Foreclosures

October’s prepay speeds at highest in over three years

Low mortgage rates that continued in October brought prepayment speeds to their highest share in approximately three-and-a-half years, the ICE Mortgage Technology First Look report said. The monthly prepayment rate of 1.01% was up by 36.84% over September, when it was 74 basis points, and by 19.29% as compared to October 2024’s 85 basis points. […]

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Mortgage field safety spotlighted after October murder

Whether they take photos, change locks or serve legal documents, mortgage inspectors and other field personnel need to plan for unexpected and dangerous situations on the job.  The nature of the work means personal security can’t be compromised.  “I’ve been in this game for a while now, and I totally agree that safety is No.

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Mortgage delinquency levels rise on softer FHA performance

Mortgage delinquencies increased by 6 basis points from the second quarter, as the performance of Federal Housing Administration-insurance loans declined, the Mortgage Bankers Association National Delinquency Survey found. Recently, ICE Mortgage Technology executive Andy Walden said FHA loan performance trends were a yellow flag for the mortgage industry. Delinquent mortgages made up 3.99% of all

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Foreclosures climb for eighth straight month

Foreclosures increased for the eighth consecutive month in October, as high costs continue to push activity toward pre-pandemic levels. Total foreclosures in the United States eclipsed 36,000 last month, up 3% from September and 19% from the same time a year ago, according to ATTOM‘s latest foreclosure market report. “Even with these increases, activity remains

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FHA foreclosures drag down strong mortgage performance

Mortgage performance remained strong in September despite Federal Housing Administration loans driving up total foreclosures, according to new industry data. Overall foreclosure volume remained historically low, with foreclosure sales reaching 21,000 in the third quarter this year, roughly half of 2019’s pre-pandemic levels, according to a report from ICE Mortgage Technology. FHA loans accounted for

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Supreme Court rejects petition on New York foreclosure law

The Supreme Court has declined to review a challenge to retroactive interpretation of a New York law that applies a new statute of limitations to foreclosures. The high court turned down without explanation a petition for a writ of certiorari in the case US Bank National Association, Trustee v. Cassandra Fox, marking the end of

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Foreclosures tick up in Q3, signaling borrower stress

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Foreclosure sales inch up, consumer credit issues spread

Foreclosure sales inched another notch up as credit issues in the broader consumer credit market rose to a new level, according to the respective findings in two new August reports. Sales of foreclosure properties in ICE Mortgage Technology’s latest First Look report ran 22.52% ahead of last year’s rates and crept up by 0.55% on

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Foreclosure starts jump 17% as borrower strain mounts

Foreclosure starts are notably up from last summer as the strain of today’s high-cost environment is affecting more borrowers.  Lenders began the foreclosure process on 24,254 properties last month, up more than 17% from last August according to Attom. The total 35,697 U.S. properties with foreclosure filings last month represented 1 in every 3,987 homes

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FAPA disrupts market as petition pends before Supreme Court

A securitization trustee is petitioning the Supreme Court to hear New York’s Foreclosure Abuse Prevention Act, but the wheels of justice turn slowly, in the interim the law raises concerns for various industry stakeholders. “They haven’t decided whether to review it or not, but that will be conferenced by the justices of the Supreme Court,”

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