ICE First Look at Mortgage Performance: Delinquencies Improved Seasonally in March
Industry Update
April 24, 2025
Source: ICE Mortgage Technology
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today released its March 2025 First Look, which reveals that while delinquency rates edged up slightly year over year (YoY), they remain below pre-pandemic levels.
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:
While serious delinquencies (SDQs) also improved seasonally, they are up 14% (+60K) YoY, with the rise driven entirely by FHA delinquencies, which increased by +63K YoY.
Higher SDQs, along with the lifting of a VA foreclosure moratorium, fueled a modest bump in foreclosure inventory and sales, which both rose annually for the first time in nearly two years.
Disaster events, such as hurricanes and wildfires, have led to YoY delinquency increases across several states, including Florida (+44 bps), South Carolina (+17 bps), Georgia (+14 bps) and California (+10 bps).
Monthly prepayment activity, measured by single-month mortality, jumped to 0.59% – a +30.4% increase over February and the highest level of prepayment activity since November.
For full report, please click the source link above.