Safeguard Properties

OCC Reports Mortgage Performance for Third Quarter of 2025

Posted on December 16, 2025 by Safeguard

Industry Update
December 15, 2025

Source: Office of the Comptroller of the Currency

The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the third quarter of 2025.

The OCC Mortgage Metrics Report, Third Quarter 2025 showed that 97.4 percent of mortgages included in the report were current and performing at the end of the quarter, remaining unchanged from 97.4 percent one year earlier.

The percentage of seriously delinquent mortgages – mortgages that are 60 or more days past due and all mortgages held by bankrupt borrowers whose payments are 30 or more days past due – also remained unchanged from the third quarter of 2024.

Servicers initiated 7,903 new foreclosures in the third quarter of 2025 showing an increase from the previous quarter and an increase from a year earlier.

Servicers completed 8,190 modifications during the third quarter of 2025, a 2.7 percent decrease from the previous quarter’s 8,419 modifications. Of these 8,190 modifications, 7,755, or 94.7 percent, were “combination modifications” — modifications that included multiple actions affecting the affordability and sustainability of the loan, such as an interest rate reduction and a term extension.

The first-lien mortgages included in the OCC’s quarterly report comprise approximately 20 percent of all residential mortgage debt outstanding in the United States or approximately 10.5 million loans totaling $2.7 trillion in principal balances.

This report provides information on mortgage performance through September 30, 2025, and is available on the OCC’s website.

With this publication, the OCC is transitioning to a new online version of the quarterly Mortgage Metrics Report that provides additional transparency into and search capability for the contents of all OCC mortgage metric report data compiled since the third quarter of 2016. On the new interactive webpage, data will be available for download in a variety of formats and based on timespan selected by users.

For full report, please click the source link above.

U.S. Foreclosure Rates by State – November 2025

Posted on December 16, 2025 by Safeguard

Industry Update
December 12, 2025

Source: ATTOM

What Is the Current Foreclosure Rate in the U.S.?

In November 2025, U.S. foreclosure activity dipped slightly from the prior month but continued to trend higher than a year earlier.

Total filings: 35,651 properties with default notices, scheduled auctions, or bank repossessions

Monthly change: Down 3% from October 2025

Year-over-year change: Up 21% from November 2024

National rate: One in every 3,992 housing units had a foreclosure filing

States with the worst foreclosure rates: Delaware, South Carolina, Nevada, New Jersey, and Florida

Foreclosure Starts and Completions

Starts: Lenders initiated foreclosure proceedings on 23,720 U.S. properties during November 2025 — a 6% decrease from October but still 17% above the level seen one year ago.

Completions (REOs): Lenders repossessed 3,884 properties, essentially flat month-over-month but up 26% compared to November 2024.

What’s Driving November 2025 Foreclosure Trends?

Foreclosure rates in November 2025 were highest in Delaware, South Carolina, and Nevada, with New Jersey and Florida also among the most affected states. This geographic spread, from the Mid-Atlantic to the Southeast and West, suggests that foreclosure activity is being shaped by nationwide affordability hurdles, persistent borrowing costs, and localized market pressures rather than a single regional driver.

Foreclosure Rates by State – November 2025

Below is the complete state-by-state foreclosure ranking for November 2025 and the top 4 counties with the worst foreclosure rates per state.

Delaware

1 in every 1,924 housing units (238 filings / 457,958 units)

Counties: New Castle, Kent, Sussex

South Carolina

1 in every 1,973 housing units (1,217 filings / 2,401,638 units)

Counties: Dorchester, Spartanburg, Richland, Kershaw

Nevada

1 in every 2,373 housing units (551 filings / 1,307,338 units)

Counties: Lyon, Clark, Lincoln, Elko

New Jersey

1 in every 2,511 housing units (1,504 filings / 3,775,842 units)

Counties: Salem, Cumberland, Sussex, Gloucester

Florida

1 in every 2,565 housing units (3,930 filings / 10,082,356 units)

Counties: Hendry, Hamilton, Wakulla, Charlotte

Indiana

1 in every 2,802 housing units (1,054 filings / 2,953,344 units)

Counties: Martin, Pike, Perry, Lake

Illinois

1 in every 3,028 housing units (1,798 filings / 5,443,501 units)

