ICE First Look at Mortgage Performance for January 2025
Industry Update
February 21, 2025
Source: ICE Mortgage Technology
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, reports the following “first look” at January 2025 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
Delinquencies fell 24 basis points (bps) to 3.47% in January; that’s 10 bps higher than last year, but 33 bps below pre-pandemic levels
Foreclosure starts jumped by 30% and sales rose by 25% in January – driven by an expiration in the VA foreclosure moratorium – with active inventory rising by 7% in the month
While the number of borrowers past due as a result of last year’s hurricanes has fallen from 58K to 41K in recent months, the financial impact from the recent Los Angeles wildfires is emerging
An estimated 680 homeowners in the path of the Los Angeles wildfires missed their January mortgage payment, and ICE daily mortgage performance data through Feb. 17 suggests as many as 3,300 borrowers may be at risk of missing their February payment.
Prepayment activity (SMM) fell to 0.48% in January, its lowest level in nearly a year, driven by the combination of modestly higher rates and the typical seasonal slowdown in home sale activity
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