by Calculated Risk on 5/23/2025 08:09:00 AM
From Intercontinental Exchange: ICE First Look at Mortgage Performance: Foreclosure Activity Edges Higher Following Recent Record Lows
Intercontinental Exchange, Inc. (NYSE:ICE) … today released its April 2025 First Look, which shows U.S. Department of Veterans Affairs (VA) mortgages progressing through the foreclosure pipeline following the recent moratorium expiration.
The ICE First Look reports on month-end delinquency, foreclosure and prepayment statistics sourced from its loan-level database, which covers a majority of the U.S. mortgage market. Key takeaways from this month’s findings include:
• The national delinquency rate ticked up 1 basis point (bp) to 3.22% in April and is up a modest 13 bps (4.1%) from the same time last year. Still, delinquencies remain below pre-pandemic levels.
• Serious delinquencies – loans 90+ days past due but not in foreclosure – improved seasonally but rose 14% from April 2024 marking the sixth consecutive month of 10%+ annual increases.
• While foreclosure activity remains muted, foreclosure starts (+13%), sales (+9%), and active inventory (+4%) all rose on an annual basis for the second consecutive month.
• April’s 6,500 foreclosure sales marked the largest single-month volume in 15 months, with VA sales, which account for the bulk of the recent rise, hitting their highest level since 2019.
• Prepayment activity, measured in single month mortality, jumped to 0.71%, the highest level since October. This rise was driven by stronger home sale and refinance-related prepayments, which grew +19.0% over the previous month and +34.9% over the previous year.
emphasis added
Click on graph for larger image.
Here is a table from ICE.