Counties: Marshall, Kankakee, Will, Mason

Pennsylvania

1 in every 3,163 housing units (1,827 filings / 5,779,663 units)

Counties: Philadelphia, Potter, Delaware, Warren

Utah

1 in every 3,233 housing units (369 filings / 1,193,082 units)

Counties: Carbon, Piute, Tooele, Millard

Maryland

1 in every 3,349 housing units (760 filings / 2,545,532 units)

Counties: Baltimore City, Charles, Kent, Calvert

Ohio

1 in every 3,576 housing units (1,474 filings / 5,271,573 units)

Counties: Cuyahoga, Knox, Jefferson, Columbiana

Iowa

1 in every 3,697 housing units (386 filings / 1,427,175 units)

Counties: Adams, Wayne, Decatur, Pocahontas

Idaho

1 in every 3,716 housing units (209 filings / 776,683 units)

Counties: Washington, Payette, Lincoln, Oneida

Texas

1 in every 3,765 housing units (3,158 filings / 11,890,808 units)

Counties: Liberty, Archer, Terry, Caldwell

Oklahoma

1 in every 3,783 housing units (466 filings / 1,763,036 units)

Counties: Logan, Ottawa, Jackson, Seminole

Louisiana

1 in every 3,885 housing units (539 filings / 2,094,002 units)

Counties: Tangipahoa, Livingston, Red River, Iberville

Arizona

1 in every 3,948 housing units (796 filings / 3,142,443 units)

Counties: Graham, Pinal, Cochise, Greenlee

North Carolina

1 in every 4,077 housing units (1,181 filings / 4,815,195 units)

Counties: Gates, Hertford, Cleveland, Hoke

California

1 in every 4,112 housing units (3,534 filings / 14,532,683 units)

Counties: Lake, Madera, Shasta, Butte

Alaska

1 in every 4,196 housing units (76 filings / 318,927 units)

Counties: Sitka, Aleutians West, Southeast Fairbanks, Kenai Peninsula

Georgia

1 in every 4,295 housing units (1,044 filings / 4,483,873 units)

Counties: Crawford, McIntosh, Lanier, Baldwin

Arkansas

1 in every 4,403 housing units (314 filings / 1,382,664 units)

Counties: Sharp, Crittenden, Desha, Hot Spring

Wyoming

1 in every 4,586 housing units (60 filings / 275,131 units)

Counties: Campbell, Converse, Fremont, Natrona

Alabama

1 in every 4,651 housing units (498 filings / 2,316,192 units)

Counties: Perry, Hale, Franklin, Monroe

New York

1 in every 4,776 housing units (1,788 filings / 8,539,536 units)

Counties: Rockland, Nassau, Putnam, Cayuga

Minnesota

1 in every 4,931 housing units (511 filings / 2,519,538 units)

Counties: Pipestone, Stearns, Pine, Sherburne

Michigan

1 in every 5,116 housing units (899 filings / 4,599,683 units)

Counties: Saint Clair, Tuscola, Shiawassee, Oceana

Kentucky

1 in every 5,263 housing units (382 filings / 2,010,655 units)

Counties: Boyd, Simpson, Breckinridge, Henry

Connecticut

1 in every 5,279 housing units (291 filings / 1,536,049 units)

Counties: Northeastern Connecticut, South Central Connecticut, Northwest Hills, Southeastern Connecticut

Virginia

1 in every 5,328 housing units (686 filings / 3,654,784 units)

Counties: Petersburg City, Dinwiddie, Martinsville City, Emporia City

Colorado

1 in every 5,336 housing units (477 filings / 2,545,124 units)

Counties: Logan, Jackson, Pueblo, Morgan

New Mexico

1 in every 5,553 housing units (171 filings / 949,524 units)

Counties: Roosevelt, Valencia, Chaves, Colfax

Maine

1 in every 5,656 housing units (132 filings / 746,552 units)

Counties: Somerset, Oxford, Penobscot, York

Washington

1 in every 5,734 housing units (569 filings / 3,262,667 units)

Counties: Wahkiakum, Clallam, Cowlitz, Lewis

Oregon

1 in every 5,818 housing units (316 filings / 1,838,631 units)

