 12.15%\n\n\nYear-over-year change: -12.27%\n\n\n\n \n\n\nMonthly prepayment rate (SMM): 0.85%\n\n\nMonth-over-month change: 32.25%\n\n\nYear-over-year change: 96.07%\n\n\n\n \n\n\nForeclosure sales: 5,800\n\n\nMonth-over-month change: 10.09%\n\n\nYear-over-year change: -9.45%\n\n\n\n \n\n\nNumber of properties that are 30 or more days past due, but not in foreclosure:  1,869,000\n\n\nMonth-over-month change: -11,000\n\n\nYear-over-year change: 135,000\n\n\n\n \n\n\nNumber of properties that are 90 or more days past due, but not in foreclosure: 479,000\n\n\nMonth-over-month change: 4,000\n\n\nYear-over-year change: 33,000\n\n\n\n \n\n\nNumber of properties in foreclosure pre-sale inventory: 189,000\n\n\nMonth-over-month change: 1,000\n\n\nYear-over-year change: -28,000\n\n\n\n \n\n\nNumber of properties that are 30 or more days past due or in foreclosure: 2,058,000\n\n\nMonth-over-month change: -10,000\n\n\nYear-over-year change: 107,000\n\n\n\n \n\n\nTop 5 States by Non-Current* Percentage\n\n\nLouisiana:\n8.15%\n\n\nMississippi:\n8.04%\n\n\nAlabama:\n5.72%\n\n\nIndiana:\n5.41%\n\n\nArkansas:\n5.23%\n\n\n\n\n\n\nBottom 5 States by Non-Current* Percentage\n\n\nOregon:\n2.14%\n\n\nMontana:\n2.06%\n\n\nIdaho:\n2.05%\n\n\nColorado:\n2.04%\n\n\nWashington:\n2.03%\n\n\n\n \n\n\nTop 5 States by 90+ Days Delinquent Percentage\n \n\n\nMississippi:\n2.19%\n\n\nLouisiana:\n2.09%\n\n\nAlabama:\n1.53%\n\n\nArkansas:\n1.37%\n\n\nTexas:\n1.28%\n\n\n\n\n\n\nTop 5 States by 12-Month Change in Non-Current* Percentage\n\n\nHawaii:\n-15.67%\n\n\nNew York:\n-8.45%\n\n\nAlaska:\n-5.79%\n\n\nNorth Dakota:\n-4.85%\n\n\nIdaho:\n-4.27%\n\n\n\n\n\n\nBottom 5 States by 12-Month Change in Non-Current* Percentage\n\n\nFlorida:\n20.97%\n\n\nSouth Carolina:\n12.14%\n\n\nArizona:\n11.02%\n\n\nNorth Carolina:\n10.99%\n\n\nLouisiana:\n9.26%\n\n\n\n \n\n\n*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 McDash 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.\n\n\n\nThe 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://www.icemortgagetechnology.com/resources/data-reports by Dec. 9, 2024.\nFor more information about gaining access to ICE’s loan-level database, please send an email to Mortgage.Monitor@bkfs.com.\nAbout Intercontinental Exchange\nIntercontinental 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.\nTrademarks 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).\"\nSafe 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 in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.\nCategory: Mortgage Technology\nICE-CORP\nSource: Intercontinental Exchange\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241121030243/en/\nContacts\nICE Media Contact Mitch Cohenmitch.cohen@ice.com +1 704-890-8158\nICE Investor Contact: Katia Gonzalezkatia.gonzalez@ice.com +1 (678) 981-3882","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485497701"}