by Calculated Risk on 6/24/2025 04:06:00 PM
From Intercontinental Exchange: ICE First Look at Mortgage Performance: Delinquencies Hold Steady and Foreclosure Sales Rise to Highest Level Since Early 2023
Intercontinental Exchange, Inc. (NYSE:ICE) … today released its May 2025 ICE First Look, which shows that delinquencies and foreclosure activity continues to trend slightly higher on an annual basis despite some seasonal and disaster recovery related improvement.
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 down 2 basis points (bps) to 3.20% in May, though it is up 5.2% (16 bps) year over year (YoY).
• Serious delinquencies – loans 90+ days past due but not in foreclosure – improved seasonally for the fifth consecutive month, but are still up 56K (14%) from the same time last year.
• Disaster-related delinquencies also improved, with those related to the 2024 hurricane season falling by nearly 5K (26%) month over month (MoM) and Los Angeles wildfire-related delinquencies falling by a more modest 9% MoM.
• Foreclosure starts and active foreclosure inventories climbed YoY, with May’s 7K foreclosure sales marking the largest single-month volume in more than two years.
• Prepayment activity, as measured by single month mortality, inched up to 0.71%, the highest level since October 2024, driven by a seasonal rise in home sale-related prepayments. Prepayments were up 23.4% YoY.
emphasis added
Here is a table from ICE.