Counties: Wheeler, Crook, Columbia, Lake

Tennessee

1 in every 5,863 housing units (528 filings / 3,095,472 units)

Counties: Hickman, Hancock, Trousdale, Meigs

Rhode Island

1 in every 6,213 housing units (78 filings / 484,615 units)

Counties: Providence, Kent, Washington, Bristol

Missouri

1 in every 6,754 housing units (416 filings / 2,809,501 units)

Counties: Chariton, Clinton, Audrain, Knox

New Hampshire

1 in every 6,854 housing units (94 filings / 644,253 units)

Counties: Cheshire, Sullivan, Coos, Rockingham

Massachusetts

1 in every 7,299 housing units (413 filings / 3,014,657 units)

Counties: Franklin, Berkshire, Plymouth, Hampden

Nebraska

1 in every 8,821 housing units (97 filings / 855,631 units)

Counties: Clay, Jefferson, Scotts Bluff, Hamilton

Wisconsin

1 in every 9,139 housing units (301 filings / 2,750,750 units)

Counties: Iron, Racine, Ashland, Dodge

Hawaii

1 in every 9,911 housing units (57 filings / 564,905 units)

Counties: Hawaii, Honolulu, Maui, Kauai

North Dakota

1 in every 11,360 housing units (33 filings / 374,866 units)

Counties: Foster, Stark, McHenry, Pembina

Mississippi

1 in every 11,795 housing units (113 filings / 1,332,811 units)

Counties: Humphreys, Stone, Chickasaw, Claiborne

Montana

1 in every 12,161 housing units (43 filings / 522,939 units)

Counties: Golden Valley, Fallon, Big Horn, Mineral

Kansas

1 in every 13,529 housing units (95 filings / 1,285,221 units)

Counties: Morton, Rush, Stafford, Scott

Vermont

1 in every 28,089 housing units (12 filings / 337,072 units)

Counties: Orleans, Washington, Rutland, Windsor

West Virginia

1 in every 33,064 housing units (26 filings / 859,653 units)

Counties: Jefferson, Marion, Roane, McDowell

South Dakota

1 in every 44,323 housing units (9 filings / 398,903 units)

Counties: Hughes, Brown, Minnehaha

For full report, please click the source link above.

FEMA Emergency Management Declaration – Washington Severe Storms, Straight-line Winds, Flooding, Landslides, and Mudslides

Posted on December 15, 2025 by Safeguard

FEMA Alert
December 12, 2025

FEMA has issued an Emergency Management Declaration for the state of Washington to supplement state, tribal and local recovery efforts in areas affected by severe storms, straight-line winds, flooding, landslides and mudslides beginning December 9, 2025 and continuing. The following counties have been approved for assistance:

Public Assistance:

Benton
Chelan
Clallam
Grays Harbor
Jefferson
King
Kittitas
Lewis
Mason
Pierce
Samish
Skagit
Snohomish
Thurston
Wahkiakum
Whatcom
Yakima

Washington Severe Storms, Straight-line Winds, Flooding, Landslides, and Mudslides (EM-3629-WA)

President Donald J. Trump Approves Emergency Declaration for State of Washington

List of Affected Zip Codes

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

Late-stage Missed Payments Raise Delinquency Rates

Posted on December 11, 2025 by Safeguard

Industry Update
December 9, 2025

Source: Cotality

Cotality, a leading global property information, analytics, and data-enabled solutions provider, today released its latest Loan Performance Indicators, which analyzes mortgage delinquencies nationally and across major metropolitan areas. In September 2025, the share of mortgages in some stage of delinquency (30 or more days past due, including foreclosures) was 3%, which was unchanged from 2024. However, delinquencies increased slightly from 2.9% in the second quarter of 2025.

“The national delinquency rate has remained relatively stable over the past year and quarter. It is still up from the record lows seen in mid-2024. Even so, delinquencies remain low by historical standards, at just a quarter of the peak levels experienced during the Great Financial Crisis,” said Molly Boesel, Senior Principal Economist at Cotality. “However, we’re seeing signs of stress beneath the surface and some indication that borrowers who fall behind are struggling to catch up, progressing into later stages of delinquency. This is particularly evident at the metro level, where the share of areas with rising overall delinquencies declined from 70 percent in September 2024 to 48 percent in September 2025. Yet, the share with increasing foreclosure rates jumped from 8 percent to 39 percent over the same period. These trends suggest growing challenges for borrowers once they become delinquent.”

Despite concerns that borrowers may struggle to become current after falling into delinquency, the U.S. foreclosure inventory rate remained unchanged year over year at 0.3% in September 2025 and near the historical low of 0.2%.

Cotality examines all delinquency stages to gain a complete view of the mortgage market and loan performance health. In September 2025, the U.S. delinquency and transition rates and their year-over-year changes were as follows:

Early-Stage Delinquencies (30 to 59 days past due): 1.6%, unchanged from 1.6% in September 2024.

Adverse Delinquency (60 to 89 days past due): 0.5%, unchanged from September 2024.

Serious Delinquency (90 days or more past due, including loans in foreclosure): 1%, an increase from 0.9% in September 2024. The serious delinquency rate has been moving in a narrow range of 0.9% to 1.0% since June 2024.

Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 0.7%, down from 0.8% in September 2024.

State and Metro Takeaways

In September 2025, 18 states logged year-over-year increases in their overall delinquency rate. The locations with the highest increases were Arizona, Nevada, and Georgia which were all up 0.2 percentage points. All other states had changes ranging between -0.2 and 0.1 percentage points.

In September 2025, 186 out of 384 U.S. metropolitan areas posted an annual increase in their overall delinquency rate. The top areas include: Odessa, Texas (up 1.3 percentage points); San Angelo, Texas (up 1 percentage point); Farmington, New Mexico, and Jonesboro, Arkansas (both up 0.8 percentage points). All other year-over-year changes ranged between -0.8 and 0.7 percentage points.

In September 2025, 174 metropolitan areas posted an annual increase in their serious delinquency rate. The top areas include San Angelo, TX (up 0.5 percentage points); Odessa, TX; Lakeland-Winter Haven and Cape Coral-Fort Myers, FL; and Lima, OH (all up 0.4 percentage points). All other year-over-year changes ranged between -0.7 and 0.3 percentage points.

The next Cotality Loan Performance Insights Report will be released on February 27, 2026, featuring data for the fourth quarter of 2025. For ongoing housing trends and data, visit the Cotality Insights Blog.

For full report, please click the source link above.

Foreclosure Activity Climbs Annually for Ninth Straight Month as 2025 Trend Continues

Posted on December 11, 2025 by Safeguard

Industry Update
December 8, 2025

Source: ATTOM

ATTOM, a leading curator of land, property data, and real estate analytics, today released its November 2025 U.S. Foreclosure Market Report, which shows there were a total of 35,651 U.S. properties with foreclosure filings— default notices, scheduled auctions or bank repossessions — down 3 percent from a month ago and up 21 percent from a year ago.

“November marks the ninth straight month of year-over-year increases in foreclosure activity, underscoring a trend that has steadily taken shape throughout 2025,” said Rob Barber, CEO at ATTOM. “Foreclosure starts were up 17 percent from last year and completed foreclosures rose 26 percent. While these numbers show continued upward movement, overall volumes remain well below historical highs. The data suggests the market is still normalizing as some homeowners contend with higher housing costs and shifting economic pressures.”

Delaware, South Carolina, and Nevada posted the nation’s worst foreclosure rates

Nationwide, one in every 3,992 housing units had a foreclosure filing in November 2025. States with the worst foreclosure rates were Delaware (one in every 1,924 housing units with a foreclosure filing); South Carolina (one in every 1,973 housing units); Nevada (one in every 2,373 housing units); New Jersey (on in every 2,511 housing units); and Florida (one in every 2,565 housing units).

Among metro areas with populations of 1 million or more, Philadelphia, PA recorded the worst foreclosure rate in November 2025, with one filing for every 1,511 housing units. The increase reflects a temporary spike caused by the resumption of data collection in Philadelphia, which added backlogged records and is expected to normalize in December. Following Philadelphia were Las Vegas, NV (one in every 2,013 housing units); Cleveland, OH (one in every 2,114); Orlando, FL (one in every 2,282); and Tampa, FL (one in every 2,362).

Florida, Texas, and California led the nation in foreclosure starts

Lenders started the foreclosure process on 23,720 U.S. properties in November 2025, down 6 percent from last month but up 17 percent from a year ago.

States that had the greatest number of foreclosure starts in November 2025 included: Florida (2,819 foreclosure starts); Texas (2,612 foreclosure starts); California (2,090 foreclosure starts); New York (1,146 foreclosure starts); and Illinois (1,075 foreclosure starts).

Unlike the national trend, several major metropolitan areas with populations over 1 million and at least 100 foreclosure starts experienced the largest year-over-year declines in November 2025, including: Boston, MA (decrease from 186 in November 2024 to 130 foreclosure starts in November 2025); Miami, FL (decrease from 768 to 607 foreclosure starts); Sacramento, CA (decrease from 185 to 148 foreclosure starts); Riverside, CA (decrease from 462 to 371 foreclosure starts); and Denver, CO (decrease from 173 to 145 foreclosure starts).

Foreclosure completions rise annually

Lenders repossessed 3,884 U.S. properties through completed foreclosures (REOs) in November 2025, an increase of 0.3 percent from last month and an increase of 26 percent from last year.

States that had the greatest number of REOs in November 2025, included: Texas (546 REOs); California (314 REOs); Florida (311 REOs); Pennsylvania (291 REOs); and Illinois (223 REOs).

Those major metropolitan statistical areas (MSAs) with a population greater than 1 million that saw the greatest number of REOs in November 2025 included: Philadelphia, PA (160 REOs); Chicago, IL (152 REOs); Houston, TX (134 REOs); Dallas, TX (116 REOs); and New York, NY (94 REOs).

For full report, please click the source link above.

Dolton Committee Advances Resident-First Plan to Reclaim Vacant Homes

Posted on December 8, 2025 by Safeguard

One Community Update
November 22, 2025

Source: Citizen Portal

Dolton’s Housing Committee met to discuss a proposed resident-first program to return vacant and abandoned homes to the tax roll, outlining a process in which applicants place a $10,000 escrow while the village pursues a judicial deed, clears back taxes through the Cook County treasurer, and conveys the property to the applicant.

The committee chair said applicants would have 30 days after transfer to apply for permits, one year to bring the property up to code and secure a certificate of occupancy, and must live in the home for three years before having full latitude to sell or convert the property. “Once they receive the home, they have 30 days to apply for permits, begin work… and then there’s progress steps along the way,” a village official said during the discussion.

Why it matters: trustees and residents called the proposal a starting point to reduce blight and increase homeownership in Dolton while balancing legal and financial risk to both applicants and the village. The committee recommended moving the ordinance to the CAL meeting for additional review and legal vetting rather than adopting it immediately.

Residents and outside experts raised practical concerns. Thelma Price, a resident who asked for a village-maintained list of abandoned properties, said, “If this is a program for the village, why do we have to do that? Shouldn’t you guys have a list of all the abandoned properties in the village?” The village responded that residents may report suspected vacant properties and staff will perform qualification checks to avoid chaotic first-come, first-served bidding.

Costs and escrow mechanics were a focal point. Village counsel and staff explained the escrow is meant to cover the legal costs of obtaining the judicial deed and abating taxes; any remainder becomes part of the purchaser’s closing price. Officials used an example: if the village spends $7,000 to secure a property from a $10,000 escrow, the closing purchase price would be $3,000. The chair also noted an administrative fee under discussion (approximately $4,500) to cover program management costs.

Concerns about rehabilitation and contractor oversight were prominent. Several residents and Stalene Hatter, interim executive director of the South Suburban Land Bank and Development Authority, warned that many abandoned homes need major structural work: “Some of them have foundation issues… electrical issues,” Hatter said, arguing the village should assemble wraparound supports and vetted contractors to limit contractors who are unlicensed or unable to complete complex rehabs.

On rental policy and enforcement: community members urged stronger measures against absentee landlords. Robert Pearson, a former trustee and 40-year resident, called for a rental moratorium and full enforcement of a crime-free housing ordinance, saying the village is losing its homeowner base to investor-owned rentals. Trustees acknowledged those concerns but cautioned that other suburbs that enacted rental moratoria are facing litigation; the committee said it will monitor outcomes in Markham and South Holland before moving forward on any moratorium.

Limits and prioritization: the committee discussed limiting initial participation to one property per resident and starting with single-family houses. Multiunit or commercial properties were discussed as possible later phases with higher escrow requirements. Officials also said applicants who find foundational problems after acquisition can request extensions or, in some municipalities, have escrow applied toward an alternate property—decisions the board will finalize while drafting the ordinance.

Next steps: trustees recommended the proposal be sent to the CAL meeting for additional review and legal vetting; Mayor House and other leaders said the committee will continue vetting through November and could hold a vote in December if the board and staff resolve outstanding issues. No formal vote on the ordinance was taken at this meeting.

The committee adjourned after extended public comment and pledged continued outreach and refinement of the program before any final approval.

For full report, please click the source link above.

Syracuse Wants to Build 52 New Houses on Vacant Land Bank Lots

Posted on December 8, 2025 by Safeguard

One Community Update
November 29, 2025

Source: syracuse.com

A new state program that’s funding construction of new factory-built houses needs vacant residential lots, and the Greater Syracuse Land Bank has plenty to offer.

The land bank this week filed an application for funding to build 52 single-family houses on sites it owns. The state grant, called MOVE-IN NY, seeks to address the shortage of affordable, quality housing by turning to the manufactured housing industry. These houses can be built cheaper and faster than traditional stick-built homes.

The Syracuse land bank has seen the program’s potential firsthand. It was one of three land banks that participated in a test run for the state program earlier this year. A three-bedroom, two-bathroom single-story house was built for a vacant lot on Maxwell Avenue. The agency quickly sold the new home to an income-qualified buyer for $175,000, a discount from the $280,000 construction cost, with the state making up the difference.

The test went well enough that the state expanded the program with $50 million in grants available. With the land bank’s success under the pilot — and its control of dozens of vacant, flat residential lots in areas where housing options of limited — the agency’s leader is optimistic about the chances of getting funds.

“I don’t know if they will agree with every single one of those sites that we’ve proposed, but I’m confident that we’ll get a large number of houses built with this,” said Katelyn Wright, the land bank’s executive director.

While the land bank owns about 300 buildable vacant lots, the agency narrowed the list for the state application down to sites that can accommodate 52 homes. Criteria for the selections included lot size, the terrain and the characteristics of homes in the neighborhood. While the house sizes may vary slightly based on the models available from the manufactured housing companies that the state would allow the land bank to use, they would all be one-story, single-family homes.

The majority of the sites are on the city’s South Side, including 18 in the Brighton neighborhood and 10 in North Valley. There are also clusters of sites on the North Side, Eastwood and the Near West Side.

Pricing on the houses will vary depending on the neighborhood, but under the terms of the program, they must sold to buyers with household earnings between 70% and 130% of the median area income. That translates into an annual range between $72,450 and $134,550 for a home with four residents in Syracuse. In addition, a buyer’s monthly housing costs, which includes mortgage and escrow payments and expected utilities, can’t exceed 30% of household income.

Based on the interest from the pilot house, where a half dozen formal offers quickly came in, Wright expects there will be plenty of demand for the houses.

Wright said the state will probably move quickly with its funding decisions, perhaps as soon as next month. The land bank will work this winter to get site plans and permits approved by the city so construction can get started around late spring. She expects to be getting one new house per week built once the program is fully running.

“My hope is that we can really have a robust pipeline of sales by summer,” she said.

For full report, please click the source link above.

Statesboro Reviews Renewed Land Bank Authority as Tool for Revitalization and Redevelopment

Posted on December 8, 2025 by Safeguard

One Community Update
December 5, 2025

Source: Grice Connect

Statesboro Reviews Renewed Land Bank Authority as Tool for Revitalization and Redevelopment

Statesboro is taking a deeper look at how its Land Bank Authority can support neighborhood revitalization, affordable housing, and redevelopment efforts after Planning and Development Director Justin Williams delivered an extensive presentation during the November 18 work session.

The briefing outlined the history, purpose, and current capabilities of the Land Bank Authority, which has been restructured in recent years to help address long-standing challenges associated with abandoned, tax-delinquent, and deteriorated properties in both the city and Bulloch County.

The Land Bank was originally created in 2002 through an intergovernmental agreement between the City of Statesboro and Bulloch County in connection with the Statesboro Point development. Its purpose has always been straightforward: to acquire vacant, abandoned, or dilapidated properties and return them to productive use, with an emphasis on supporting housing, job creation, and broader community revitalization. However, the authority became largely inactive for several years until local leaders revived it in 2022 by appointing new members from both the city and county.

In 2024, the intergovernmental agreement was updated to bring the authority into alignment with the 2012 Georgia Land Bank Act, which significantly expanded what land banks across the state are allowed to do. Williams explained that this update now gives the local Land Bank access to a full set of modern tools widely used in other communities to combat blight and rebuild underinvested neighborhoods.

How Properties Can Be Acquired

Using information from the updated agreement and statutory powers, Williams outlined the Land Bank’s five main acquisition pathways:

Direct transfers from the City of Statesboro or Bulloch County

Purchases at tax sales

Private donations from individuals, nonprofits, or businesses

Direct property purchases when funding permits

Land banking agreements, which allow owners to temporarily transfer property for holding and maintenance until redevelopment is possible

He emphasized that the Land Bank evaluates several criteria before pursuing a parcel, including alignment with city and county priorities, location within areas targeted for revitalization, whether the property is under a demolition order, potential for redevelopment into housing, and whether multiple parcels could be assembled into a larger redevelopment site. Properties located in historically redlined or underinvested communities are also a key focus, consistent with the authority’s mission to address generational disinvestment.

Why the Land Bank Matters Now

Williams noted that although the authority existed on paper for two decades, it effectively remained dormant until its reactivation in 2022. Since then, both local governments have shown increased interest in using the Land Bank as a strategic redevelopment tool — particularly as the community faces rising housing demand and the need to eliminate blighted structures that impact public safety and neighboring property values.

The updated powers provided under the 2012 Land Bank Act allow the authority to:

Clear titles on encumbered or tax-delinquent properties

Hold land tax-free until a redevelopment partner is identified

Convey property for public benefit projects such as affordable housing

Work with developers, nonprofits, and housing authorities on revitalization plans

These capabilities give Statesboro and Bulloch County an additional pathway to address long-standing issues that traditional code enforcement and tax sale processes alone cannot fully solve.

Next Steps

While no action was required on November 18, the presentation served to give councilmembers a clearer understanding of the Land Bank’s current structure, acquisition tools, and potential role in supporting future housing and redevelopment efforts.

Staff noted that the topic will be discussed further at the City Council’s upcoming retreat, where members are expected to review how the Land Bank could align with broader policy goals and ongoing neighborhood revitalization strategies.

For full report, please click the source link above.

Brian P. Hudak Named OCC Deputy Chief Counsel

Posted on December 4, 2025 by Safeguard

Industry Update
December 3, 2025

Source: Office of the Comptroller of the Currency

The Office of the Comptroller of the Currency (OCC) has announced Brian P. Hudak as Deputy Chief Counsel.

In this role, Mr. Hudak provides advice to the Chief Counsel and senior OCC officials on significant legal, policy and administrative matters affecting the federal banking system. This includes management and oversight over the OCC’s enforcement, litigation, and internal agency matters.

“Brian brings nearly two decades of successful litigation and enforcement experience at the U.S. Attorney’s Office to the OCC, where he will provide meaningful direction to advance our supervisory and regulatory mission while ensuring that our regulated institutions are held accountable for their compliance with statutory and regulatory requirements,” said Comptroller of the Currency Jonathan V. Gould. “Brian has received numerous recognitions for his outstanding work on behalf of the United States, and the OCC is fortunate to have a leader with his background, skills and expertise in our legal department.”

Mr. Hudak most recently served as Civil Chief at the U.S. Attorney’s Office for the District of Columbia where he oversaw and supervised the litigation of thousands of civil defensive and affirmative matters. Prior to becoming Civil Chief, Mr. Hudak served in the U.S. Attorney’s Office as Deputy Civil Chief and as line Assistant U.S. Attorney in the Civil Division. During his 18 years at the U.S. Attorney’s Office, Mr. Hudak personally handled volumes of high-profile civil defensive cases, collected more than $1 billion in recoveries in civil enforcement lawsuits, and disrupted hundreds of millions of dollars in assets traced to terrorist and trans-national criminal organizations. Before his government service, Mr. Hudak worked for a law firm in New York.

Mr. Hudak received his Bachelor of Science degree in computer science from the University of Virginia and his juris doctor cum laude from Washington & Lee University School of Law.

For full report, please click the source link above.

Q3 Update: Delinquencies, Foreclosures and REO

Posted on December 4, 2025 by Safeguard

Industry Update
December 4, 2025

Source: CalculatedRisk Newsletter

Even with the recent weakness in house prices, it is important to note that there will NOT be a surge in foreclosures that could lead to cascading house price declines (as happened following the housing bubble) for two key reasons: 1) mortgage lending has been solid, and 2) most homeowners have substantial equity in their homes.

With substantial equity, and low mortgage rates (mostly at a fixed rates), few homeowners will have financial difficulties.

But it is still important to track delinquencies and foreclosures.

Here is some data on REOs through Q3 2025 …

This graph shows the nominal dollar value of Residential REO for FDIC insured institutions based on the Q3 FDIC Quarterly Banking Profile released in late November. Note: The FDIC reports the dollar value and not the total number of REOs.

The dollar value of 1-4 family residential Real Estate Owned (REOs, foreclosure houses) was up 24% YOY from $765 million in Q3 2024 to $951 million in Q3 2025. This is still historically very low, but increasing.

Fannie Mae reported the number of REOs decreased to 4,496 at the end of Q3 2025, down 4% from 4,666 at the end of the previous quarter, and down 31% year-over-year from 6,481 in Q3 2024.

This is very low and well below the pre-pandemic levels. REOs are a lagging indicator. REOs increase when borrowers struggle financially and have little or no equity, so they can’t sell their homes – as happened after the housing bubble. That will not happen this time.

Here is some data on delinquencies …

It is important to note that loans in forbearance are counted as delinquent in the various surveys but not reported to the credit agencies.

The percent of loans in the foreclosure process increased year-over-year from 0.45 percent in Q3 2024 to 0.50 percent in Q3 2025 (red) but remains historically low.

From the MBA:

Compared to last quarter, the seasonally adjusted mortgage delinquency rate increased for all loans outstanding. By stage, the 30-day delinquency rate increased 2 basis points to 2.12 percent, the 60-day delinquency rate increased 4 basis points to 0.76 percent, and the 90-day delinquency bucket remained unchanged at 1.11 percent.

The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure. The percentage of loans in the foreclosure process at the end of the third quarter was 0.50 percent, up 2 basis points from the second quarter of 2025 and 5 basis points higher than one year ago.

Both Fannie and Freddie release serious delinquency (90+ days) data monthly.

These are mortgage loans that are “three monthly payments or more past due or in foreclosure”. The pandemic related increase in serious delinquencies was very different from the increase in delinquencies following the housing bubble. Lending standards have been fairly solid over the last decade, and most of these homeowners have equity in their homes – and they have been able to restructure their loans once they were employed.

And on foreclosures …

ICE reported that active foreclosures are still very low but have increased recently. have decreased and are near the records.

There were 103K foreclosure starts in Q3 2025, a 23% increase from the same period last year, but 18% below Q3 2019’s pre-pandemic levels with FHA loans accounting for 44% of foreclosure starts in Q3.

The number of loans in active foreclosure rose modestly year-over-year (18%), yet overall foreclosure volume remains historically low, with Q3 foreclosure sales (21K) at roughly half of 2019 levels.

FHA loans account for the majority of that rise, making up 38% of active foreclosures, roughly half of the annual rise in foreclosure starts and 80% of the rise in active foreclosures.

The resumption of VA foreclosure activity following last year’s moratorium is largely responsible for the remainder of the recent growth, with foreclosure inventory for portfolio-held loans and GSE mortgages largely flat year over year.

The bottom line is there will likely be an increase in delinquencies and foreclosures, but there will not be a huge wave of foreclosures as happened following the housing bubble. The distressed sales during the housing bust led to cascading price declines, and that will not happen this time.

For full report, please click the source link above.